$144M in Thirty Years, While G.O.B. Still Pays Rent

Alberto August

The United Democratic Party also says that over the life of the loan agreement with S.S.B., the private entity responsible for the initial thirty million dollar loan to build the campus, would have realized one hundred and forty-four million dollars.  Here’s how Vice Chairman Alberto August explains it.

Alberto August, Vice Chairman, U.D.P.

“BIL was a part of the government structure.  Who is Campus One?  That’s a private, as far as we know, it’s a private entity.  BIL was responsible for expending government resources for the purpose of building government assets.  This is a totally private entity who will be obtaining thirty million dollars from the Social Security [Board].  At the end of thirty years they are going to be walking away with one hundred and forty-four million on a thirty million dollar investment.  I am wondering who is so powerful to have convinced this government to commit the people of this country to thirty years, to be paying four hundred thousand dollars per month to a private entity.  They are walking away with a loan from social security and in interest of five point five percent when they invest that thirty million dollars in that building, they are going to walk away with one hundred and forty-four million.  Sir, that is four hundred and forty-six percent of that thirty million and that is the concern.”