By Brian Murphy
Boise State will ask the State Board of Education this week for permission to issue a $17.5 million bond to fund the majority of the new football facility at Bronco Stadium.
Boise State has raised $4.5 million in private gifts and pledges for the complex, which is scheduled to be finished in the summer of 2013.
Update: A Boise State spokesman said Tuesday that the school has raised an additional $7 million for the project, but that the money is not available now, hence the need to borrow $17.5 million. The $7 million in future pledged money will go toward paying the bonds and the school plans to raise additional money to pay off the bonds. End update.
"The improvements provided by this new facility are needed to support the development of the football program, provide facilities that are more comparable to our conference peers, and to enhance recruiting," Boise State wrote in its proposal to the State Board.
The State Board will meet in Boise on Thursday and Friday. The board will consider the bond request at 2 p.m. on Thursday.
Any cost in excess of the bond amount will be covered by donations, Boise State said.
The complex will consist "of approximately 69,000 gross square feet of all-sports training and hydrotherapy facilities, a strength training and cardiovascular room, football team locker room, football team meeting rooms, football coaches’ offices, football coach and staff locker rooms, academic study areas, a recruiting lounge, equipment storage and checkout, loading dock, and other infrastructure support spaces."
The bond would be secured with pledged revenues, which can not include state appropriations.