Regarding your editorial in Wednesday's Post about Ohio University's purchase of the HDL Center:If you think the HDL Center is worth even a third of $9.25 million dollars, you have rocks in your head. If OU would have tried harder some time ago to purchase the building, they would have saved more money.
The situation is even more ironic considering OU used to own the building in the first place. They sold it, the current owner did a quickie remodel and then rented it back to the VP of Finance for an exorbitant amount of money (and a 10-year property tax abatement). Now that the abatement is over, the owner is selling a $3.3 million-dollar property for almost three times its value. The waiver will, of course, become permanent now that the property will be owned by the university and the property will be tax exempt.
The university was outwitted on this deal long ago. This mess is not the fault of the current administration. How is buying now is the right thing to do? I have trouble seeing how a remodel at The Ridges would have to cost $33 million (half the price of Baker Center!?). Of course, that depends on the design, fixtures, price of the escalators from Richland Avenue to The Ridges, etc. I imagine that a remodel befitting the VP of Finance and Administration offices would have to be pricey indeed, come to think of it.
It's just too bad the university is taking such a hit on the price when the budget is supposedly so tight and we cannot fill faculty positions, people have been laid off and more will be laid off next year. I would be very interested to find out where the money for this purchase is coming from ' I've not heard or read any information regarding the financing.
Carolyn Khurshid lives in Albany, Ohio.
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