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Hey Tom

You should never criticize the negotiating prowess of our elected officials for they are the "Nabobs of negotiating", the kings of critical thinking"........
I posted this on another blog regarding the "rent" payment. It bears repeating here as well:

The New Deal calls for $500,000 per year but MINUS office space rent. Here’s a thought for you. The State Properties division expects to pay state lease rental rates on 300 sq/ft per employee at any leased office. This takes into account the actual office space, conference room etc.
The state is VERY CHEAP on this allowance in private industry it may be more.
Watch this:
25 employees using 300sq/ft each = 7500 sq/ft of leased space.
7500 X $15 sq/t = $112,000 per yer

$500,000 – $112,000 = $388,000 actual lease payments.

Now check this out:
Please try to find a rate that comes anywhere NEAR the $15 per sq/ft rate in this deal compared to commercial RE rental rates in Wilmington.
There are some premium spaces that are $70 to $100 per sq/ft.
Now here’s a thought. Why include office space at all? Sure sell tickets at a ticket counter turnstile.
But why not have Shoninger build a small office facility across the street from the stadium to house the offices? They would pay lease payments for that space in a separate deal – like the separate “public park”?
That office space deal is one give away if you ask me

I'm stunned at how cheap the rent is for offices.
And Saffo is a real estate guy?



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