Is the current total entirely for the basketball facility or for lax/soccer and the hale center also?
B1G Build $
- Thread starter Jim_from_RU
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The $100M or so figure, for Phase 1, is for all 3 projects, HOWEVER, the facility on Livingston has priority and gets paid for first UNLESS or UNTIL someone steps up with the cash to pay for either the 2nd or 3rd projects on their own.
Hobbs said 90% of the money was earmarked for the basketball facility so far. When you donate, you choose the project.
I understood it to mean $50 million of the $55 million raised so far is for the practice facility and future donations will be earmarked for other projects starting with the soccer/lacrosse center. Is that correct?
I believe so. My understanding is the practice facility is a done deal. However I assume they will allow others to donate against it if they want.
these projects just simply shouldn't cost this much. Im in commercial construction and real estate development.. this stuff is so overpriced its crazy. Everybody gets a piece and thats why the cost to do minor things is so high.
Rutgers should start a construction company and do their own projects. Would save millions if possible (I know its not)
Rutgers should start a construction company and do their own projects. Would save millions if possible (I know its not)
Yet I can almost guarantee these projects will either go overbudget or concessions will need to be made to meet the budget. Just curious, how much do you think the multiuse practice facility should cost?
Remember it's not just the practice facility. It's also the parking garage under it. Of course it's pretty expensive to build anything around here as I'm finding out all too well personally but there's more to this project than some may be considering.
Wrong.
Pat Hobbs specifically mentioned the Girrutti's (sp?) gift to fund the weight room as one of 10 gifts over $1M so far, in his Presser the other day.
Not arguing with you but I don't see a word about the Girrutti gift in the press release and thought that was a gift ear-marked specifically for the weight room, and weight room only, unless that's considered part of the 3rd project of Phase 1:
Project 1 - practice facility on Livingston
Project 2 - soccer, tennis, lax training facility
Project 3 - enhanced football training complex at The Hale Center
http://www.scarletknights.com/genrel/051016aaa.html
Can't remember where I read it, but Coach Ash said we don't even have enough tubs when the guys are done practicing.
Parking lot or garage? Does this consider whether or not they are excavating a below ground level?
What ???????
That is outrageous.
That cost will never be recovered....not matter how much you charge per spot.
I'm confused. The only option I saw on the form was for "Big Ten Build Fund". Since I donated directly to the Foundation (I prefer annual gifts to monthly gifts), that's what I specified. It sounded good enough to me; I don't see the need to break it down further.
Unless you are making a sizable donation they are not going to let someone specify beyond the overall build fund.
I leave for Brazil tomorrow to visit family.
If I have any leftover disposable cash left when I get back I will make another donation.
If I have any leftover disposable cash left when I get back I will make another donation.
That's less than $5MM for a 350 spot deck.
It would be an income generator within 5 years just from athletics
Say what? I don't believe that's correct. If I want to donate $2K to Field Hockey, and FH only, they can't tell me "no."
Yes because Field Hockey has it's own fund but that has nothing to do with the B1G Build Fund.
@Jim_from_RU asked if the funds were "entirely for the basketball facility or for lax/soccer and the hale center also?" @dmd78 responded and I followed up his comment with mine.
My point is that when you make a gift the build fund unless you are making a very large contribution (e.g. naming gift) it will be earmarked for the overall build fund. It doesn't mean you can't say you're giving it in support of a particular program (e.g. lacrosse) but that program isn't going to control the money and it's not going to be put in separate sub-account of the build fund. It's going to reside in the B1G Build Fund in support of the total campaign.
Ahhhh gotcha now...but are you 100% sure only large gifts can be "ear-marked" within the fun? I hadn't seen that anywhere. Thanks for the info!
You can definitely say you are giving the gift for XYZ program and they will certainly market to specific audiences to do so but I would highly doubt they would say/guarantee your money will be used specifically for that portion of the program.
Reason being is some program's donors may pay for their facilities and some may not. Undoubtedly basketball will generate more money than most of the other programs so a $1,000 for basketball may in fact be spent on gymnastics. It's just the nature of fundraising and why they have set up a single fund to help many sports.
?????
That's actually over $5.2mm to construct .
And I have never seen a 350 spot parking deck (tiny) That's basically one floor of Parking ( 10 rows at 35 spaces each).
A four or five story structure would be more likely.
Not sure how it pays for itself in 5 years. Works out to people paying $2800 per season to park for 7 home games??
Yes, that's how I looked at it. I split my donation, designating part of it to my fave individual sports (i.e. I'm a softball letterwinner, so I support them), and some to the umbrella build fund.
The Gateway deck is 650 spaces. The New Street & Church Street decks are about 300 spaces.
7 football games @ $20/each
18 men's basketball games @ $15?/each (what's green lot cost?)
18 women's basketball games @ $10?/each? (what's green lot cost?)
6 wrestling matches @ $15?/each
1 Student commuter parking permit @ $320 or even $1/hour meters
That's $1000 revenue per spot. Okay, so the payback is 10-15 years, but still not bad considering the lifespan of a deck & muni financing available.
What ????
Are you talking about a Garage at the Football Stadium or the RAC ?
Your revenues are based on two distinct structures ....payout is probably like 25 -30'years. A losing proposition .
No way a Garage is needed at the RAC for football parking. A 500-600 deck at already huge surface lot at the RAC that already is not at capacity for Football games.
Uh....
http://www.nj.com/rutgersbasketball...signs_bill_to_provide_25m_in_tax_credits.html
The plan calls for a multi-use facility to satisfy the men's and women's basketball programs, as well as the majority of the other 24 Scarlet Knights teams. It would be built atop and around a parking deck adjacent to the 38-year old Rutgers Athletic Center.
http://www.nj.com/rutgersbasketball...signs_bill_to_provide_25m_in_tax_credits.html
The plan calls for a multi-use facility to satisfy the men's and women's basketball programs, as well as the majority of the other 24 Scarlet Knights teams. It would be built atop and around a parking deck adjacent to the 38-year old Rutgers Athletic Center.
Not true. I was able to split my donation evenly for all three projects. Mine was not a major donation
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