Boise State football complex gets final approval from State Board

By Brian Murphy
bmurphy@idahostatesman.com

Boise State's new $22-million football complex cleared its final hurdle with the State Board of Education on Thursday. The board gave the school authority to finance the majority of the project with bonds.

The school has $4.5 million cash on hand for the project. It will finance $17.5 million with bonds. Boise State has pledges for another $7.8 million for the football complex, which will handle debt payments through 2019, said Stacy Pearson, Boise State's vice president for finance and administration.

"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 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 complex will go out to bid on March 1. Pearson said construction is expected to start in late April and the complex will open in the summer of 2013.

Any cost in excess of the bond amount will be covered by donations, Boise State said.

Boise State used bonds to pay for parts of the Caven-Williams Indoor Sports Complex and the Stueckle Sky Center, Pearson said. The athletic department has paid for that debt with donations and operating revenue. The athletic department also pays money to the university as payment for using some of its bonding capacity.

The board gave Boise State authority for $33.33 million in bonds. The additional monies will be used to refund 2003 housing bonds and 2004 general revenue bonds, which will save the university more than $1.4 million.

Where are the haters?

Bring it on.

Be patient

Its coming.

That's what she said.

That's what she said.

Can you say Taco Bell

Can you say Taco Bell

I like long term debt....it looks really good in the

short term....

it's an investment ...

in the future, unlike the social security tax which we pay every year.

Well done. Go Broncos!

Holy Cash Cow Bateman

Is there some serious male bonding going on here?

Looks like

they have done a great job of getting the financing lined up at each step of the way. We are never going to match Oregon, but we can have the vision to provide first class facilities to compete for top recruits. Thanks to our new AD, Coach Pete, and our entire athletic department.

This

is needed for Boise St. We can now hope for better recruiting for not only football, but for all sports.

Needed for BJC

The football program is doing great. What Bjc needs is to become Bsu. It still cost the same to go to school in Boise as it does at U Of I or ISU, but less chance to graduate, less degree's offered, and Kustra the crook is taken them down.

22-million...

Funny how everyone is jacked about debt from a Boise State addition that will get used 6-7 times a year, but everyone is so negative about the story yesterday about the Boise Hawks stadium, which could be used 200 times a year? I don't see the difference?

KCIDR

Read the article.

You dont?

The new football facility will only be used 6-7 times a year? Or 365 days a year?

Would the tax-payer be directly responsible for the new football complex or for (the proposed) Boise Hawks new stadium?

i'm hoping.....

.... the "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" .... are used more than 6-7 times per year.

The difference? When people think of Boise, ID do they identify with BSU, Broncos, and a blue field, or minor league baseball, Hawks, and the Chicago Cubs? Not that I'm against a new baseball stadium, I just think the the return on investment is much greater with Boise State football.

Memorial should be for amateur sports.

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

The state treasury is not at risk for this bond issue. Nor can

it ever be under the Idaho Constitution. The money raised from the sale of the bonds is secured by special account established solely to pay the bondholders. In the event there is a default, the creditors can only go after that account. The creditors can not go after the state of Idaho nor can they go after the real property & improvements financed with the money. A default would damage BSU's credit rating on future bond issues, but the taxpayers are not at risk

"Any cost in excess of the

"Any cost in excess of the bond amount will be covered by donations..."

In other words, any cost in excess of the bond amount will be covered by somebody. Well, that nails it down, doesn't it?

excess costs = fundly

Even us little guys can support Bronco athletics financially if we so choose. Should there be cost over runs the fundly account can be accessed.

http://fundly.com/broncostadiumexpansionproject1

And then came 1929

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Oh FO

More dribble from your chin.
.....................

Give a man a monkey and he will spank it.

That's a booger. Fix your naught-naught night vision

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Good Point FO....

The finances looked good until the Friday of 29....

today's education budgets and sboe times should be focused on education itself....the BSU football stadium should have had more fan support from $$$$ than it has....

hopefully no 'bailouts' for the bond holders in clauses....

Excellent news

Exciting to hear that the football complex will break ground in April!

Another hole?

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Another hole?

Yes, yes you are.
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Give a man a monkey and he will spank it.

If there were no internet you would have made parole by now.

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Lifer

...................

Give a man a monkey and he will spank it.

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

When does it all stop. What has kustra and the gang done for the local fans. How does this help college students or the bsu fans. Next is the stadium, lots of money for seats in the End Zone. I know Boise people are smart and look for good deals. Watching a top 20 team is fun. When they are no longer a top 20---goodbye everyone....stop digging.

Maybe BSU should get a job.

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