Auburn University to Build $100 Million Beach Hotel

From the Mobile Register:

Auburn University trustees voted Friday to move forward on a plan to build a hotel at Gulf State Park, for the first time releasing the proposed agreement with state officials...

Trustees gave interim President Ed Richardson the power to sign a memorandum of understanding with the state Department of Conservation and Natural Resources, as well as to sign a lease of 70 to 99 years with the state for the hotel site and to select a developer for a hotel.

The State of Alabama kick in up to $41 million on an "exposition hall" next door.

Sounds like an endeavor that would best be left in the hands of the private sector. AU should stick to cows and catfish. :)