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Backers of new UAB football stadium hope to get project back on track
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WesternBlazer Offline
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Exclamation Backers of new UAB football stadium hope to get project back on track
10-06-2017 06:16 PM
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mixduptransistor Offline
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Post: #2
RE: Backers of new UAB football stadium hope to get project back on track
If this thing falls apart because someone can't come up with $3 million a year then just shut the whole place down
10-06-2017 06:20 PM
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WesternBlazer Offline
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RE: Backers of new UAB football stadium hope to get project back on track
(10-06-2017 06:20 PM)mixduptransistor Wrote:  If this thing falls apart because someone can't come up with $3 million a year then just shut the whole place down

+infinity
10-06-2017 06:21 PM
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hooverblazer Online
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RE: Backers of new UAB football stadium hope to get project back on track
$3M/yr is all we're lacking??? That shouldn't be some huge problem.

I'm assuming this will be on a 30 year bond. So the city can get a $175M new stadium done with only a $90M investment spread over 30 years? That should be a no brainer. That only leaves the city picking up 51% of the cost.
(This post was last modified: 10-06-2017 07:51 PM by hooverblazer.)
10-06-2017 07:47 PM
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mixduptransistor Offline
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RE: Backers of new UAB football stadium hope to get project back on track
(10-06-2017 07:47 PM)hooverblazer Wrote:  $3M/yr is all we're lacking??? That shouldn't be some huge problem.

I'm assuming this will be on a 30 year bond. So the city can get a $175M new stadium done with only a $90M investment spread over 30 years? That should be a no brainer. That only leaves the city picking up 51% of the cost.

The city's contribution is $3m. That's on top of what the BJCC and Jefferson County would be putting in towards the bonds
10-06-2017 08:29 PM
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hooverblazer Online
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RE: Backers of new UAB football stadium hope to get project back on track
(10-06-2017 08:29 PM)mixduptransistor Wrote:  
(10-06-2017 07:47 PM)hooverblazer Wrote:  $3M/yr is all we're lacking??? That shouldn't be some huge problem.

I'm assuming this will be on a 30 year bond. So the city can get a $175M new stadium done with only a $90M investment spread over 30 years? That should be a no brainer. That only leaves the city picking up 51% of the cost.

The city's contribution is $3m. That's on top of what the BJCC and Jefferson County would be putting in towards the bonds

Exactly. My point was if the BJCC and Jeffco are putting in enough to make the city's investment only $3m/yr it should get done no question.
10-06-2017 09:33 PM
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rook360 Offline
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Post: #7
RE: Backers of new UAB football stadium hope to get project back on track
$3mil is still $3,000,000.00 it'll be awesome if they can budget.
10-07-2017 06:48 AM
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WesternBlazer Offline
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RE: Backers of new UAB football stadium hope to get project back on track
0.7% of Birmingham budget...
10-07-2017 07:59 AM
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ATTALLABLAZE Offline
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Post: #9
RE: Backers of new UAB football stadium hope to get project back on track
It's more than that.

Stadium - 174 mil
Renovation - 123 mil

That's old numbers too. The project price tag will be over 300m. Waiting keeps costing more money. Woodfin also wants UAB to pay for a portion of this project and that's not happeneing. Let's see what happens. Initial conversions with RW and the foundation were positive I heard but we still have a field to plow.

Birmingham is actually getting a bigger bang for its buck with only a 3 mil a year investment.
(This post was last modified: 10-07-2017 08:42 AM by ATTALLABLAZE.)
10-07-2017 08:39 AM
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rook360 Offline
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RE: Backers of new UAB football stadium hope to get project back on track
(10-07-2017 08:39 AM)ATTALLABLAZE Wrote:  It's more than that.

Stadium - 174 mil
Renovation - 123 mil

That's old numbers too. The project price tag will be over 300m. Waiting keeps costing more money. Woodfin also wants UAB to pay for a portion of this project and that's not happeneing. Let's see what happens. Initial conversions with RW and the foundation were positive I heard but we still have a field to plow.

Birmingham is actually getting a bigger bang for its buck with only a 3 mil a year investment.

Attalla, in your opinion if UAB contributes to building it would that mean UAB would have some say in it as far as scheduling and revenue from events at the stadium?
10-07-2017 09:07 AM
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mixduptransistor Offline
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RE: Backers of new UAB football stadium hope to get project back on track
(10-07-2017 09:07 AM)rook360 Wrote:  
(10-07-2017 08:39 AM)ATTALLABLAZE Wrote:  It's more than that.

Stadium - 174 mil
Renovation - 123 mil

That's old numbers too. The project price tag will be over 300m. Waiting keeps costing more money. Woodfin also wants UAB to pay for a portion of this project and that's not happeneing. Let's see what happens. Initial conversions with RW and the foundation were positive I heard but we still have a field to plow.

Birmingham is actually getting a bigger bang for its buck with only a 3 mil a year investment.

Attalla, in your opinion if UAB contributes to building it would that mean UAB would have some say in it as far as scheduling and revenue from events at the stadium?

That would totally depend on any agreement between UAB and the BJCC Authority. UAB was involved in Regions Field but they don't have operational control, they have a seat on the board that was created to oversee it. It would kind of be a mess for UAB and the BJCC to both have operational control. If UAB were to contribute, they should retain an ownership interest, have a perpetual lease option, and gain at least one seat on the BJCC Authority board

None of that matters, because UAB will not be putting a penny towards building such a facility beyond signing a primary tenant lease
10-07-2017 11:31 AM
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BirminghamJoseph2770 Offline
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Post: #12
RE: Backers of new UAB football stadium hope to get project back on track
Think the foundation could do it again they did it once.
10-07-2017 11:39 AM
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rook360 Offline
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RE: Backers of new UAB football stadium hope to get project back on track
(10-07-2017 11:31 AM)mixduptransistor Wrote:  
(10-07-2017 09:07 AM)rook360 Wrote:  
(10-07-2017 08:39 AM)ATTALLABLAZE Wrote:  It's more than that.

Stadium - 174 mil
Renovation - 123 mil

That's old numbers too. The project price tag will be over 300m. Waiting keeps costing more money. Woodfin also wants UAB to pay for a portion of this project and that's not happeneing. Let's see what happens. Initial conversions with RW and the foundation were positive I heard but we still have a field to plow.

Birmingham is actually getting a bigger bang for its buck with only a 3 mil a year investment.

Attalla, in your opinion if UAB contributes to building it would that mean UAB would have some say in it as far as scheduling and revenue from events at the stadium?

That would totally depend on any agreement between UAB and the BJCC Authority. UAB was involved in Regions Field but they don't have operational control, they have a seat on the board that was created to oversee it. It would kind of be a mess for UAB and the BJCC to both have operational control. If UAB were to contribute, they should retain an ownership interest, have a perpetual lease option, and gain at least one seat on the BJCC Authority board

None of that matters, because UAB will not be putting a penny towards building such a facility beyond signing a primary tenant lease

That wa more of what I was getting at. Why invest (which I know they won't) and not have a say so. But Im waiting for the "fans need to contribute...again" spill. I'm ready for it $$.
10-07-2017 11:47 AM
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cb4029 Offline
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RE: Backers of new UAB football stadium hope to get project back on track
If they help build a stadium for us, do they still buy season tickets as well?
10-07-2017 12:08 PM
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bladhmadh Offline
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RE: Backers of new UAB football stadium hope to get project back on track
(10-07-2017 11:39 AM)BirminghamJoseph2770 Wrote:  Think the foundation could do it again they did it once.

three million a year for the next twenty to thirty years. thats not reasonable to expect them to raise
10-07-2017 12:41 PM
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WesternBlazer Offline
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RE: Backers of new UAB football stadium hope to get project back on track
Wouldn't make sense to have UAB contribute when they will only use it 6 times a year...
10-07-2017 12:52 PM
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GreenMississippi Offline
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Post: #17
RE: Backers of new UAB football stadium hope to get project back on track
(10-07-2017 12:52 PM)WesternBlazer Wrote:  Wouldn't make sense to have UAB contribute when they will only use it 6 times a year...

1. We're kinda the ones clamoring for it the most.

2. I hope we can add another home game + host bowl game + another UAB event.

I still posit that UAB could appeal to Woodfin's base without spending many actual dimes, but provide something with a dollar value, by providing special scholarships reserved for Birmingham residents for degrees in venue management. Construction management for locals working on the project who could get their degrees after the project is finished would also be a nice add. The BJCC can hold X number of jobs for those management graduates. It's higher wage jobs for Woodfin voters, which is what he campaigned on. UAB can put a market value on it the education, but it only costs UAB the wholesale price. Win-win for everyone.
10-07-2017 01:24 PM
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mixduptransistor Offline
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RE: Backers of new UAB football stadium hope to get project back on track
(10-07-2017 12:52 PM)WesternBlazer Wrote:  Wouldn't make sense to have UAB contribute when they will only use it 6 times a year...

Vs. UAB paying 100% for their own stadium? It'll get used more than 6 times a year, and something I didn't mention above that came to mind would be a proportional share of revenue year round. Also, it goes without saying that the lease should be free
10-07-2017 03:01 PM
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ucwboss Offline
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Post: #19
RE: Backers of new UAB football stadium hope to get project back on track
Wasn't Papa John stadium built as a partnership between UofL and the Louisville Metro government?
10-07-2017 05:04 PM
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Matrix Offline
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RE: Backers of new UAB football stadium hope to get project back on track
"Back On Track?" When and why did it get off track in the first place? I was under the impression that this was a done deal. But, we've heard this before (OCS)...
10-08-2017 04:28 PM
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