ED Magedson – Founder
Hawaii Pacific University1164-Bishop St. Honolulu, Hawaii USA
Hawaii Pacific University Hawaii Pacific University lied to Hawaii State Officials, its students, Aloha Tower Tenants and public Honolulu Hawaii
Hawaii Pacific University has lied to State officials, have also committed securities fraud when they obtained State Revenue Bonds in a “bait and switch” with Government officials and have lied to their students and public. This will cost the State of Hawaii hundreds of millions of dollars in lost lease rents, general excise taxes, payroll taxes, and also steal tens of millions of dollars from Native Hawaiians because of the revenue they would have received from ceded land revenue.
The original developer of the project was forced out and was given a “sweetheart deal” for the property. When Hawaii Pacific University came forward and said they would fund the redevelopment of Aloha Tower, that was their first lie. They didn't and they defaulted on their agreement! Their second lie came when they said they had to buy out the Original Developer because a Non-Profit Entity had to own Aloha Tower to qualify for the State Revenue Bonds. The truth is the Original Developer ended up with 1/3rd of Aloha Tower in a settlement agreement along with millions and millions of dollars from HPU to walk away so they could take over and turn Aloha Tower into a Campus. It wasn't because they had to be a non-profit, they had several legal options they could have used to maintain a relationship with the Original Developer, they just needed him gone to change direction from a profitable Entertainment District to a College Campus. The deal gives HPU prime waterfront downtown property for $0.32 per square foot, which would have been a good deal for the State if the Developer delivered on his commitments and generated hundreds of millions in taxable revenue and created over 1,000 local jobs.
The Developer has said publically that HPU committed fraud. He also indicated that the Governor of Hawaii told him to take the settlement and walk away from the project. The Governor has gone on record saying he has a “place in his heart for HPU” because he used to teach at one of their satellite campuses. Why would the GOVERNOR GIVE AWAY HUNDREDS OF MILLIONS OF DOLLARS IN STATE REVENUE AND CEDED LANDS REVENUE?
The combined proformas the original developer presented to the Governor and State Officials, would have easily generated more than 100 million dollars a year at Aloha Tower and create over 1,000 jobs and HPU used that financial information and design concept in a bait and switch scheme to take over Aloha Tower not to generate revenue, but to get a new campus.
HPU also lies on in their advertising to entice students to come to a beautiful Hawaii Campus, when in reality the campus is in one of the most drug ridden, crime invested areas of Hawaii. One student complained online
..................."Yes, the homeless and the druggies, and the weirdos, and the panhandlers. They are all very real and omnipresent and if you're considering going here, i suggest asking yourself very truthfully if you want to share your campus with them, because they are here to stay."
There have been class action suits by students and HPU has lied about its accreditations. And while HPU portrays itself as Military friendly, veterans attending the school say the school has ignored requests to show any sort of veteran appreciation events. Learn more at http://www.malamahawaiiharbors.org/NO2HPU.html
This report was posted on Ripoff Report on 06/27/2013 03:13 PM and is a permanent record located here: http://www.ripoffreport.com/r/Hawaii-Pacific-University/Honolulu-Hawaii-96813/Hawaii-Pacific-University-Hawaii-Pacific-University-lied-to-Hawaii-State-Officials-its-s-1062649. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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