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Post by redwhiteandyote on Dec 6, 2012 15:11:44 GMT -6
Dont be surprised if the track complex is started first. Good money coming in for that project.
Regents allowed USD to build in sections, when money is available and accounted for.
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Post by azsod73 on Dec 6, 2012 15:17:25 GMT -6
Dont be surprised if the track complex is started first. Good money coming in for that project. Regents allowed USD to build in sections, when money is available and accounted for. But, does the foundation guaranty count as 'available and accounted' for?
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Post by GoYotes on Jan 8, 2013 21:50:07 GMT -6
Senate Bill #8 is the bill authorizing the new arena, track & soccer project.
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Post by azsod73 on Jan 20, 2013 18:14:12 GMT -6
Mick's comments during the WBB with Oakland: Herbster is thinking of a ground breaking yet this fall. Coyote athletics really needs this project to get off the ground - or in the ground to start - for so many reasons.
If anyone out there is still thinking about committing some $ to this campaign, now is the time to say yes to the future!
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Post by azsod73 on Feb 14, 2013 20:58:01 GMT -6
From David Herbster tweet:
David Herbster þ@dmherbster SB8 passed the House vote today. On to the Governor's desk to be signed. Basketball arena / track complex a reality
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Post by yotemeal on Feb 19, 2013 11:02:09 GMT -6
Both the USD and SDSU facility projects are poised to receive the governor's signature, but we should all be aware of what our legislators are doing to represent our interests. Below are the naysayers to the USD and SDSU facility bills. Legislators vote no for countless reasons, some very legitimate, but you should at least be aware of what your legislators are doing and, if necessary, question the rationale behind their actions. Copy this link for a list of all legislators, sorted by district: legis.state.sd.us/sessions/2013/MembersByDistrict.aspxUSD Bill (SB8):legis.state.sd.us/sessions/2013/Bill.aspx?Bill=8Senate nays: Maher (District 28), Omdahl (11 – Minnehaha), Otten (6 – Lincoln) House nays: Campbell (35), Greenfield (2), Hickey (9 – Minnehaha), Nelson (19), Russell (30), Kaiser (3), Kopp (35), Latterell (6 – Lincoln), May (27), Olson (28B) SDSU Bill (SB11):Senate nays: Monroe (24), Omdahl, Maher House: yet to consider.
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chuck
Sophomore Member
Posts: 169
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Post by chuck on Feb 19, 2013 16:02:00 GMT -6
So, assuming the governor signs, what are the obstacles to breaking ground? For example, do we need to have all of the money raised first?
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Post by moyotefan on Feb 19, 2013 16:42:54 GMT -6
I would be interested in knowing what University affiliation each of the nay sayers have to SD?
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Post by azsod73 on Feb 19, 2013 22:40:43 GMT -6
So, assuming the governor signs, what are the obstacles to breaking ground? For example, do we need to have all of the money raised first? My thinking is that we need in place, whatever cash is contributed, along with the balance in signed pledges before work commences. An amount corresponding to the future dollars pledged is borrowed/bonded to pay for the balance of the construction. The USD Foundation has agreed to guarantee the payments pledged will be received to repay the bonds if we go that route. At one time there was a possibility that the Foundation would "loan" the amount of the future pledges directly, which would reduce bonding expenses. If someone out there knows better, please correct me. It also sounded like there was a pretty good chance the T & F/Soccer facilities work could kick off sooner than the arena. As far as I know the expectation is for ground breaking on the arena by this fall.
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Post by redwhiteandyote on Feb 27, 2013 18:54:10 GMT -6
From Jeremy Hoeck on twitter
Jon Schemmel, USD's associate a.d. for Dev., says it's "absolutely feasible but not a certainty" that USD breaks ground in 2013 for arena
Definitely good news, just hope that happens. Dont wanna wait too much longer. Get out and support!
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Post by Yote 53 on Feb 27, 2013 22:30:14 GMT -6
I think it gets started. Why? Because when you start putting shovels in the ground and proceed with the work you have something concrete to show donors. This IS happening. It loosens up the purse strings as donors will contribute more freely to be the one to put the fundraising over the top or to personally contribute for some amenity.
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Post by azsod73 on Feb 28, 2013 11:03:50 GMT -6
I think it gets started. Why? Because when you start putting shovels in the ground and proceed with the work you have something concrete to show donors. This IS happening. It loosens up the purse strings as donors will contribute more freely to be the one to put the fundraising over the top or to personally contribute for some amenity. I agree with your line of thought but I think they have agreed to wait until the pledges are signed. Not sure if "agreed" is the right term or if it is some type of formal limitation on moving forward. JH's column in the P & D today: www.yankton.net/articles/2013/02/28/sports/doc512ed18b51f40163330321.txt
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Post by azsod73 on Apr 25, 2013 15:39:02 GMT -6
In one of the Herbster interviews from last week he stated (I'm paraphrasing) that they had the financial commitments in place to break ground but were trying to add more dollars to "do it right".
This is great news! I am sure they have to try to build in some contingency for increasing building costs etc. but sounds like we are getting there. The full scope of the projects is in the $68 million range - hard costs plus financing the longer term pledges.
It would be nice to have ground breaking this fall but if it is mostly symbolic, and the main construction doesn't start until spring, I am okay with waiting for that too.
Huge project but do you think we could be playing in the arena by the fall of 2015?
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Post by Coyote Fan on May 21, 2013 21:16:01 GMT -6
I heard on the radio today that Cor Trust Bank donated 1.5 million towards the facility improvements. That donation should put the project over the top and ready for an autumn start to putting shovels in the ground. Thank you Cor Trust Bank.
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Post by Cousin Eddie on May 22, 2013 7:48:01 GMT -6
The total cost of the project is $68M. We have something in area of $50M pledged. They are still working on several other prospects at this time. We are not "over the top" of anything, but it is a great announcement.
Herbster wants shovels to hit ground by the end of 2013. Ultimately without the full pledge of the $68M, there is the concern of "will construction hurt or help the final stages of fundraising?" There are two competing points of view on that issue.
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