Appears us taxpayers are going to have to continue financing of a private company according to Courtway's recommendation to the BoT. From today's ADG:
Quote:
Under a 2004 agreement, UCA has provided the magazine with rent-free office space, $690,000 in supplemental funding and up to $50,000 a year in office supplies.
The proposed new fiveyear agreement would allow that arrangement to continue with some new conditions, including a requirement that the magazine provide two UCA students with unpaid internships each year and include two full-page advertisements for the university in each issue.
Under the draft agreement, which could change before the board considers it, The Oxford American would also sponsor at least one annual event at UCA, complete “mutual projects” with writing faculty and create an editorial board with two positions filled by the dean of UCA’s College of Fine Arts and Communication and the chairman of its writing department.
I had really hoped that better judgement would have been made in reaching this decision. This is a money pit operation for UCA imo. $50,000 would go a long way in granting several students scholly money in helping to alleviate some of the burden of the high costs of a college education nowadays.
I'm willing to bet that five years down the road this private company will still be owing UCA money of past due accounts.
A good business man would not make a deal with the devil in this instance.
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