Originally Posted by
Exes&Ohs
Our problem is lack of money. The student facility enhancement fee is a HUGE factor in our program in that it is used to pay off the bonds that were issued to construct the south end zone facility. The bond payoff annually is about $650,000, 20yr or so to go, which leaves around $500,000 annually of the student fee that has been used to upgrade parking, etc. Thats a pretty hefty amount but we have to keep in mind that the pressbox and suites required a loan from the foundation to the athletic dept for about $11,000,000. That amount was projected to be paid off by suite rentals, etc but that hasnt really materialized so we must refrain from spending the excess student fees holding them basically in escrow to cover the press box expansion. What a complicated web we have woven.