Stroh center bid $6 million under projected

[transfer2BGSU]

IF the university takes all of the lowest bids, then they will ask for $16 million in bonds from the state of Ohio for the Stroh Center project.

They projected the cost to be $36 million and have raised $14million leaving a balance of $22 million to raise. If the bids total $16 million, the state of Ohio is not going to lend us $22 million in bonds for construction,

You want to purchase a house and it is only going to cost you $250,000. Is the bank going to lend you $300,000? Not today (maybe last year).

The Stroh Center project has absolutely NO IMPACT on the status of the hockey team and the ice arena.

[bgpuckster]

See below.

[bgpuckster]

IF the university takes all of the lowest bids, then they will ask for $16 million in bonds from the state of Ohio for the Stroh Center project.

They projected the cost to be $36 million and have raised $14million leaving a balance of $22 million to raise. If the bids total $16 million, the state of Ohio is not going to lend us $22 million in bonds for construction,

You want to purchase a house and it is only going to cost you $250,000. Is the bank going to lend you $300,000? Not today (maybe last year).

The Stroh Center project has absolutely NO IMPACT on the status of the hockey team and the ice arena.

Disagree completely. If the bank has approved you financially for $300,000 then they have deemed you worthy of repaying said loan. The ability to repay the loan is the most important thing today. Obviously the University has the ability to repay $22 million, whether that is used for the Stroh or a combination of $16 million to the Stroh and $6 million to the Ice Arena.

In this case, the University has decided it can repay a $22 million bond. It is within the University's complete control to decide to whether to take on an additional $6 million bond (or some other number under that) for the Ice Arena. Actually, if the two bonds together don't exceed $22 million, the University has already made the financial decision. This really isn't that hard to comprehend is it?

[dforde]

I would think all bets are off now with the announcement that the state is cutting $170 million from colleges and universities. Even if we raise tuition the allowed 3.5%, we won't make up our share of the cut which could be, I am guessing, 5 to 6 million.

[bgsufalcon24]

I would think all bets are off now with the announcement that the state is cutting $170 million from colleges and universities..

Fudge!

John Kasich for governor 2010!!!

[NWLB]

Why not just close Ohio State and send the money and students to places that aren't totally full of themselves.

[Ydfalcon]

Why not just close Ohio State and send the money and students to places that aren't totally full of themselves.

Probably wouldn't want to pay the police and other emergency personnel that would be required to handle the ensuing riots and/or suicide attempts.

[NWLB]

Why not just close Ohio State and send the money and students to places that aren't totally full of themselves.

Probably wouldn't want to pay the police and other emergency personnel that would be required to handle the ensuing riots and/or suicide attempts.

I lived down there, read the Dispatch. Doesn't cost them much after national title games!

[BGWriter]

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...

As an alum whose fees were used to build a student activities facility that none of us in that era ever got to use -- it simply doesn't work that way.

Consider this paying forward and be proud you were a part of it.

[bgpuckster]

I read where someone high up in the University, not Dr. Cartwright but can't remember his name, said that there is a law that states they can't move any money raised for the Stroh Center. Really? So the money that was raised to pay for the Ice Arena went where after it was paid off? I know there was not a reduction in student fees so that means it's still being collected. It hasn't been used on the Ice Arena, so where is it? What is it being used for? Bet they can't find it. Isn't there a law against losing the money too?

[It's the Journey...]