Annual Costs
He also said that the owners of Madison Hall
have to pay out annually $800 in fire insurance
and must also pay back to the University a
10-year loan of $12,000 for the renovation of
the building which was completed in 1960.
Mr. Manly declined to comment on the legal
aspects of the matters pertaining to the dispute.
He did state, however, that he believed that a
substantial increase in the rents is necessary
immediately in order to forestall further action
on his part.
By law, all proceeds of the lease have been
and always will be devoted to the betterment of
the University and particularly to student
affairs, according to Mr. Manly.
Madison Hall, Mr. Manly said, is making
significant contributions to the University and
to the community by serving as the center and
Office of Community Service of the University,
by providing legal and other administrative
advisory services to students, and by sponsoring
lectures and discussions, under; the name of
"FOCUS," on topics of contemporary interest.
