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Message: [QUOTE="Pudge, post: 3218120, member: 364"] For the rest of you - other than this Z guy It makes no sense for a University to let a third party developer OWN this property or sell land What I’m trying to convey ... there are Public Finance Vehicles (Tax Exempt Bonds at tiny interest rates and 30 year fully amortizing) and they do gimmicks that may fool a Newspaper writer ... but are done commonly to protect bond holders & the Public Entity. I’m certain I am right - because I do this for a living. The Bonds fully amortize in 30. The University - a related party - owns the Facility outright at that point (the Shell LLC made up goes away & the Fee Developer never has ownership). There’s no frigging way a third party developer owns a University building today; manage it - yes. But earlier we saw the University does maintenance; another key Term - it’s run like all the other athletic facilities. Management means (possibly) being the employer of staff & some tasks. Development Fees are significant for the developer. Etc etc [/QUOTE]