RunInRed 16,409 Posted May 27, 2015 Share Posted May 27, 2015 Auburn is exploring plans for a future football-only complex on campus.The project, preliminary budgeted at $30 million, could be a new building or a mass renovation of the 26-year-old Athletics Complex on Donahue Road, AL.com has learned. "Something in the future has to be done," Auburn athletics director Jay Jacobs told AL.com. "The facility has served us well. We moved into it in June of 1989, but we have to keep moving. We have to create and have adequate space for our students and our coaches. You've just got to look at what we have and where we need to go. We're studying it." The Auburn University Board of Trustees was provided a document with preliminary costs with a budget of $30 million in 2018. Jacobs clarified and said he hopes to have a plan in place "within the next five years." Options include renovating the athletics complex or constructing a new football-only complex, which would allow administrators and other sports access to more space inside the athletics complex. "That's something we've been talking about," Auburn coach Gus Malzahn said. "We're always planning for the future." Auburn has undertaken several major projects in recent years to improve athletes' amenities on campus. The university opened a $6.6 million Wellness Kitchen in the summer of 2014, a year after opening a new $51 million residence hall across the street from the athletics complex. "We have a residence hall right across the street, an academic center, a dining facility and our weight room. So, where else can we grow? If we want to do a football-only building, where would we put that? Or we could renovate our athletics complex and make it football-only and move administration somewhere else." Auburn is updating Jordan-Hare Stadium with a new video scoreboard, the largest in college football, at a cost of $13.9 million. Stadium renovation plans in the north end zone are underway, with a cost projected to reach as high as $145 million, according to documents obtained by AL.com. http://www.al.com/auburnfootball/index.ssf/2015/05/auburn_exploring_construction.html Link to comment Share on other sites More sharing options...
KerryThachWDE 42 Posted May 27, 2015 Share Posted May 27, 2015 after seeing what A&M has, this is a must! Link to comment Share on other sites More sharing options...
ClaytonAU 4,606 Posted May 27, 2015 Share Posted May 27, 2015 And all of this money is coming from where...? Link to comment Share on other sites More sharing options...
AU-24 3,096 Posted May 27, 2015 Share Posted May 27, 2015 And all of this money is coming from where...? Donors. Link to comment Share on other sites More sharing options...
IronMan70 3,277 Posted May 27, 2015 Share Posted May 27, 2015 @ Clayton If they're smart the money is coming from a bond issue, borrowed at the lowest interest rates in 50 years, before interest rates begin to rise. The revenue share from the SEC network alone can meet much of the yearly obligation on the bond issue. Link to comment Share on other sites More sharing options...
ClaytonAU 4,606 Posted May 27, 2015 Share Posted May 27, 2015 @ Clayton If they're smart the money is coming from a bond issue, borrowed at the lowest interest rates in 50 years, before interest rates begin to rise. The revenue share from the SEC network alone can meet much of the yearly obligation on the bond issue. As long as tuition doesn't rise because of this I'm all for it. Link to comment Share on other sites More sharing options...
AU80cruiser 1,102 Posted May 27, 2015 Share Posted May 27, 2015 At the block party after the spring game it was announced that auburn was saving 1 billion $$ for new construction across campus. I think they were in the ballpark of over 700 million in savings prior to the Aday game and received a 57 million $$ donation that day or a notification it would be donated. This must be part of that billion. Link to comment Share on other sites More sharing options...
AUfan_UAgrad 230 Posted May 27, 2015 Share Posted May 27, 2015 And all of this money is coming from where...? From several bags. May take the bag man multiple trips this time. Link to comment Share on other sites More sharing options...
Metalsinger418 88 Posted May 27, 2015 Share Posted May 27, 2015 And all of this money is coming from where...? It's the rest of the money we promised Cam. Had to hide it away because of that pesky investigation. Link to comment Share on other sites More sharing options...
autig90 67 Posted May 27, 2015 Share Posted May 27, 2015 @ Clayton If they're smart the money is coming from a bond issue, borrowed at the lowest interest rates in 50 years, before interest rates begin to rise. The revenue share from the SEC network alone can meet much of the yearly obligation on the bond issue. Great point. Link to comment Share on other sites More sharing options...
Shift 350 Posted May 27, 2015 Share Posted May 27, 2015 And all of this money is coming from where...? It's the rest of the money we promised Cam. Had to hide it away because of that pesky investigation. Ha!!! ^^Post of the day right thur^^ Link to comment Share on other sites More sharing options...
AU-24 3,096 Posted May 27, 2015 Share Posted May 27, 2015 And all of this money is coming from where...? It's the rest of the money we promised Cam. Had to hide it away because of that pesky investigation. :cool:/> Oh geez, don't tell BSPN, they will do a special story on it. Link to comment Share on other sites More sharing options...
Randman5000 4,228 Posted May 28, 2015 Share Posted May 28, 2015 At the block party after the spring game it was announced that auburn was saving 1 billion $$ for new construction across campus. I think they were in the ballpark of over 700 million in savings prior to the Aday game and received a 57 million $$ donation that day or a notification it would be donated. This must be part of that billion. I think you are getting that mixed up with Auburn fundraising effort. none of the billion is going towards athletics if recollection is correct. Link to comment Share on other sites More sharing options...
Randman5000 4,228 Posted May 28, 2015 Share Posted May 28, 2015 after seeing what A&M has, this is a must! hope we come close to them at least because no one will touch what Oregon has. Link to comment Share on other sites More sharing options...
AU80cruiser 1,102 Posted May 28, 2015 Share Posted May 28, 2015 At the block party after the spring game it was announced that auburn was saving 1 billion $$ for new construction across campus. I think they were in the ballpark of over 700 million in savings prior to the Aday game and received a 57 million $$ donation that day or a notification it would be donated. This must be part of that billion. I think you are getting that mixed up with Auburn fundraising effort. none of the billion is going towards athletics if recollection is correct. Maybe, I was thinking it was campus wide but you may be correct. Link to comment Share on other sites More sharing options...
AUEngineer2016 407 Posted May 28, 2015 Share Posted May 28, 2015 And all of this money is coming from where...? All of the out of state students say hello. Link to comment Share on other sites More sharing options...
ClaytonAU 4,606 Posted May 28, 2015 Share Posted May 28, 2015 And all of this money is coming from where...? All of the out of state students say hello. You and I Link to comment Share on other sites More sharing options...
CameronCrazy 1,062 Posted May 28, 2015 Share Posted May 28, 2015 This is definite must to be able to keep up in recruiting. Alabama & LSU have superior facilities to us, but this would certainly narrow the gap. I just wish it was starting this year. Link to comment Share on other sites More sharing options...
War to the Eagle 364 Posted May 29, 2015 Share Posted May 29, 2015 @ Clayton If they're smart the money is coming from a bond issue, borrowed at the lowest interest rates in 50 years, before interest rates begin to rise. The revenue share from the SEC network alone can meet much of the yearly obligation on the bond issue. Great point. Interest rates aren't going anywhere significant anytime soon. If they increase in the coming months/years, it'll be slight. Link to comment Share on other sites More sharing options...
Dixie1860 27 Posted May 29, 2015 Share Posted May 29, 2015 I heard that ClaytonAU has promised to donate 50% of his annual salary to TUF, once he graduates!! Way to step up big guy! Link to comment Share on other sites More sharing options...
ClaytonAU 4,606 Posted May 29, 2015 Share Posted May 29, 2015 I heard that ClaytonAU has promised to donate 50% of his annual salary to TUF, once he graduates!! Way to step up big guy! Lol I better have my name somewhere on a building then someday! Link to comment Share on other sites More sharing options...
IronMan70 3,277 Posted May 29, 2015 Share Posted May 29, 2015 IronMan70, on 27 May 2015 - 04:22 PM, said: @ Clayton, If they're smart the money is coming from a bond issue, borrowed at the lowest interest rates in 50 years, before interest rates begin to rise. The revenue share from the SEC network alone can meet much of the yearly obligation on the bond issue. ----------------------------------- autig90, on 27 May 2015 - 06:38 PM, said: Great point. ----------------------------------- War to the Tiger, on 27 May 2015- 11:09 PM, said: Interest rates aren't going anywhere significant anytime soon. If they increase in the coming months/years, it'll be slight. ========================================================================================= We are at the end of the cycle now. Anytime between the Sept to December Fed. meetings, the Fed can begin the rate increase phase. That will end the policy of artificially low interest rates, in this case a zero rate. There is already some pressure on 30 year mortgage rates and 10 yr. notes (off of sub 2% yields) in anticipation. Once the market place is allowed to function on its own, nobody really knows how fast the yield curve will rise after that, because we have never come off of zero interest rates before. As with any economic discussion, the time frame is an important parameter. In a $150,000,000 project, the interval can be anywhere between 1, 2, 3 or 4 years. You can take your pick for Auburn. But we can be fairly certain that the cost of borrowing now will be less than it will be as we go out the timeline. Just a 1/4 % increase in the interest rate on a $150 million bond issue equates to $375,000 per year in additional borrowing costs. That is not an insignificant amount. All this is to say that, if an institution is going to borrow, the odds are in its favor to do it now rather than later. Link to comment Share on other sites More sharing options...
auburn4ever 1,266 Posted May 30, 2015 Share Posted May 30, 2015 Don't Just Say It. Claim It. Auburn National Championships. 1900, 1904, 1910, 1913, 1914, 1919, 1932, 1957, 1958, 1983, 1993, 2004, 2010. Link to comment Share on other sites More sharing options...
IronMan70 3,277 Posted May 30, 2015 Share Posted May 30, 2015 It's difficult to watch this video and feel real good about a football only facility any time soon. It is a video from Destin and near the end Jay Jacobs says the football only facility is "years down the road" and stands in line behind "the #1 priority", a new medical facility for all athletes. He also talks about the North EZ and he doesn't sound like the process is much further along than the studying phase. According to him they haven't decided what the mix of the seating will even be yet. Al.com video, 5/29/15,10:20 PM: http://videos.al.com..._auburns_p.html Link to comment Share on other sites More sharing options...
hutchids 227 Posted May 30, 2015 Share Posted May 30, 2015 IronMan70, on 27 May 2015 - 04:22 PM, said: @ Clayton, If they're smart the money is coming from a bond issue, borrowed at the lowest interest rates in 50 years, before interest rates begin to rise. The revenue share from the SEC network alone can meet much of the yearly obligation on the bond issue. ----------------------------------- autig90, on 27 May 2015 - 06:38 PM, said: Great point. ----------------------------------- War to the Tiger, on 27 May 2015- 11:09 PM, said: Interest rates aren't going anywhere significant anytime soon. If they increase in the coming months/years, it'll be slight. ========================================================================================= We are at the end of the cycle now. Anytime between the Sept to December Fed. meetings, the Fed can begin the rate increase phase. That will end the policy of artificially low interest rates, in this case a zero rate. There is already some pressure on 30 year mortgage rates and 10 yr. notes (off of sub 2% yields) in anticipation. Once the market place is allowed to function on its own, nobody really knows how fast the yield curve will rise after that, because we have never come off of zero interest rates before. As with any economic discussion, the time frame is an important parameter. In a $150,000,000 project, the interval can be anywhere between 1, 2, 3 or 4 years. You can take your pick for Auburn. But we can be fairly certain that the cost of borrowing now will be less than it will be as we go out the timeline. Just a 1/4 % increase in the interest rate on a $150 million bond issue equates to $375,000 per year in additional borrowing costs. That is not an insignificant amount. All this is to say that, if an institution is going to borrow, the odds are in its favor to do it now rather than later. the real economy still sucks. even with low rates, most people, even with decent jobs that I know can't afford anything major. Rates will stay low for a while. Link to comment Share on other sites More sharing options...
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