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Follow TURFA&M signs two P3 deals, giving private firms monopolies
Allowing private developers to takeover public land is a horrific abuse of property rights. Whether the landowners donated their land to the university or had it taken using eminent domain, it was in the name of a 'public use.' Now, these projects will directly benefit private companies with government-sanctioned monopolies. One of the projects, the Discovery Center, is designed to lease out office space to other private firms, not even for university use or any real 'public use' as required by the Texas Constitution.
Rep. John Raney needs to go if he thinks this is a good deal for Texans. A&M can force students into this privately-developed housing and make them pay whatever the company says it needs to achieve the level of profit it wishes. Meanwhile, the cost of a college education shoots through the roof. It's a sad day in Texas when our elected & public officials sell us out and then say it's 'all good' because they can shift the debt off their own books, but make us pay it back with interest PLUS profit to private firms granted monopolies. Note how all details were discussed behind closed doors in executive session, not in public. What are they not telling us and what do they NOT want the public to know?
Texas A&M System regents OK ground leases for private developers
By ALLEN REED | Sunday, September 8, 2013
The Eagle.com
The Texas A&M University System Board of Regents have approved ground leases to allow private developers access to university land.
The regents approved two agenda items at a special meeting Saturday morning. Regent Judy Morgan was absent. The items were approved unanimously without comment or discussion by the regents.
Chairman Phil Adams said the regents discussed the items during their closed-door executive session.
The move frees up A&M system officials to enter into ground leases with private companies.
The negotiations, new to Texas A&M, would allow private companies to use their own capital to construct the projects. Texas Rep. John Raney, R-Bryan, authored a bill in the 83rd Legislature that gave the A&M system regents the authority to sell or lease Texas A&M University land and made this type of public-private partnership possible.
"The chancellor now has the authority to execute the agreements, and we will now move into final negotiations on both projects," said Phillip Ray, chief business development officer for the A&M system. "We're excited about engaging these partners. I think it fits very well with our debt management plan and we think these are very beneficial to the system and our students."
One of the projects approved is a 4,000-bed West Campus Housing Project that would be built on 46 acres along University Drive where the Howdy Farm is currently located. A&M officials expect the construction to cost around $225 million and that the money would be paid by a private company and not A&M. The university would retain control of room rates, assignments and programming elements for the residential complex.
The other project being considered is the Discovery Center, to be located next to the Texas A&M Institute for Preclinical Studies building along University Drive. A system spokesman said square footage and layout for the building have not been decided, but that the building could house first-class office space to rent to A&M, the system or private companies. Officials project phase one of the center to be open by August 2014.