The acquisition was conducted through a public auction, with UG purchasing the property for approximately USD 3.650 000 million, financed via a bank loan.
Yes, the obligation was to employ around 120 people, create accredited higher educational programs and ensure average celery.
The University of Georgia has fulfilled all its obligations in good faith and currently employs more than 1500 staff, has over 10 000 students and over 60 accredited programs on all academic levels.
The procedure of purchasing via public auction ensures transparency because the information is publicly available.
No, the property was not purchased from the Technical University, because it was a state auction and payments were made to the state treasury.
No, no UG building has ever been acquired through symbolic or nominal transactions. In fact, the University acquired bank loans to purchase the buildings.
No. This is the first time in the 18 years since the acquisition of the property that the Technical University filed an official complaint.
The construction of the buildings was unfinished. Construction on the buildings had been suspended in the late 1980’s, and had not been completed.
We cannot speak for the Rector of the Technical University. The University of Georgia has always conducted every transaction, including the transaction for the buildings, legally and transparently.
