{"id":14,"date":"2005-11-19T09:25:00","date_gmt":"2005-11-19T16:25:00","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=14"},"modified":"2005-11-19T09:25:00","modified_gmt":"2005-11-19T16:25:00","slug":"i-woulda-paid-20","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14\/i-woulda-paid-20\/","title":{"rendered":"I woulda paid $20…"},"content":{"rendered":"

From the Arizona Republic<\/a>:<\/p>\n

After months of negotiations, the Sundome Center for the Performing Arts will soon be under new ownership.<\/p>\n

The Maricopa County Board of Supervisors voted this week to approve the purchase of the 7,000-seat performing arts center.<\/p>\n

The board agreed to pay $10 to the Arizona Board of Regents, the owner.<\/p><\/blockquote>\n

The Sundome is a failed arts venue, a failure even before newer and better free-market competition came on line. This “sale” simply moves its losses from one cadre of taxpayers to another.<\/p>\n

But there are three little ironies here: If the property had been “sold” for $10 to a private party, we would all understand that the taxpayers had been robbed by a sweetheart deal. But if ASU had sold the property at market value to a private developer, it would have received a huge sum of money for turning a vast parcel of land to a higher and better use. But, best of all, ASU will campaign next spring for the lion’s share of a City of Phoenix bond issue to build a new campus for itself in Downtown Phoenix. If the taxpayers are willing to kick in yet another $855 million, ASU will be happy to donate the ten bucks it got from this “sale.”<\/p>\n

Actually, there is potential for a fourth and crowning irony:<\/p>\n

Del E. Webb Corp. gave the Sundome to Arizona State University for $1 in 1984, with the university promising to keep it an arts venue.<\/p><\/blockquote>\n

That reads like the grant to ASU may have been a qualified fee estate subject to condition subsequent, meaning that title would revert to Del Webb (now a division of Pulte Homes) if the property is not maintained as “an arts venue.” But a common-enough provision in such a qualified fee estate would be that title would also<\/i> have to vest in<\/i> ASU, no other parties. In other words, it’s possible that the original deed says that if ASU does not wish to retain the property, it automaticaly reverts back to Del Webb. The fallout from that would be an entertaining spectacle, worth ten bucks at least…<\/p>\n","protected":false},"excerpt":{"rendered":"

From the Arizona Republic: After months of negotiations, the Sundome Center for the Performing Arts will soon be under new ownership. The Maricopa County Board of Supervisors voted this week to approve the purchase of the 7,000-seat performing arts center. The board agreed to pay $10 to the Arizona Board of Regents, the owner. The […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-14","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-general","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1906,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1906\/church-of-darth-vader-opens-shuttles-to-the-death-star-iii-departing-daily\/","url_meta":{"origin":14,"position":0},"title":"Church of Darth Vader opens: Shuttles to the Death Star III departing daily","author":"Greg Swann","date":"September 8, 2007","format":false,"excerpt":"No, wait. Appearances to the contrary, that is not the Church of Darth Vader. It's the brand new Tempe Center for the Arts -- a concert venue, because Phoenix can never have enough empty concert venues. It's built near a working freight railroad line. It's built in the glide path\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15537,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/15537\/cnbc-in-the-name-of-supporting-home-prices-the-obama-administration-will-likely-put-in-place-a-system-under-which-investors-make-private-profits-while-the-taxpayers-subsidize-the-risk\/","url_meta":{"origin":14,"position":1},"title":"CNBC: “In the name of supporting home prices, the Obama administration will likely put in place a system under which investors make private profits while the taxpayers subsidize the risk.”","author":"Greg Swann","date":"January 9, 2012","format":false,"excerpt":"Is housing the next Solyndra? Looks like it. The Obama administration is getting ready to transfer billions of dollars worth of foreclosed homes to campaign donors. If you think still more Rotarian Socialism sucks, wait until the house up the block from yours goes Section 8. Looters never tire of\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18221,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18221\/overnight-news-the-office-building-of-the-future-is-suburban-low-rise-gated-guarded-video-monitored-and-patrolled\/","url_meta":{"origin":14,"position":2},"title":"Overnight News: The office building of the future is suburban, low-rise, gated, guarded, video-monitored and\u00a0patrolled.","author":"Greg Swann","date":"June 11, 2021","format":false,"excerpt":"If you pursue the comments on Pedro Robinson's article, linked below, you'll see me prophesying on every rooted thing. If you read me here, you know my take: The Ants who can work from home are fleeing everything Grasshopper as fast as they can. Gun sales are slowing, so that\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1329,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1329\/arizona-republic-realtors-side-with-zillowcom\/","url_meta":{"origin":14,"position":3},"title":"Arizona Republic: Realtors side with Zillow.com","author":"Greg Swann","date":"April 21, 2007","format":false,"excerpt":"The Phoenix RE.net is heard from in a big way in an article that will appear in Sunday's Arizona Republic about the State of Arizona's attempts to stifle Zillow.com. Writes reporter Peter Corbett:A state agency's efforts to stop Zillow.com from offering property-value estimates in Arizona are drawing criticism from some\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1372,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1372\/heres-a-better-idea-how-about-abolishing-the-state-board-of-appraisal\/","url_meta":{"origin":14,"position":4},"title":"“Here’s a better idea: How about abolishing the state Board of Appraisal?”","author":"Greg Swann","date":"May 1, 2007","format":false,"excerpt":"This is from the Tucson Daily Citizen:Zillow.com offers online estimates of home values. There is now plenty of public data available for computers to crunch to make the estimates pretty good. 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Today the East Valley Tribune, clarion of the populous suburbs east of Phoenix, came out strong for Zillow.com and other consumer-oriented Automated Valuation Models:Arizona home buyers and property speculators are fortunate the state Board of\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=14"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=14"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=14"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=14"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}