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Message: [QUOTE="Pudge, post: 3217917, member: 364"] I wrote my post before reading the article in the Hartford Courant by Kelly whomever I’m certain I am right & she just missed the whole point. Why 30 year lease? 30 years are tied to ideal Amortization & the likely result - commonly done - is the University or assigned owns the building for $1. Fully Amortized. Single Purpose Entity. Check. No Trustee of Bonds wants to get involved with either the State or University having an upset event that results in the bond holders not getting their P&I payment. SPE are absolutely the case in most all project financings also - including commercial private. Too many games by shady developers. Yes. Hire a FEE Developer. Lessor is the of UCONN Foundation. Don’t worry Fee Developers get paid a ton of money. Leaving guaranteed money for consultants & attorneys & all construction firms involved. Prevailing wage? Of course. It’s on State property. I presume there are southern states that avoid this. But we are in the northeastern United States. NYS Assembly almost upset billions of dollars of NYCEDC deals with prevailing wage legislation. Amazon would have been chopped anyway if this occurs. But at risk ... lots of Life Science & Academic Institutional Projects citywide. Crazy. I don’t think the legislators understand. Low low interest rates mean great Proceeds. The math is easy. So whatever she’s writing is certain to be significantly wrong if the rates remain low. They won’t have rob the proceeds of West Hartford or Nathan Hale or raise that much more donations. My guess is they just don’t want to get caught if they get unlucky. Rates are low. So. Owned & controlled by a related party. We all good on this? [/QUOTE]

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