The $35 Million Practice Facility

[Pantherholic]

What kind of timeframe are we looking at to fundraise? How long did it take for the Al to have the necessary funds raised? For a program like us to raise that kind of money will take at least a decade. We don't have that kind of time.

[PantherU]

A new practice facility is absolutely happening. I'm just trying to make sure it's the kind of facility that truly elevates the program instead of brings us up to our peers in the Horizon League.

[PantherU]

Oct 5, 2013 20:20:31 GMT -6 Pantherholic said:

What kind of timeframe are we looking at to fundraise? How long did it take for the Al to have the necessary funds raised? For a program like us to raise that kind of money will take at least a decade. We don't have that kind of time.

Do you recall the student "arena fee" of $25 per semester passed while George Koonce was AD?

Last year, the administration suspended the collection of the fee while they worked with the SA to restructure it as an "athletics facilities fee." The reason is because the fee as it was structured could only be used towards building a new arena for the basketball team. By restructuring the fee they can now use it for any facilities for athletics.

The fee is back - it is still a 25-year fee, it just skipped last year - but now it can be used for all of our athletics facilities projects. That includes the baseball stadium, the indoor track and field facility and of course this basketball practice facility.

That's $1,250 per student over the next 25 years (full-time). If we never go above or below 24,000 full-time students - I use this number because it's lower than we have been at any point in the last decade but is still close enough to give a decent idea - we will raise a solid $30,000,000 from the fee alone. If we take out bonds like UW is doing with its football practice facility, we could start construction tomorrow. I think they want to raise as much as they can so they can use the rest of that money towards other facilities, namely the baseball stadium and indoor track and field/soccer/baseball practice facility.