Part 2- A $2.5 million mansion for King Lane??

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Today at our board meeting we were joined by the father in law of the President's Chief of Staff who put on a very impressive dog and pony show with Powerpoint and informed everyone how TSU spending another $11,000 a month on Lane's proposed mansion would be an asset and definitely not a liability, an estimated total of $132,000 a year.  We beg to disagree.  

When we have students and possibly even staff and faculty who are either homeless or one paycheck away from being homeless, why on earth should our President be allowed to spend $2.5 million of our taxpayers money on a mansion when he already gets almost $80,000 a year as a stipend for living accommodations?  Isn't that enough money?
The arguments made by Senor Smith was that: 

A) Other colleges have presidential residences,

B) We used to have a TSU presidential residence (why was it sold off? he didn't get into that and there were probably good reasons why he decided not to do that), 

C) The mansion would be used for fundraising activities, parties etc for booster (why couldn't King Lane just do all of this in his current residence? and what about the rumor that his wife is the one pushing to be a prominent socialite and this mansion would accomplish that desire) and

 D) ...he didn't explain it but it appeared to us and to at least one of the regents that this would be a smart investment for Senor Smith to do by negotiating the property and then leasing it back to TSU for a 15 year mortgage.....well, rich people don't become richer by failing to seize every opportunity right?
We still say "No" ...a hard, hard "No" Your Majesty.  

Hopefully the BOR will not be swayed and fooled into making yet another bad decision for TSU.  

Comments

Anonymous said…
Was the “purchase” approved?
October 21, 2018 at 11:27 AM
Anonymous said…
Not yet but only one regent seemed to be speaking out against it. It looks like King Lane will have a new palace very soon
October 23, 2018 at 5:21 AM
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