Boise State to request $17.5 million bond for new football facility

By Brian Murphy
bmurphy@idahostatesman.com

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.

I hope they turn it down

No bonding for athletics. Either you have the fan and donor support or you don't. The arms race is too big to have to depend on bonds. If you can't fund the program, maybe it is time to rethink strategies and priorities.

$17.5 Million, hmmm...That is about the amount Idaho got for "safety concerns". Does Bronco Stadium have safety concerns? :)

Educate yourself a little about bonds...

Geezus, what a lame post. Read the last sentence of the blog post starting with "The bond would be secured...". Nobody actually pays this guy for his posts, do they?

Commentforhire, what team do you root for again?

Think much of yourself.

Bronco fan, have been for 32 years. BSU alumnus no less. The last sentence you refer to(and the paragraph before it) wasn't there when I posted. Get a grip.

Still think BSU should have been able to come up with more than 4.5 million ahead of time. It isn't like this is a new idea. How in the world are they ever going to complete the stadium expansion if this is all they can get from donors.

Just find it funny that when it is our nasty and inebriated brothers to the north doing this kind of stuff it is horrible, but when BSU does this it's a good idea.

What Broncos said it was horrible?

You mean the part about lipstick on a pig?

You're a Bronco fan, and yet you're comparing ourselves to the Idaho Vandals? Two programs and universities going in different directions. A football team that cant get anywhere near a sellout. And you say we need to re-think priorities.

So Coach Pete is pushing this football complex. Its one of the promises the Bronco brass made him when the ball coach was being courted by Stanford and many others. Yet, you, a Bronco, want the State Board to turn it down? I mean "hope" they turn it down?

32 years huh?

Football isn't everything

and Coach Petersen is just a man. Nothing more. He isn't even the most important person on that campus.

He is?

Get out?! I'm stumped with such great awareness on your part. You and FO must be bosom buddies.

The people to the North...

Had the State foot the bill entirely. Big Difference! This is different, but you must go and read how these bonds work to understand what it means. It does not mean what you are trying to imply here.

That's not true

There were private dollars involved in the so-called suites at the potato cellar. Not all the cost were paid for by the legislature. If you check, I think they may have raised more donor dollars than we have been able to do for the latest expansion.

I think it was stupid to give state money to the vandals to improve safety in a wooden structure that was semi out of date when it was first constructed. They make a fuss about the awards it got for being the largest wooded domed structure, yet it never occurred to them why nobody else was doing it. Vandals, they have been a self parody for 50 years.

It's a monumentally bad idea. Crap.

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Believe in yourself. At least you won't troll yourself in blogs.

Sure...

It was bad when they did it for the Sky Club too? Which is paid off and making money?

Yeah...horrible

The Sky Club isnt paid off....it still has about

$23M to go....

Taco Bell isn't paid off yet.

When you find yourself in a deep hole, stop digging...

Don't get me started on the Sky Club

They could've made it half as big, and started on the stadium expansion. But, NO, they wanted a fancy place to have wedding receptions and press conferences.

I've already expressed my displeasure several times for spending money on facilities rather than seating. No point in rehashing it all, and pi*ssing myself off.

RMS

You do realize they each seat in the Sky Center is making BSU about 13 times what a stadium seat is making them?

I understand that

But, I don't think the Sky Club is bringing in that much revenue. From the time the Sky Club was built, season tickets have tripled in price. I just don't think there are as many "rich folk" as regular folk. If the Sky Club was only half of what it currently is, the school would've been able to afford at least 10K additional seats AND kept ticket prices around the same price. I understand rises are a part of business. But TRIPLING? WTF!

So, building the Sky Club was good, but we didn't need one so big. They should've added 10K extra seats. Just as an example, 500 tickets at $300 each does not bring in more revenue than 10K at $30 each. AND, the additional revenues from concessions are added. Are 500 people going to drink more sodas/beer or eat more hotdogs than 10K? I don't think so.

No, I think the Sky Club was too big.

Boy, I wish we could

add 10K seats for $15M.....

Understand where you are coming from. But the Sky Center has been hugely successful and with the addition of the 3,200 bleacher seats next year, almost 5K seats have been added since the Sky Center was built.

(FYI the Sky Center seats 2K, half would be 1K not 500)

Interesting thoughts RMS

Whenever I look at the Stueckle, which is just about every day, I can't help but see it as a monument to how far this little football program has come. It wasn't all that long ago that we had what was basically a high school press box sitting atop Bronco Stadium.

That old pressbox was so outdated that it couldn't accomodate the basic needs and requirements for large visiting coaching staff, local/regional press and media staff, nor the major TV networks. Did you know that BSU had to rent auxillary mobile power units whenever ESPN came to town? Anyway, you evidently just see Steuckle as a fancy place for "rich folk" to watch games, and while it does serve in that capacity, it also serves in other capacities that you're not aware of, but we're all entitled to our opinions, and I value yours, however, I don't think that you're looking at the larger picture.

Hey kid

How about an update on construction, what are you seeing?

nothing

yet

Rich folk?

You would think rich folk would understand the value of a dollar. Watching a game through glass??? Sounds like TV, but with bad camera work...

Shut up, Gingrich.

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Believe in yourself. At least you won't troll yourself in blogs.

Shut up Gingrich. Stop wasting good tape.

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Believe in yourself. At least you won't troll yourself in blogs.

Are You kidding me

The reason the Vandals are where they are is because of the type of thinking coming from this "fan" We have a great program and it is due to forward thinking. As for your 32 years... Thanks, but no thanks. Btw, kinda curious how much have you given to the program. I'm thinking that is amounts to the amount of pocket-lint in your pants pocket.

They can see games without cable. SHUT UP!

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Believe in yourself. At least you won't troll yourself in blogs.

I was a season ticket holder

I was a season ticket holder for 10 of those years. Didn't miss too many home games until 2009. Keep drinking the cool-aide.

As for the vandals problem, it is that they aren't a D1A program and don't know it and enough of the faithful up there keep them in it even though they were obviously better off in the Big Sky.

Do you remember what was going on up there during the last half of the 90's and first couple years of the 2000's? BSU has been following the same trail for a few years now and it is starting to catch up with us. I just hope it doesn't blow up in our face like it did the vandals.

Go talk to Kustra and ask him what his plans are for the endowment. You may be surprised.

More than likely, you are just a football fan and really don't care about the university. If that is the case, I can at least understand your interest in this.

Sure would be nice if BSU would sell out all their games. Sad last year when the best senior class in the program's history can't get a sell out on senior day. I don't have season tickets, but I was there, were you.

Dont try to make any sense to some of

these bloggers....

They believe in Funny Money....

It's kinda sad when

people are misinformed. The Bronco's sold out every home game last year, including Senior day.

You are technically right

The student tickets were bought and paid for through student fees so even though they didn't use them and people didn't buy them when they were made available there was techinically a sellout. I'm simply refereing to the fact that the stadium wasn't full and tickets that were available went unsold. Kind of like there is always 15,013 people in the hangar, but we only see 7,000.

Actually, you simply stated

"Sad last year when the best senior class in the program's history can't get a sell out on senior day"

The "fact" is BSU sold every game out in 2011 including the Senior Day game.

As for your "hangar" analogy, are you saying you can actually look at a crowd of 33,000 people and pick out the 300 or 400 that aren't there?......awesome.

hangar?

I'm lost. Are you talking about actual hangars or something else?

§ Pass, other than

any analogy or comparison to anything U of I is tired and n/a at this point.

the reason the "attendance" figure is that high at UofI...

Is because they give away season tickets as door prizes. Don't have to be present to win. Same way they get high voter turnout in Chicago because of all the cemetaries that turn out for the Dems.

No they didn't

Don't lie when everyone knows the truth.

For the record

Take a look at where the six 2011 home games rank in BSU's all-time game attendance.

http://www.broncosports.com/ViewArticle.dbml?DB_OEM_ID=9900&ATCLID=530470

the new deal....

and when they repay by increased revenue via a BE TV contract?

think big....

fund the entire stadium expansion now, cost savings of 20-25% during the downturn makes sense....IMO

Funding Stadium

This should rank high up on the list of no-brainers. Big-time football programs pay for a lot of other hard-to-fund projects.

yes, braindead if you do, easy to have no brain.

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Believe in yourself. At least you won't troll yourself in blogs.

Big time?

Don't confuse Big Time football program with a Very good football team. The money for a big time program is a long way off if it would ever come in Boise Idaho. Stop digging when you find yourself in a big hole.

BSU Footbal

No more--footbal isn't all they do at BSU--take out a bond to fund smaller class sizes, more teachers, restore programs.

more football

many programs reap from the success of their football program....increased revenue supporting and paying vs just spending makes good business sense

Smaller class sizes

isnt the answer. At this stage in our lives, a college student should be able to concentrate on their studies whether there are 20 people or 120 people in it. The idea that a smaller class size is better is a total elementary school issue. Even High Schoolers can deal with 30 kids in a classroom.

football is the hot ticket

it does, and will continue to, fund other academic and non-profitable sports. If the other sports can't raise funds you lose those scholarships, then you lose football scholarships because of title 9. As the football team prospers, so does the university (and community). How many jobs will be created by a big construction project when many trades workers are unemployed? A bond issuance IS fund raising, as opposed to going to the state for a hand out from taxpayers. If growth, popularity and the promise of big BCS/TV pay-offs is enough to allow bonds to sell to raise the money it's a win/win, and a no brainer!

Have all the BSU players in

Have all the BSU players in the NFL take up a collection.

Jezuz pete........

The "school" is bonded to the bone already.....JUST SAY NO!! Do it with private funds or not at all!

BoraLion

Do you have any idea how many outstanding bonds Boise State currently has? How about the Balances of those Bonds? or maybe even what the bonds are for? Do you know what Boise States bond rating is? Do you have any idea what the debt service is on current bonds? Do you know the current percentage of the that debt-service to income is?

I'll wait.....

Uneducated Lion

Boralion....is on the phone with Jethro Bodine getting his answers for you right now. He got stuck on his "goes-intos"

Cant figure out why this got flagged...

Best post of the week. Still laughing a couple hours later...

§ Same here

That's why I said I liked it (below).

Maybe he inadvertently insulted someone's granny who had fallen into some cement pond and couldn't figger how to git out.

Ha!

That little granny was something else.

Its funny how quickly the pond s-c-u-m floats out of here. You can really feel the bitterness.