Is the current total entirely for the basketball facility or for lax/soccer and the hale center also?
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Hobbs said 90% of the money was earmarked for the basketball facility so far. When you donate, you choose the project.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 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.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?
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?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)
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?
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?
We know that some was earmarked for new Football Weight Room.
Wrong.Different project.
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.
For the record, it costs about $10-$15k per parking spot to build a parking garage.
For the record, it costs about $10-$15k per parking spot to build a parking garage.
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.Is the current total entirely for the basketball facility or for lax/soccer and the hale center also?
Unless you are making a sizable donation they are not going to let someone specify beyond the overall build fund.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.
That's less than $5MM for a 350 spot deck.For the record, it costs about $10-$15k per parking spot to build a parking garage.
Unless you are making a sizable donation they are not going to let someone specify beyond the overall build fund.
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?" My point is that when you make a gift the build fund that 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 say you're giving it in support of a particular program 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.
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!
That's less than $5MM for a 350 spot deck.
It would be an income generator within 5 years just from athletics
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.
?????
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??
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.
Not true. I was able to split my donation evenly for all three projects. Mine was not a major donationUnless you are making a sizable donation they are not going to let someone specify beyond the overall build fund.
The state money (tax relief) was tied into a parking garage.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.