Adam's Monday column at StateCollege.com is hilarious this week. His vision of the Borough and University thirty years on is dead on. He tweaks his fellow StateCollege.com columnist, Accuweather meteorologist and global warming denialist, Joe Bastardi, but Penn State gets most of the barbs, while Borough Council suffers some collateral damage. It's hard to for me to pick a favorite part, but his comes close.
Technorati Tags: Penn State, State College, StateCollege.com, Adam Smeltz
That revenue has been especially helpful as the Penn State administration pays down the university's construction-related debt, now estimated at $6 billion -- up from the $1 billion range in 2010.Go read the whole thing.
About $75 million of that debt stems from the Fraser Centre project in downtown State College, which is celebrating its 20th anniversary this week.
You may recall that the project struggled to get off the ground in 2010, before Penn State took it over. Once the university gained control, however, construction began rapidly in late 2011.
Penn State scrambled the earlier plans for Fraser Centre, which had included condominiums and retail space. In their place, the university has made Fraser Centre into the headquarters of a never-ending capital campaign.
The campaign, known in 2010 as "For the Future," became "For-ever" by 2011. Fraser Centre has become an effective home base for the ever-more-critical fundraising efforts, helping the university to lubricate potential donors in exquisite social lounges and expansive bars and restaurants
Technorati Tags: Penn State, State College, StateCollege.com, Adam Smeltz
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