By Brian Murphy
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.