Stroh center bid $6 million under projected

bgpuckster · Post by **bgpuckster** » Fri Jul 10, 2009 11:41 am

http://www.sent-trib.com/stnew/index.ph ... Itemid=115

Looks like a substantial savings that should be used for the Ice Arena.

TG1996 · Post by **TG1996** » Fri Jul 10, 2009 11:52 am

Is the $18 million original estimate something that money has already been handed out for, or was it going to be part of a proposal to the state or come from a loan the Univ. was expected to take out? And if it's already money "in hand" from the state or such, would it be allowed to be transferred to another project.

Obviously, it would be awesome if it were, but I don't know if this is money we're saving, or money we just don't have to spend.

Either way, it's great news for the university to get a 30% break on a brand new building!

bgpuckster · Post by **bgpuckster** » Fri Jul 10, 2009 12:05 pm

All I know is the University planned on spending the money on an athletic building, so they were expecting and planning for the extra $6 million to be spent. Lets spend it on the Ice Arena and get both a brand new Basketball Arena and a renovated Ice Arena for the same price they thought Stroh was going to cost. What a deal! There may be some technicalities, but they surely can be easily overcome if the desire is there to do it.

dforde · Post by **dforde** » Fri Jul 10, 2009 1:10 pm

I wonder what Mr. Vivian's take on this is? I know nothing about this kind of stuff but I am sure he is well versed. This would be awesome if it could happen.

Puckhead · Post by **Puckhead** » Fri Jul 10, 2009 3:00 pm

The news article says that the entire project is $ 36M; $ 14m from private donations and $ 22m from state bonds.
The building was estimated to cost $ 18.9 M; the bids are $ 6M less. Let's see the Administration can:
1. expand the project so they can spend an extra 6m on the Stroh
2. send 6 M back to the state
3. send 6m back to the donors
4. ask the donors if they mind diverting their donation to the ice arena
5. divert the money to rehab other univesity buildings
6. I'm sure the football prgram needs something

The University is now at a fork in the road. ( hopefully they will not pick up the fork and walk away)
If they divert $ 3 M from the savings at the Stroh to the Ice Arena,
they will be sending a signal to the Alumni and Fans. Money will flow into the hockey program and the Arena,( if there is a money back guarantee promised).
Maybe we should ask Mr. Stroh his opinion?

Tricky_Falcon · Post by **Tricky_Falcon** » Fri Jul 10, 2009 3:57 pm

GC said in the recent ask the AD that the football video board will need to be updated. $6 million should cover it

.

NWLB · Post by **NWLB** » Fri Jul 10, 2009 5:10 pm

The video board does blow. It had a washed out look from day one.

But in this case, hockey should take priority.

It would require an excuse from the Pope to explain why they don't do the obvious here.

Anything other than "we need to invest the savings in the Ice Arena," and they'll lose major donors.

threestooges · Post by **threestooges** » Fri Jul 10, 2009 8:20 pm

I'd be interested to know how many 'major donors' exist in the first place. I'm not trying to be a smartazz, I'm just saying that there must not be very many, or else the athletic dept would've been a lot farther along on the Ice Arena project -- among other things -- by now.

jg4242 · Post by **jg4242** » Fri Jul 10, 2009 9:31 pm

There's a 7th option that is going to be far and away the most politically sound move: Take the $6M savings and give it back to the students who are funding the building with their $50 per semester...

Bleeding Orange · Post by **Bleeding Orange** » Fri Jul 10, 2009 10:32 pm

jg4242 wrote:There's a 7th option that is going to be far and away the most politically sound move: Take the $6M savings and give it back to the students who are funding the building with their $50 per semester...

No, besides the whiney bunch of juniors this past year, no one gives a crap about the fifty dollars. All incoming students will know is that they are getting a shiny new arena, and they will be extremely thankful for that when they walk into Anderson for the first time (one of the many perks of it still being around).

On the surface this does sound like good news for the hockey program, but everyone needs to bear in mind that there are pretty tight mandates that come along with accepting state dollars for a project of this nature, and state bonds are paying for the bulk of it. All I'm saying is, if it turns out that the state restricts using the funds for a building other than what it was initially allotted for, it doesn't mean that there is some sort of conspiracy against hockey out there. The neurosis that some of you suffer from is astounding and I would hate to see it get worse, so fair warning.

NWLB · Post by **NWLB** » Sat Jul 11, 2009 11:21 am

threestooges wrote:I'd be interested to know how many 'major donors' exist in the first place. I'm not trying to be a smartazz, I'm just saying that there must not be very many, or else the athletic dept would've been a lot farther along on the Ice Arena project -- among other things -- by now.

If you think that, and actually think the athletics department has been fleet footed in pursuing what there is, you haven't followed this topic at all.

bgpuckster · Post by **bgpuckster** » Sun Jul 12, 2009 10:47 am

threestooges wrote:I'd be interested to know how many 'major donors' exist in the first place. I'm not trying to be a smartazz, I'm just saying that there must not be very many, or else the athletic dept would've been a lot farther along on the Ice Arena project -- among other things -- by now.

Either way, the University has $7.5 million more available to them this year than last for the Ice Arena. The State of Ohio has come up with $1.5 million and now the University just got a $6 million break on the Stroh Center. The donors money can now go to endow scholarships for the team. The University needs to step up and publicly state that they have the funds for the Ice Arena renovation and it will happen. They then need to lift the one year limit for the hockey team, ask for donations for scholarships (with guarantees the money will be returned to all donors if they shut the program down). The true question that remains to be answered is, does GC, President Cartwright and the Board of Trustees really support hockey? Excuses are running short with money now available.

Further, the scholarship endowment, IMO, is a smoke and mirrors subject. Without endowment, scholarships cost the University what in real dollars? By that I mean, what money is changing hands between the University and an outside source? I'm not an expert, but I believe it to be an internal accounting function between the Athletic department and the Education department, thus costing the University overall next to nothing.

KeyWestParrot · Post by **KeyWestParrot** » Sun Jul 12, 2009 1:40 pm

threestooges wrote:Either way, the University has $7.5 million more available to them this year than last for the Ice Arena. The State of Ohio has come up with $1.5 million and now the University just got a $6 million break on the Stroh Center.

I'm not sure how the process works with bonds and all but I don't think it can be looked at as having $6 million in surplus laying around waiting to be spent. I would guess that if the estimates come in $6 million lower than the anticipated cost then maybe the university will ask for less in bonds for the Stroh project. Plus, as with any project I'm sure they will have to take into consideration possible cost overruns.

BGDrew · Post by **BGDrew** » Sun Jul 12, 2009 1:43 pm

Also remember that any money donated that was explicitly directed towards the Stroh Center has to go there. It's the same case if you ask that your Falcon Club dues go to hockey.

bgpuckster · Post by **bgpuckster** » Sun Jul 12, 2009 3:03 pm

Unless the University was crazy, the way it usually works is you estimate the budget, get donations, and then the University would determine what they could financially carry in bonds. Remember the Ice Arena renovation was stopped long before any bids went out. In other words, the $6 million savings is in the University's budget going forward. The University calculated they could carry that $6 million in their financial budget. We are not talking about the donated money to the Stroh center, but the bond money. Again, it comes down to the desire on GC, President Cartwright and the BOT to do something for hockey.

One year ago there was a LOT less money for the Ice Arena compared to now and the University was willing to put up $4 million thinking the Stroh Center was going to cost $6 Million more. We now have the $1.5 million from the State along with the surprise savings on the Stroh. It's not about money! It never has been IMO, It's always been about priorities.

Stroh center bid $6 million under projected

Stroh center bid $6 million under projected

Not sure