MemTigers1998
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RE: Nice Updates Today in Commercial Appeal
(05-19-2023 05:40 PM)BinghamptonNed Wrote: (05-19-2023 11:10 AM)Stammers Wrote: (05-19-2023 10:34 AM)Claw Wrote: (05-19-2023 10:02 AM)Stammers Wrote: (05-19-2023 09:52 AM)Claw Wrote: USF is issuing $200 million in 20-year bonds to finance their new stadium.
We are way ahead of the game thanks to the state money.
They announced plans in 2021 and there hasn't been a peep that I can find about how fundraising has gone. I think it's pretty safe to assume that aside from the $22 million for design and planning, fundraising hasn't gone well at all.
At the end of the day it looks like it will get built, so that's all that counts.
Per a poster on the Conference Expansion board:
USF Stadium
Initial price tag: $340 million
University Funded: $140 million
Seeking Loan: $200 million, 20 years, 5.5% fixed interest rate
Stadium will be 35,000-seat structure
Source:
Based on monthly payments they would pay roughly $16.5 million per year and $331 million over the course of the 20 years. The prime lending rate is 8.25% and seemingly rising, so this would be a major bargain and a major risk to the state. At 8.25% the payments would be $20.5 million and $412 million respectively.
they will make the $20,000,000 up each year by parking and concessions alone!!!!!
That’s a lot of hot dogs for the 6,000 people who go to their games after they apparently pay about $500 each to park.
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| 05-20-2023 07:24 AM |
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Nice Updates Today in Commercial Appeal
