Construction

UNTflyer · January 7, 2009

I understand your point, but those conversations we had about completion dates didn't just come out of the blue. All of the speculation/discussion was based on statements, whether public or from insiders, from representatives of the athletic department.
I also understand that the department might have been slightly overconfident in their ability to make this happen in those time frames. Until I see a formal statement that we are breaking ground, I'll continue to not get my hopes up. I seriously wouldn't be surprised at all if this thing wasn't ready until the 2013 season.

Yes, I understand. I'm sure if it were up to the Athletics Department, we'd break ground next week. But it's a Board of Regents decision, and we still need the legislature to approve the fee. Breaking ground in 12 months is really not a bad thing.

Huff · January 7, 2009

I find this whole thread a little interesting. Back between Thanksgiving and Christmas Rick V was telling people that there would be a groud breaking for the new stadium this Spring. When I ask the President of the University about it she said that it was not going to happen. When I reported that conversation to this group I got jumped on for being so darned negative. Well, folks it ain't gonna happen this Spring or early summer is it? Now, the ground breaking has been pushed back. Does anyone really believe that this is the last time there will be a pushing back of the starting date?

I know that the student vote pledged half of the construction cost for the new stadium. That is wonderful but it cannot go into effect until after the stadium is finished. I still do not understand where the University will get the FIRST 30 million or so that is needed to get construction started. If I am a member of the Board of Regents I would not vote to start construction until I KNEW where that first 30 million was coming from. Can anyone help me to understand where the University gets the first 30 million dollars because I am clueless about that - and many other things.

UNTflyer · January 8, 2009

I still do not understand where the University will get the FIRST 30 million or so that is needed to get construction started. If I am a member of the Board of Regents I would not vote to start construction until I KNEW where that first 30 million was coming from. Can anyone help me to understand where the University gets the first 30 million dollars because I am clueless about that - and many other things.

Where did you get the first $75,000 to build your house?

There seems to be this ongoing fallacy that we have to have $60 million in hand to build a stadium. We don't. It will be a mortgage.

Edited January 8, 2009 by UNTflyer

Green Dozer · January 8, 2009

Where did you get the first $75,000 to build your house?
There seems to be this ongoing fallacy that we have to have $60 million in hand to build a stadium. We don't. It will be a mortgage.

A few years ago, you could get a mortgage and not prove how you are going to pay for it. Thus, the mess we are in now. You now have to prove how it is to paid for, nobody is just going to give UNT 60 million dollars. Huff understands that the fee will pay 30 million. Where is the rest (the other 30 million) coming from is what he wants to know? And nobody can seem to answer or understand that. How does an athletic program that lost 3 million dollars over the past year get a note for 60 million? It is my understanding state funds cannot be used.

UNT90 · January 8, 2009

A few years ago, you could get a mortgage and not prove how you are going to pay for it. Thus, the mess we are in now. You now have to prove how it is to paid for, nobody is just going to give UNT 60 million dollars. Huff understands that the fee will pay 30 million. Where is the rest (the other 30 million) coming from is what he wants to know? And nobody can seem to answer or understand that. How does an athletic program that lost 3 million dollars over the past year get a note for 60 million? It is my understanding state funds cannot be used.

It's the University that's applying for the loan, not the athletic department, so the University's credit is the only thing that matters. I have talked to a person in the mortgage business, who told me that for home loans, it's gone to 20% down with excellent credit. I'm sure there are those on hear much more familiar with commercial construction loans who could shed some light on the subject.