- OHSU is $10M short in local match funds, and may suffer delays in getting bonds unless they can come up with $10M quickly
- Lots of PSU students will be traveling to/from the new building (apparently it will offer some classes for PSU students).
- There will be a new MAX station (Porter St) close to this building, thus connecting it to PSU.
- TriMet sees the timely construction of this building to be a critical component to hitting ridership goals of PMLR
- TriMet agrees to pay PSU $10M to manage the construction of "the porter street station retaining wall and the Harbor St. aerial structure" (these are components of the PMLR project)
- Both PSU & OHSU are part of OUS (Oregon University System), and somehow paying $10M to PSU to manage these construction projects meets the need for the $10M that OHSU needs.
Clear as mud?
Maybe the idea is to take part of PMLR and make it part of the life sciences building project. Then TriMet uses PMLR money to pay PSU to build the parts they gave to OHSU. OHSU then turns around and says "hey, here's $10M of the life sciences building project we've funded;" thus making them more eligible for the bonds.
2 comments:
Legalized money laundering.
If a business did this, its CEOs would be in federal prison for violating SOX.
Even though I am the lowest man on the totem pole at my work, I have to signify that I will not conduct business with another affiliate of our parent company (Berkshire Hathaway) without legal review. That means that technically speaking I can't even talk to anyone (at work) at BNSF, or See's Candies, or GEICO because doing so would inflate revenues and create possible anti-trust issues.
Yet, it's OK for TriMet to engage in the same sort of crap.
It must be nice to belong to the club where people hand out millions of dollars to each other on the sly and never have to answer to anybody about it.
Your tax dollars at work folks, at work for the government elites that exist as leeches do.
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