Reply to RIP Johnson's -- Now let's move on

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Reply to "RIP Johnson's -- Now let's move on"

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[quote=Anonymous][quote=Anonymous]It all sounds good, but here's the "money shot" quote:

While acknowledging that Johnson’s has been a 
valued tenant and the neighboring community benefits from Johnson’s 
services, our fiduciary responsibility to be good stewards of limited 
University resources dictated that [b]we could not agree to an arrangement 
with terms substantially below market value for the location. [/b]

A plant nursery just isn't going to be able to pay as much in rent as another yet national bank branch or a chain restaurant, and certainly won't offer to same real estate 'market value' potetnial as dense redevelopment into more "Generica" mixed-use.  But in the process, we lose essential neighborhood-serving businesses on which the community has depended for a long time.  As a tax-exempt organization that benefits from paying virtually no local taxes, AU should also consider its stewardship responsibilities in the community, rather than imagining itself as a wannabe hedge fund portfolio manager.[/quote]

I agree. Losing the kinds of services and resources in the neighborhood that can't manage high rent, like  nursery, diminishes the community. We don't need more chains.[/quote]

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