Grand Hotel Giveaway?

We're not sure what to make of this item (below) from the Daily Bruin. Is the chancellor proposing to give away space in the Grand Hotel after it opens?  That wouldn't pay the bills for it.  Or is he proposing to give away space in other facilities after the Grand Hotel opens - which would deprive those venues of revenues.

• Block said the university is aware that some student groups struggle to pay for performance and meeting spaces such as Royce Hall, and he said officials try to keep costs down. He added that some new spaces may open up for student groups when the UCLA Meyer and Renee Luskin Conference and Guest Center opens in 2016.
• (UCLA PR director Steve) Ritea said in the email statement that construction bonds on the conference center will be fully paid off 27-30 years after construction is completed.

From http://dailybruin.com/2015/05/05/block-discusses-fundraising-administrative-positions-and-office-hour/