Experts: ASU's $140M Return on $28M 'Investment' in Omni Deal Screws K-12

Phoenix New Times
Friday, April 12, 2019
Stephen Lemons

Arizona State University would like to take Sparky's trident to Attorney General Mark Brnovich's tuchis over the AG's legal objections to the university's multimillion-dollar real-estate deal with Omni Hotels.

The school is protesting an amended complaint Brnovich filed in state tax court last week — the latest volley in the AG's ongoing crusade to bring university president Michael Crow's vaunted "New American University" to heel. ASU released a statement accusing the pugnacious Republican of "cherry-picking" facts about the school's controversial plan to turn the land it owns at the southeast corner of University Drive and Mill Avenue into a swanky, 30,000-square-foot hotel and conference center.

Contrary to the suit's latest allegation that ASU is violating the Arizona Constitution's gift ban with $28 million in sweeteners to Omni, ASU insists the money is in fact an "investment" that would "yield revenue of approximately $140 million for the university."