@vuindiana great analogy! Unfortunately, I do not have the details and specific financial info...but ever since VU Law school closed I've thought that VU would eventually close as well. I agree that there's not much focus on the value of the "show"; but it appears VU is suffering from a vast amount of other issues and possibly a decade of misdirected long-term goals. Granted many issues are external and part of the decline in higher ed. But I fear when this O'Keefe/dorm matter shakes out there will still be mountains of obstacles to overcome. PS I am against the sale of these pieces because land purchases have been made that are unnecessary IMO. And selling other VU owned parcels and adding cooperatively owned facilities are just a few alternate solutions that should be pursued over this art sale mess.
The problem with entering into agreements with coop buildings is that the revenue must then be split between the company who built the building and the school. There is a reason these types of ventures are rare outside of big public schools. The Strongbow property was intended to be used, but covid amongst other troubles shuttered plans. They are selling their vacant lots, just no known buyers yet outside of the Lincoln way property. At the time these parcels were purchased, the university was in a mindset of expansion, you can not predict a global pandemic unfortunately.
@rezynezy Yeah well I heard the Strongbow property was purchased within the last year. UNNECESSARY
@vualpha88 They want to pretty up Bauer Field and add highway access.. Supposedly there is still plans to put in a permeant parking lot and grandstand like in the original rennovation documentation.
@rezynezy Yeah well I heard the Strongbow property was purchased within the last year. UNNECESSARY
If you understand land development you would understand the necessity for the Strongbow acquisition. The plan is to sell off the large parcel of land, currently occupied by a pretty much unused soccer field, and raise potentially millions of dollars for the greater good of the university. Without the Strongbow property, our current property was landlocked. With the Strongbow acquisition we now have access to Route 30 which vastly improves the overall value. A very smart move.
It was foolish to buy the Strongbow property prior to selling the other parcels. I fully understand development, but if numerous other things are in dire need of improvement or replacement then that should be the focus. It's evident that these dorms have been deteriorating for decades. And NOWWWWWW it's suddenly imperative to improve freshman dorms by pilfering the B Museum to do it? Poor planning 101.
It was foolish to buy the Strongbow property prior to selling the other parcels. I fully understand development, but if numerous other things are in dire need of improvement or replacement then that should be the focus. It's evident that these dorms have been deteriorating for decades. And NOWWWWWW it's suddenly imperative to improve freshman dorms by pilfering the B Museum to do it? Poor planning 101.
The money to buy Strongbows came from the endowment. Not sure what limitations as to use were put on those funds but I doubt they could be used for dorm renovations.
So your assessment is that a buyer would take our word for it that we would buy the Strongbow property if they bought the rest? Would they also pay a premium for highway access just because we said we planned to buy it? Come on...
@vu72 first of all, I don’t appreciate your “tone“ – that is if I am interpreting it correctly. Second of all no I don’t expect a developer to wait and take anyone’s word for it. But I did not know where the money came from to purchase the strongbow property, and quite frankly, I don’t feel like wasting my time to research it. So thanks for schooling me. The bottom line is that for at least two decades it appears that the university has not made good choices in terms of sustainability for the future. And honestly, I realize it’s a conundrum regarding the new freshman dorms. Enrollment is down so who the hell is going to live in the new dorms? But without the new dorms, you cannot attract new students from outside of our immediate region of Valparaiso. The whole thing makes me sick. I’m not here to argue. I’m just pointing out that instead of selling off the three paintings from the Brauer Museum perhaps there are other options… and considering the length of time that these buildings have been deteriorating, I’m wondering what the urgency is now. Again they’ve been in bad shape for a very long time. Poor planning 101.
The money to buy Strongbows came from the endowment. Not sure what limitations as to use were put on those funds but I doubt they could be used for dorm renovations.
Ironic to read this when you have repeatedly supported selling the art, which certainly does have a limitation on use of funds in its trust agreement that clearly precludes spending on dorm renovations.
Well we cannot fault the current administration for problems caused by previous admins. Past mistakes snowballing into the current condition today
Not investing in athletics in the late 90s and early 00s snowballing into the worst year athleticly in school history.
Holding certain departments on a pedestal and severely neglecting others snowballed into closures of schools and the state of the dorms
I at least commend the new admin for realizing that these practices weren't sustainable. In a perfect world we wouldn't have to sell art, land, and we would be the small school people talk about rather than Gonzaga. As for holds on the money in relation to the art vs the land purchases, that argument will continue to get messy. I suggest we wait until it plays out before a screaming match
@vu72 first of all, I don’t appreciate your “tone“ – that is if I am interpreting it correctly. Second of all no I don’t expect a developer to wait and take anyone’s word for it. But I did not know where the money came from to purchase the strongbow property, and quite frankly, I don’t feel like wasting my time to research it. So thanks for schooling me. The bottom line is that for at least two decades it appears that the university has not made good choices in terms of sustainability for the future. And honestly, I realize it’s a conundrum regarding the new freshman dorms. Enrollment is down so who the hell is going to live in the new dorms? But without the new dorms, you cannot attract new students from outside of our immediate region of Valparaiso. The whole thing makes me sick. I’m not here to argue. I’m just pointing out that instead of selling off the three paintings from the Brauer Museum perhaps there are other options… and considering the length of time that these buildings have been deteriorating, I’m wondering what the urgency is now. Again they’ve been in bad shape for a very long time. Poor planning 101.
VUALPHA88, my apologies if I came across in the manner you suggest. It appears you are new to this board while some of us have been involved in discussions regarding the art sale and Strongbow acquisition for quite some time. My comments should have been made recognizing that you might not be "up to date" some Valpo stuff.
We are all Valpo fans and, like you many of us are Valpo alumni. We all want what is best for Valpo. Unfortunately, we have to deal with reality and that is no doubt going to piss off some. Again, my apologies.
Why is it so darn important to keep these art pieces? Will keeping these better that the university will survive? Cripe, I never knew about these when I went to school, and I love art!
at the end, the university needs to survive. The dorm situation currently sucks and contributing to diminishing enrollment.make a decision and move on.
make a decision and move on.
Be patient. The decision has been made. Unfortunately for the VU administration, it is currently illegal to move forward with that decision because it violates the irrevocable Sloan Trust Agreement that Valparaiso University vowed to observe. That is why they have petitioned the court to amend the Trust requirements. However, as I have said all along, I am sure the court eventually will allow the sale. After all, once when asked by a faculty member what he did while working in Washington politics, Padilla responded that his job was to find loopholes.
I have read the full court petition, which is a fishing expedition looking for loopholes, and I am sure they will find one that the judge can allow. Sadly, if you can believe it, the main loophole shamelessly targets Richard Brauer for purchasing the paintings, though Brauer correctly sought and received permission from the Trust committee given authority and the sole Sloan executor and trustee (who held "unilateral veto power") to obtain the artworks. Brauer bought the O'Keeffe for $5,700 and its fair market value today is currently estimated at $10.5-15 million.
For this, previous VU administrations have hailed Brauer as a hero and repeatedly honored him for his selfless service to the university for over 60 years, even naming the museum after him. But the current administration is seeking to vilify him, claiming he selfishly followed his instincts and personal "bias" in purchasing the work. The legal petition actually accuses Brauer, the Sloan Committee, and the Sloan executor/trustee of violating the law when they purchased the O'Keeffe and Hassam paintings.
One of the loopholes will likely work. "A decision" has been made and the art sale will be permitted by an amendment to the Sloan Trust by the judge, but the university's poor public relations problems will only continue as we "move on."
Both my wife and I attended VU and we knew very little, if much of anything, about the Brauer Art Collection/Museum. We don't even remember, if we ever knew, where it was located. And to think that this one man, Richard Brauer, basically holds the future of our University, or at least has a great influence, on its financial future is hard to believe. Since when is it the purpose of Valparaiso University to hold valuable pieces of art that basically few people even know about and let the School basically go to hell financially because of relatively few academically arrogant people who pride themselves saying "look at what we have"? OK, it is an investment...FOR WHAT? Remember the parable in the Bible where the man buries his talents in the ground?
It is time for some people to get off their high horse, get real and be fiscally responsible to Valparaiso University.
@valpopal - the one behavior Valparaiso University that bites success consistently is being overly patient. OK, so should the university go under because we want to keep 3 pieces of art? Seriously? What other solutions are out these? Is Valpo going to succeed because of these 3 pieces of art or is it because we have a quality campus and education?
@vualpha88 - you are providing the argument, not the others on the board. How about some better solutions?
This university needs to adjust to the situation and it needs to be done promptly.
