Two quick sound bites from the interview:
What is it like being in charge of a Catholic university?"the most-watched private school in the country": I've noted before that Monaghan has this quirk about always using superlatives. It gets distracting after a while, especially when they're used in odd locations.
It's very exciting, very fulfilling. I'm working harder than I was when I was at Domino’s and enjoying it more. When I was at Domino's, I was spending half of my time working on Catholic educational and other projects; now I can do it full time. There is so much potential. I feel I'm doing something that's so important. I think that Ave Maria University may be the most-watched private school in the country, and there's an obligation to make it work and do it right.
Tell me about the relationship between the university and the town.I have to keep on reminding myself that the Law School Board of Governors used due dilligence in coming to the conclusion that a Florida move was in the best long-term financial interest of the school.
Barron Collier Co. owns a tremendous amount of land in the county, and they are our general partner in the town. There's a permit for 11,000 homes, and we have engaged Pulte to build 80% of phase I.
Our timing in making the move to Florida couldn't have been worse because of the economic downturn. Right now, the town is not growing as fast as we had hoped or projected, but I am confident that it will eventually; we'll just have to wait a bit longer for the economy to come back, but this challenge is not specific to us.
Of the 11,000 homes, approximately 300 have been built.