Friday, December 19, 2014

Update on state university concessionaire tax exemptions

The Fulton County Daily Report reported last month that the state Board of Regents has signed a 65-year contract with Corvias, a student housing company, to provide almost 10,000 beds across nine state university campuses for an initial outlay of $517 million. The Daily Report quoted an attorney involved in the Board of Regents-Corvias deal as saying, “A lot of other university systems have been watching the Board of Regents' process, and we think it is going to be a model nationwide." The contract was awarded shortly after voters approved a referendum guaranteeing tax-exempt status for state university student parking and dormitories that are leased and managed by private companies.

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