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BOT Meeting for July 22nd - Looks like we are Stadium bound...

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Re: BOT Meeting for July 22nd - Looks like we are Stadium bound...

BOT Meeting for July 22nd - Looks like we are Stadium bound...

As long as the plan is in place and shovels are in the ground this year, I'm more then willing to give them until 2011 if necessary.† I'll gladly trade 1 extra season in Lockhart so long as this thing is being built and both players and fans know that the OCS is on the way.
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Re: BOT Meeting for July 22nd - Looks like we are Stadium bound...

I have to agree.† I think as long as fans see that work in getting done and the construction is under way, they will be mean lenient on when the stadium is ultimately finished.
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Re: BOT Meeting for July 22nd - Looks like we are Stadium bound...

I'm sorry if this has been covered before but is this meeting open to the public?
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Re: BOT Meeting for July 22nd - Looks like we are Stadium bound...

theblackmaria6 said

I'm sorry if this has been covered before but is this meeting open to the public?

The BOT meeting is open to the public. However, if you wish to speak, you must fill out a public comment card.

It will take place in the Great Hall of the Marleen & Harold Forkas Alumni Center.

I'm a proud lifetime member of the FAU National Alumni Association. Are you a member? Join now at www.faualumni.org.
Tradition in the Making, One Alum at a Time…
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Re: BOT Meeting for July 22nd - Looks like we are Stadium bound...

smittysahoot said

theblackmaria6 said

I'm sorry if this has been covered before but is this meeting open to the public?

The BOT meeting is open to the public. However, if you wish to speak, you must fill out a public comment card.

It will take place in the Great Hall of the Marleen & Harold Forkas Alumni Center.

Do you realize how hard this was for me to keep a secret!
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Re: BOT Meeting for July 22nd - Looks like we are Stadium bound...

Looking at the future schedules, I think I see the easy solution for the Michigan State game.† Let's play them at MSU next year instead of here, and then they play us in our new stadium to open it up in 2011.† We are scheduled to play them at MSU Sept 10, 2011.† It gives us time to do it right!!
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Re: BOT Meeting for July 22nd - Looks like we are Stadium bound...

fauowl said

Looking at the future schedules, I think I see the easy solution for the Michigan State game.† Let's play them at MSU next year instead of here, and then they play us in our new stadium to open it up in 2011.† We are scheduled to play them at MSU Sept 10, 2011.† It gives us time to do it right!!

Sept, 10, 2011 … or 09/10/11.† *play horror music now*

We shold kick off at 12:13:14, so it would be 09/10/11 at 12:13:14

OK I'm done now.† :D

I'm a proud lifetime member of the FAU National Alumni Association. Are you a member? Join now at www.faualumni.org.
Tradition in the Making, One Alum at a Time…
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Re: BOT Meeting for July 22nd - Looks like we are Stadium bound...

OWLUMNI said

smittysahoot said

theblackmaria6 said

I'm sorry if this has been covered before but is this meeting open to the public?

The BOT meeting is open to the public. However, if you wish to speak, you must fill out a public comment card.

It will take place in the Great Hall of the Marleen & Harold Forkas Alumni Center.

Do you realize how hard this was for me to keep a secret!

I think it's pretty common knowledge that the meeting is open to the public but either way, we're proud of you for keeping your mouth shut† ;D ;D ;D
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Re: BOT Meeting for July 22nd - Looks like we are Stadium bound...

Kim Miller has a new article about the financing plan:

http://www.palmbeachpost.com/localnews/content/local_news/epaper/2009/07/20/0720fauball.html

FAU football stadium closer to kick off under new development proposal
Click-2-Listen
By KIMBERLY MILLER

Palm Beach Post Staff Writer

Monday, July 20, 2009

A football stadium for Florida Atlantic University is one step closer to kick off under a development proposal with the Boca Raton firm Crocker Partners.

The plan, which will be discussed Wednesday by FAU trustees, begins with the construction of a $69 million, 1,226-bed residence hall that is part of the school's "Innovation Village."

How Florida Atlantic University may pay for its football stadium.

$12 million would go to FAU at the closing of a bond transaction for new residence halls to be built and managed by Crocker.

The village includes a proposal for a long-sought 30,000-seat football stadium as well as retail space that so far FAU has been unable to finance.

While some details for the new residence hall must still be hammered out, construction would be paid for with the sale of tax exempt bonds or taxable Build America Bonds through an independent direct support organization of the university. Most of the proceeds from the bond sale would go to Crocker Partners to finance the residence hall construction.

An estimated payment of $12 million would be made to FAU up front from the bond sale proceeds. That money would then be used to help pay for the development of other facilities within Innovation Village.

Crocker Partners would operate, maintain, and collect a portion of the proceeds from rent and fees of the new residence hall as well as FAU's current residence halls.

Crocker Partners is responsible for many well known Palm Beach County developments, including Mizner Park in Boca Raton and the new 18-story CityPlace Tower in West Palm Beach.

No one from Crocker Partners returned calls for comment.

"The $12 million as well as any additional revenues can be applied to any component of Innovation Village, including the stadium," said FAU General Counsel David Kian, who is overseeing the plan. "It will provide a very important infusion of up-front cash that can be applied to the stadium's own financing plan."

Kian said the plan giving Crocker management rights to FAU's residence halls will include termination provisions.

The FAU Board of Trustees has said no public money can be used to pay for the estimated $62 million football stadium, leaving school officials scrambling in the current economy for private fund-raising dollars.

The Crocker deal is an alternative that will provide the initial capital needed to go to the bond market.

As originally proposed, concession and novelty item sales, parking fees, ticket sales and leasing of premium seats would help the stadium pay for itself over the life of a 30-year bond. Private fund-raising dollars would also be necessary, consultants warned in 2007 when trustees gave the go-ahead to pursue financing for the stadium.

"As we are presenting information to banks, we are going to need hard evidence of community support," said FAU's Vice President for Finance Ken Jessell at the time. "I'm speaking from the heart: We need the corporate and business support, the support of alumni, of students, faculty, staff; we are going to need the support of this community. If we don't get that, then this will not happen."

With the funding plan for the stadium still in its very early stages, the promised fall 2010 opening date isn't likely.

According to Wednesday's proposal, the residence hall won't be ready until August 2011, and that's if construction begins between this November and February 2010.

A second residence hall, also built by Crocker, will be constructed at a later date as needs merit. Both are expected to market exclusively to upper-division undergraduates and professional students.

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Re: BOT Meeting for July 22nd - Looks like we are Stadium bound...

TeamBeer said

OWLUMNI said

smittysahoot said

theblackmaria6 said

I'm sorry if this has been covered before but is this meeting open to the public?

The BOT meeting is open to the public. However, if you wish to speak, you must fill out a public comment card.

It will take place in the Great Hall of the Marleen & Harold Forkas Alumni Center.

Do you realize how hard this was for me to keep a secret!

I think it's pretty common knowledge that the meeting is open to the public but either way, we're proud of you for keeping your mouth shut† ;D ;D ;D

I know the meeting is public, I meant what was going to be said at the meeting, which is why they are setting it up at the Alumni center.

Which by the way is a great location to hold special receptions, bat mitzvah, first holy communion, sweet sixteen, family reunions, anything you want we will make it special!
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