[Mr.RE]

However this last statement in the article doesn't make too much sense to me:


"Omni will also be receiving $21 million from the City of Tempe in tax incentives, $19.5 million from ASU to build a conference center that the University will have use of seven days each year and $8 million from ASU to build parking exclusively for hotel use. Omni will then have the option to buy the entire property for only $10 in 60 years.

In lieu of paying taxes, Omni Hotels is expected to pay about $1 million per year in rent to ASU."

This seems like a losing proposition for ASU. Itll take 27+ years for ASU to recoup payments for a conference center and parking garage it can never use? By doing the math, ASU is estimated to make roughly $35 million in lease payments before selling the property for $10... Good or Bad deal?

ASU is STARVING for more parking and to pay for a garage that students cant park in doesn't make sense. Unless this article got it wrong. Thoughts/Opinions?