Developer offers $12.5 million to build stadium project
Posted
#215683
(In Topic #34444)
VIP DONOR
Member since 2007
Ladies and gentleman, the stadium…..
I don't want to count my chickens before they hatch, but I think we are one step closer to saying TOUCHDOWN!
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Posted
Wise Owl
Member since 2006
Re: Developer offers $12.5 million to build stadium project
Developer offers $12.5 million to build stadium project
My two favorite teams are FAU, and who ever is beating FIU!
Posted
Wise Owl
Member since 2006
Re: Developer offers $12.5 million to build stadium project
Somehow I think that may come back and bite us in the butt. 50 years they give the profits of the dorms to the developing team? That's a long time to be under obligation to give up revenue.
My two favorite teams are FAU, and who ever is beating FIU!
Posted
VIP DONOR
Member since 2006
Re: Developer offers $12.5 million to build stadium project
Jab979 said
"Crocker would give FAU the money and then keep profits from the renting of the residence hall rooms. Under the June offer, that agreement would give Crocker 30 acres of land for a term of up to 50 years."
Somehow I think that may come back and bite us in the butt. 50 years they give the profits of the dorms to the developing team? That's a long time to be under obligation to give up revenue.
True, but we NEED that stadium now and we just got an unanticipated $170 million for broadband we dont use. But wow, 50 years is a loooooooong time.
Teambeer is the most knowledgeable FAU sports fan I know, way smarter than me.
Posted
VIP DONOR
Member since 2006
Re: Developer offers $12.5 million to build stadium project
Teambeer is the most knowledgeable FAU sports fan I know, way smarter than me.
Posted
VIP DONOR
Member since 2005
Re: Developer offers $12.5 million to build stadium project
Posted
Administrator
Member since 2006
Re: Developer offers $12.5 million to build stadium project
Been saying all along that the development deal is a cash cow, and that companies were lined up like pigs at the trough to be "a part of it"…
FAU will still wait for a no strings attached offer into the eleventh hour…
Now, if she can uncover a sponsor pledge prior to it going public, rather than a four month old announcement regarding potential development rights in exchange for rental monies from housing proceeds, i will be impressed with her "journalism"…
Posted
Wise Owl
Member since 2007
Re: Developer offers $12.5 million to build stadium project
Jab979 said
"Crocker would give FAU the money and then keep profits from the renting of the residence hall rooms. Under the June offer, that agreement would give Crocker 30 acres of land for a term of up to 50 years."
Somehow I think that may come back and bite us in the butt. 50 years they give the profits of the dorms to the developing team? That's a long time to be under obligation to give up revenue.
Agreed, but look at it this way, With the stadium football could concieveably start making a lot of money, Basketball could too, Jarvis seems to be able to draw talent. Those are the 2 "Money Makers" in college atheletics. Yes it will sting to lose the revenue for that long, but it would accomplish the goal of getting athletics into the next level.
I have come here to chew bubble gum and kick @$$ and I'm out of bubble gum.
Posted
Wise Owl
Member since 2007
Re: Developer offers $12.5 million to build stadium project
Still though, if you grant a private company housing rights, it can be a very good deal, or a very bad deal. People who are much smarter than I would have to pour over the contracts and think about all the possible ramifications of turning over housing rights. I always thought that this couldn't happen because this is state land? Do other state colleges do this, or would we be the first?
FAU - We got Bowls!
Posted
VIP DONOR
Member since 2007
Re: Developer offers $12.5 million to build stadium project
Florida_Owl said
I don't want to be "sour sally" here, and please dont take this as such, but this is not news…
Been saying all along that the development deal is a cash cow, and that companies were lined up like pigs at the trough to be "a part of it"…
FAU will still wait for a no strings attached offer into the eleventh hour…
Now, if she can uncover a sponsor pledge prior to it going public, rather than a four month old announcement regarding potential development rights in exchange for rental monies from housing proceeds, i will be impressed with her "journalism"…
I'm tired of all the ambiguity. FAU has had more than enough time to nab their deal.
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