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Money Problems for the stadium?

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Money Problems for the stadium?

From the Sun-Sentinel

"In other business, FAU is facing a potential snag in its effort to build a $62 million stadium, housing and retail complex called Innovation Village. Officials are trying to secure at least $5 million in cash and commitments from donors and sponsors to take the project to the bond market. But interest rates have gone up, and FAU lawyer David Kian said the university needs more money than expected. How much is unclear.

Officials have no plans to delay the project, now expected to open in 2010."
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HOTEL said

From the Sun-Sentinel

"In other business, FAU is facing a potential snag in its effort to build a $62 million stadium, housing and retail complex called Innovation Village. Officials are trying to secure at least $5 million in cash and commitments from donors and sponsors to take the project to the bond market. But interest rates have gone up, and FAU lawyer David Kian said the university needs more money than expected. How much is unclear.

Officials have no plans to delay the project, now expected to open in 2010."


Interest rates have gone up? The Fed just cut another 3/4 point. It seems that when ever we get past one obstacle, we have to encounter another. I am pleased they are persuing this with some determination.

FAU - THE REAL SLEEPING GIANT
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Re: Money Problems for the stadium?

I'm hearing so many conflicting reports its frustrating i dont knw whats true does any one know how close we are to the 5 million we need. If they have to start to delay the stadium to will be devastating to this school.
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Re: Money Problems for the stadium?

owlcountry40 said

I'm hearing so many conflicting reports its frustrating i dont knw whats true does any one know how close we are to the 5 million we need. If they have to start to delay the stadium to will be devastating to this school.

Doesn't sound so bad. It's a challenge, but we already knew that.

ERROR: A link was posted here (url) but it appears to be a broken link.

http://www.palmbeachpost.com/search/content/south/epaper/2008/03/20/s3b_faumeet_03201.html

I'm just frustrated why they haven't started a grass roots fundrasing blitz for the little guy donations. I'm an Alumni and season ticket holder(4 to be exact), and aside from the brick campain, I haven't heard from them on stadium donations.

-Go Owls
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Re: Money Problems for the stadium?

prowler said

owlcountry40 said

I'm hearing so many conflicting reports its frustrating i dont knew whats true does any one know how close we are to the 5 million we need. If they have to start to delay the stadium to will be devastating to this school.

Doesn't sound so bad. It's a challenge, but we already knew that.

http://www.palmbeachpost.com/search/content/south/epaper/2008/03/20/s3b_faumeet_03201.html

I'm just frustrated why they haven't started a grass roots fundrasing blitz for the little guy donations. I'm an Alumni and season ticket holder(4 to be exact), and aside from the brick campain, I haven't heard from them on stadium donations.

-Go Owls

true fau should be pushing for every donation it can get even if someone wants to donate a dollar and they should be pushing the brick campain even harder not even so much for the money it could bring but for the excitement and how it can make people part of the stadium.
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Re: Money Problems for the stadium?

illinoisowl said


Interest rates have gone up? The Fed just cut another 3/4 point.

lol…that funny Illinois! and true!

what kind of "excuse" is that?!  if anything, the bond market becomes MORE stable with the stock market in decline…

This is a University right?  I learned that in Macro…basic premise…

Hello?  Bueller…Bueller…….
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Re: Money Problems for the stadium?

Florida_Owl said

illinoisowl said


Interest rates have gone up? The Fed just cut another 3/4 point.

lol…that funny Illinois! and true!

what kind of "excuse" is that?!  if anything, the bond market becomes MORE stable with the stock market in decline…

This is a University right?  I learned that in Macro…basic premise…

Hello?  Bueller…Bueller…….

That's true but the sub-prime mortgage mess has made it harder to secure bonds.  Before they would practically loan money to anyone now banks are a little more leary.
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Re: Money Problems for the stadium?

lngbrdr said

That's true but the sub-prime mortgage mess has made it harder to secure bonds.  Before they would practically loan money to anyone now banks are a little more leary.

not to open another can of worms, but i dont like the fact that a bunch of people who bought into balloon mortgages, etc now have caused the rest of the sound financial market decisions makers to suffer a "penalty" due to the fact that they tried to spend beyond thier means…that is the "mess"…

let them default, and learn thier lesson…

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Re: Money Problems for the stadium?

The issue with that is there is a double standard.  The government bails out corporations all the time when they fail to be fiscally responsibly.  Although I agree with you on the face of it, there is definitely mixed messages since corporations are rarely allowed to simply fail to learn their lesson.

Plus there is the whole predatory lending practices issue.  Banks pretty much screwed themselves by lending to unqualified people when they thought they could stick it to them and make a bucketload of cash.

But overall yeh people need to know what they are getting into and be a bit more savvy.

Florida Atlantic University Owls
2007 Sun Belt Football Champions 2007 New Orleans Bowl Champions 2008 Motor City Bowl Champions 2011 Sun Belt Basketball Champions No Bowls without Owls
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Re: Money Problems for the stadium?

HOTEL said

From the Sun-Sentinel

"In other business, FAU is facing a potential snag in its effort to build a $62 million stadium, housing and retail complex called Innovation Village. Officials are trying to secure at least $5 million in cash and commitments from donors and sponsors to take the project to the bond market. But interest rates have gone up, and FAU lawyer David Kian said the university needs more money than expected. How much is unclear.

Officials have no plans to delay the project, now expected to open in 2010."

I'm not too worried. They'll figure it out.

P.S. I don't respond to guest posts. All guests are encouraged to register with the site.
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