Jan
19
2012
Today in Trump: Donald Turns His Attention to the Bronx
By Conor Nagle under Architecture

Citizens of the Bronx, as depicted in popular documentary film "The Warriors".

Undeterred by his ongoing Aberdeenshire debacle, Donald Trump has reined in his world-beating hubris (just a little) and set his sights on running a public course in the Bronx.

Last night, the New York City Franchise and Concession Review Committee (or the NYCFCRC, for the cool kids among you) voted 5-1 in favour of allowing the suspiciously-coiffured property magnate to assume control of a $180 million project at Ferry Point Park.

Unsurprisingly, some people have a problem with this.

In exchange for the right to manage the project, which is not scheduled to be completed until 2014, Trump will a pay a licensing fee of 7% annual gross revenue or $300,000, depending on which is greater. That fee is scheduled to rise over time, eventually culminating in a final-year charge of 10% annual gross revenue or $470,000.

Already a reasonable rate given the course’s location and catchment area, the scale of the licensing fee becomes downright baffling when viewed in the context of two key caveats:

First of all, the self-claimed billionaire won’t begin paying the licensing fee until the course – which will likely charge a green fee in the region of $125 -enters its sixth year of operation. Plus, the city itself will fund the venue’s construction.

Someone worked some wizardry in the boardroom.

Conor Nagle