Domed or Doomed: JSU's Plans for New Stadium





Re: Say What? (Jackson State)

Voice of Reason said:
Incorrect... $75mil was from the State Treasury not a Bond! There's that knowledge again! lol
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Which was declined. So how will the $75 million get replaced now that the project has increased in construction cost from $200 million to anywhere between $250 million to $280 million? The increase construction cost wipes out what the school was asking the State to chip in with.
 
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Re: Say What? (Jackson State)

Voice of Reason said:
Incorrect... $75mil was from the State Treasury not a Bond! There's that knowledge again! lol
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Your arse don't even know what the hell you're talking about.


http://www.jacksonfreepress.com/news/2013/feb/22/jsu-announces-200-million-dome/
House Bill 1589, which would allow the state to issue up to $75 million in general obligation bonds to help fund the stadium
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http://www.jacksonfreepress.com/news/2014/jan/24/jsu-domed-stadium-not-dead/
State Rep. Alyce Clarke, D-Jackson, has introduced legislation to authorize $75 million in bonds for Jackson State.
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Re: Say What? (Jackson State)

Voice of Reason said:
It's from multiple sources with majority from Bonds as the primary! However there are varying mechanism for funding but the lion share will be from it! I hope that helps.... The $440K of funds that was mentioned in the "Study" were for operational shortfalls if those projections held true. Again these are projections as any Smart institution should do their Due Diligence in understanding the potential landscape.

To go a step further for you, when JSU propositioned the legislature for money ($75M) for the stadium it's not because it's required to get it built, it's to reassure the investment community from a rating perspective that it is a safe bet to issue such bonds! It's important to have that to get favorable ratings. Bonds...
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Ok, this is how Grambling paid for our dorms. 240-280 million dollars seems like a lot of debt for a school the size of JSU, but I expect JSU to have high Moody's credit rating to ensure investors that they are able to handle such a large amount of debt. I wish Grambling should issue bonds for building projects.
 
Re: Say What? (Jackson State)

GramblingMan2009 said:
Ok, this is how Grambling paid for our dorms. 240-280 million dollars seems like a lot of debt for a school the size of JSU, but I expect JSU to have high Moody's credit rating to ensure investors that they are able to handle such a large amount of debt. I wish Grambling should issue bonds for building projects.
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The State already said they are not in the business of building college athletic venues. Not many schools, including school in the Big 5 Conferences have that kind of money for one big stadium project.

"Mississippi taxpayers should not be asked to subsidize college athletic venues," Lt. Gov. Tate Reeves said in a statement. Our limited budget for IHL should be focused on preparing students to graduate from our universities with the job skills needed for today's economy. Across the country, college athletics are supported through private donations, ticket revenue and sponsorships."
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Re: Say What? (Jackson State)

jag4life said:
Your arse don't even know what the hell you're talking about.


http://www.jacksonfreepress.com/news/2013/feb/22/jsu-announces-200-million-dome/


http://www.jacksonfreepress.com/news/2014/jan/24/jsu-domed-stadium-not-dead/
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And that was voted down. Now that the price tag has gone up, where are they going to get the $75 million plus the increase construction cost to fund the project, which is approximately $125 million to $155 million of the total package of $250 million to $280 million.
 
Re: Say What? (Jackson State)

GramblingMan2009 said:
Ok, this is how Grambling paid for our dorms. 240-280 million dollars seems like a lot of debt for a school the size of JSU, but I expect JSU to have high Moody's credit rating to ensure investors that they are able to handle such a large amount of debt. I wish Grambling should issue bonds for building projects.
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You guys might have to get in with a UL System-wide bond deal ...
 



Re: Say What? (Jackson State)

JAG89 said:
Exactly what projects does Grambling needs the most?
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A BRAND NEW LIBRARY AND SCIENCE BUILDING! The state just spent 3 million on the old one, but it's still isn't suitable for a modern university. We are trying to increase our reseach capacity, the state just gave us 2 million for technology upgrades, but we need new buildings!
 
Re: Say What? (Jackson State)

GramblingMan2009 said:
A BRAND NEW LIBRARY AND SCIENCE BUILDING! The state just spent 3 million on the old one, but it's still isn't suitable for a modern university. We are trying to increase our reseach capacity, the state just gave us 2 million for technology upgrades, but we need new buildings!
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Those are good investments. What type of research is Grambling considering expanding? I know computer science, nursing, and education are some of y'all biggest program.
 
Re: Say What? (Jackson State)

JAG89 said:
Two things I've noticed in the article which I have said all along, the seating capacity has gone down while the construction cost has gone up. And it will continue to go up as more time is wasted on finding money to fund construction and operation. It has gone from a 50k seat arena with a price tag of $200 million to a 35k seat arena with a price tag between $250 million to $280 million. It would seem like Da Queen's PhD degree and real life EXPERIENCE in engineering would tell her that construction cost for large projects increases about 5% to 10% every year.
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sure will... we got a 21,000 seat stadium for 10 million in 1996.
 
Re: Say What? (Jackson State)

What ever the case is, I hope they get what they want. With a 35K stadium, there won't be anymore 60K+ crowds vs. S.U. though. I'm sure if they can pull it off it can be made up with other events though.
 
Re: Say What? (Jackson State)

JAG89 said:
Those are good investments. What type of research is Grambling considering expanding? I know computer science, nursing, and education are some of y'all biggest program.
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Grambling is doing a great job at producing STEM grads, we currently among the top colleges at producing black PH.D candidates in the STEM majors.
 
Re: Say What? (Jackson State)

JROCK said:
What ever the case is, I hope they get what they want. With a 35K stadium, there won't be anymore 60K+ crowds vs. S.U. though. I'm sure if they can pull it off it can be made up with other events though.
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I hope they get it too, it's would be great for HBCUs !
 
Re: Say What? (Jackson State)

DAHILL said:
sure will... we got a 21,000 seat stadium for 10 million in 1996.
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It's the norm and should be expected. Anyone with a little construction knowledge should know that. Material cost really jumped after Katrina and they haven't really came back down since. I like how business majors thinks they know a lot about the construction industry and think they can make things work with a little of nothing. Big construction firms want their money upfront and when they bid on a job, they want every penny that was in their bid and plus some.
 
Re: Say What? (Jackson State)

JROCK said:
What ever the case is, I hope they get what they want. With a 35K stadium, there won't be anymore 60K+ crowds vs. S.U. though. I'm sure if they can pull it off it can be made up with other events though.
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Even with 50k there won't be anymore 60k+ crowds, which is why I think they should do an open air stadium that is expandable. Domes are almost impossible to expand. Even with Mumford, the south end zone can be closed in and another level can be added on the East side.
 
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Re: Say What? (Jackson State)

GramblingMan2009 said:
The idea behind a dome on either the school's campus or directly adjacent to it is for it to serve as more than just a football stadium. The study, done by national consulting firm B&D Venues, would have to host other events that included conference championship games, concerts, meetings, corporate events and banquets.
To reach the projected $400,000 operating deficit, B&D estimated the dome would have to generate a minimum of 63 ticketed events with a combined attendance of at least 343,000. The primary revenue stream would be JSU's annual $1.6 million lease payment.

http://www.clarionledger.com/story/news/2014/09/25/public-money-needed-proposed-jsu-dome/16243675/

WHY WOULD JSU PAY A LEASING FEE ON SOMETHING THAT SHOULD BELONG SOLELY TO THEM??
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That's actually the same thing Tenn. St. is or was doing under the contract at the now defunct "Adelphia Stadium" even though they are sharing it with the Titans.
 
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