My, times have changed.
Ten years ago today, Northwestern loaned Evanston $1 million as part of a $4 million line of credit a “Statement of Understanding” between the university and the city during the NU/Evanston Research Park negotiations. The loan was repaid at an interest rate much lower than the city would have received from a bank.
These days, the two entities don’t seem to understand any statements the other makes. Indignant letters fly back and forth as university administrators and city officials continually argue about whether NU contributes enough to the city.
“The people of Evanston are hungry,” Ald. Steven Bernstein (4th) said Tuesday, “and (NU’s) got a lot to eat. Why don’t you help feed us?”
Ald. Ann Rainey (8th), hardly NU’s biggest fan, said 10 years ago that the loan was characteristic of the university’s “very kind and beneficial way.” But the comment was probably sarcastic: That same year, Rainey proposed a tuition tax for NU students.
Now that university administrators are no longer offering money, the council is seeking it more persistently than ever.
“And we’re not talking a $4 million line of credit here,” Bernstein said. “That’s ludicrous. I’d consider accepting a line of credit if it were about $100 million or so.”
Eugene Sunshine, NU’s senior vice president for business and finance, said the university would again consider extending a line of credit.
“If a contribution of that sort would touch the mutual interest of both of us, I would be willing to discuss it,” Sunshine said. “Of course, the amount and degree of subsidy would have to be worked out.”
Of course. Everything old is new again. And the discussion always end with more negotiations a trend that Ald. Arthur Newman (1st) said is worthless.
“I’m not interested in negotiating, especially if $4 million is the figure,” Newman said.
Oh, for the old days …