SAN JOSE, CA The University of California-Santa Cruz is leasing all 172 guestrooms at the Santa Cruz Holiday Inn for the next 10 years to house 250 students plus university guests.
The agreement with Ramco Illinois will allow the university to convert the hotel into a student residence hall, combined with university guest lodging and a conference facility. The lease helps address the universitys growing need for affordable student housing, but it will cost the city a half-million dollars in lost tax revenue. (2/2/01)
SOURCE: San Jose Mercury News, CA