[Stymie]

I wouldn't assume that the golf course acounts for all the $8 million.  Knowing what I do of golf enomocis my guess is that the income is equally split between the golf and the ponies (who are notoriously expensive/lucrative to maintain).  Also, the golf/pony land is prime development land for the University (i.e. owned, flat, and contiguous to recent deveopment).  I'd guess than even in my lifetime, 1/2 of the the golf course and all of the ponies will be re-located south of Junipero Serra

[Stymie]

I wouldn't assume that the golf course acounts for all the $8 million.  Knowing what I do of golf enomocis my guess is that the income is equally split between the golf and the ponies (who are notoriously expensive/lucrative to maintain).  Also, the golf/pony land is prime development land for the University (i.e. owned, flat, and contiguous to recent deveopment).  I'd guess than even in my lifetime, 1/2 of the the golf course and all of the ponies will be re-located south of Junipero Serra