The regents said they were convinced that revenues from room rentals and dining would support payments on the $112 million in bond financing they approved Tuesday. The center’s next biggest chunk of money is a $50-million gift — $40 million for construction and $10 million for a programming endowment — from UCLA alumnus Meyer Luskin and his wife, Renee, the couple after whom it will be named. UCLA officials emphasized that the Luskin donation could not be used for an off-campus facility. However, critics say the plan poses unfair competition to Westwood hotels and could generate too much traffic. They also challenge UCLA’s contentions that the center will not be a true commercial entity and thus, guests will not pay occupancy taxes. David Greenberg, an attorney representing the Save Westwood Village neighborhood organization, said the project “poses great risks to UCLA” because tax authorities could decide years later that the campus is liable for those taxes.

Read full article [here].
by Larry Gordon, The Los Angeles Times.

Posted: July 18th, 2012, by: admin. Categories: . Awaiting Comments.