Expect a formal announcement on the stadium this week

[Jim Johnson]

4 hours ago, USFBULL_08 said:

Does anyone know the actual law that USF is referencing where it needs to be fully paid by private funds?

It technically doesn't have to be fully paid by private funds.  Construction bonds (think "mortgage") can be financed by a number of sources.  For example, the Lee Roy Selmon Athletic Center is being paid for (in part) by the vending contract with Coca-Cola.  Buy a coke at a vending machine on campus, and part of that goes to pay the debt for the Athletic Center.  Those funds might be considered "public" per see, but it all really depends on which corporate entity has the contract on USF's side.  "Direct Support Organizations" are technically not "public" but they are part of the "public" university.

There are a number of public sources that can finance athletic facilities:

1. CITF (Capital Improvement Trust Fund) is part of the fees paid by students.  Every few years those funds get allocated through a process that requires student input and then approval up through the Board of Directors and eventually the State Legislature.  These might also be considered "public" funds.  CITF funds paid for (part of) the construction of the Sun Dome, paid for part of the new roof, and paid for the recreation center, etc.  Florida State used some CITF funds for the Doak Campbell renovation.
2. PECO (Public Education Capital Outlay) funds are true "public" funds. They are paid as part of fees on Florida's electric bills, and allocated by the Florida Legislature for construction of educational facilities from pre-K through colleges and universities.  In the early 2000s the legislature borrowed against future PECO funds to do some major consturction projects.  More recently, the USF College of Medicine downtown recieved some PECO funds.  FSU actually used some PECO money for Doak Campbell because within the facade of the stadium are a number of classrooms and other facilities used for classroom instruction.
3. E & G (Education & General) - The E&G funds are used for the operation of schools.  This money CANNOT be used for construction, and this is what people REALLY mean when they say "public" money.  It's also what @BullyPulpit may have meant when he suggested the university page "general funds" into the project. (Maybe not, just guessing).
4. Bed Taxes - This is also what a lot of people think of when they talk about "public" money.  In Florida, some counties have bed taxes (additional sales taxes on hotel stays) that fund tourism-related facilities: Raymond James Stadium, Tropicana Field, the Tampa Convention Center.
5. Special Sales Taxes - Another option for building stadiums is allowing the stadium builder to keep $2 million of the sales taxes collected (mostly through concessions and tickets) every year for thirty years.  Raymond James, Tropicana Field, Amelie Arena, all took advantage of this.  Unfortunately, this does not apply to state universities (although I am sure UF, FSU, and UCF wouldn't mind changing it) -- in part because sales taxes on tickets to events are kept by the universities to fund women's sports.

So what other sources of revenue could be used to pay the debt service

• Advertising - Selling the naming rights and other advertising within the stadium can be one source of revenue that can be committed to debt service.
• Ticket surcharges - The sale of athletic event tickets funds the operations of the athletic department, and the sales taxes for atheltic events would fund women's sports.  But USF could add ticket surcharges (TSA does!) to cover part of the debt.
• Concessions - Profits from concessions and parking.  With an OCS the concession management would be outsourced (Aramark has the contract for the main campus, not sure about athletic statdiums).  So for every $10 hotdog, part covers the costs, part covers the labor, part is profit for the vendor (Aramark), and part would be profit for USF.   Parking has a higher labor cost (parking attendants) and some parts of campus would be free, but the closer spots would be sold through season passes and that has a known, predictable revenue that could be used for debt service.

Obviously the less USF has to borrow, the less it has to worry about paying on the debt.  So the more they can fundraise ahead of time, the better... including big donations but also things like bricks or individual naming rights...

**NOTE THE ABOVE LIST IS NOT EXHAUSTIVE, JUST MEANT TO PROVIDE SOME MORE OBVIOUS EXAMPLES

[USFBULL_08]

1 hour ago, Jim Johnson said:

It technically doesn't have to be fully paid by private funds.  Construction bonds (think "mortgage") can be financed by a number of sources.  For example, the Lee Roy Selmon Athletic Center is being paid for (in part) by the vending contract with Coca-Cola.  Buy a coke at a vending machine on campus, and part of that goes to pay the debt for the Athletic Center.  Those funds might be considered "public" per see, but it all really depends on which corporate entity has the contract on USF's side.  "Direct Support Organizations" are technically not "public" but they are part of the "public" university.

There are a number of public sources that can finance athletic facilities:

1. CITF (Capital Improvement Trust Fund) is part of the fees paid by students.  Every few years those funds get allocated through a process that requires student input and then approval up through the Board of Directors and eventually the State Legislature.  These might also be considered "public" funds.  CITF funds paid for (part of) the construction of the Sun Dome, paid for part of the new roof, and paid for the recreation center, etc.  Florida State used some CITF funds for the Doak Campbell renovation.
2. PECO (Public Education Capital Outlay) funds are true "public" funds. They are paid as part of fees on Florida's electric bills, and allocated by the Florida Legislature for construction of educational facilities from pre-K through colleges and universities.  In the early 2000s the legislature borrowed against future PECO funds to do some major consturction projects.  More recently, the USF College of Medicine downtown recieved some PECO funds.  FSU actually used some PECO money for Doak Campbell because within the facade of the stadium are a number of classrooms and other facilities used for classroom instruction.
3. E & G (Education & General) - The E&G funds are used for the operation of schools.  This money CANNOT be used for construction, and this is what people REALLY mean when they say "public" money.  It's also what @BullyPulpit may have meant when he suggested the university page "general funds" into the project. (Maybe not, just guessing).
4. Bed Taxes - This is also what a lot of people think of when they talk about "public" money.  In Florida, some counties have bed taxes (additional sales taxes on hotel stays) that fund tourism-related facilities: Raymond James Stadium, Tropicana Field, the Tampa Convention Center.
5. Special Sales Taxes - Another option for building stadiums is allowing the stadium builder to keep $2 million of the sales taxes collected (mostly through concessions and tickets) every year for thirty years.  Raymond James, Tropicana Field, Amelie Arena, all took advantage of this.  Unfortunately, this does not apply to state universities (although I am sure UF, FSU, and UCF wouldn't mind changing it) -- in part because sales taxes on tickets to events are kept by the universities to fund women's sports.

So what other sources of revenue could be used to pay the debt service

• Advertising - Selling the naming rights and other advertising within the stadium can be one source of revenue that can be committed to debt service.
• Ticket surcharges - The sale of athletic event tickets funds the operations of the athletic department, and the sales taxes for atheltic events would fund women's sports.  But USF could add ticket surcharges (TSA does!) to cover part of the debt.
• Concessions - Profits from concessions and parking.  With an OCS the concession management would be outsourced (Aramark has the contract for the main campus, not sure about athletic statdiums).  So for every $10 hotdog, part covers the costs, part covers the labor, part is profit for the vendor (Aramark), and part would be profit for USF.   Parking has a higher labor cost (parking attendants) and some parts of campus would be free, but the closer spots would be sold through season passes and that has a known, predictable revenue that could be used for debt service.

Obviously the less USF has to borrow, the less it has to worry about paying on the debt.  So the more they can fundraise ahead of time, the better... including big donations but also things like bricks or individual naming rights...

**NOTE THE ABOVE LIST IS NOT EXHAUSTIVE, JUST MEANT TO PROVIDE SOME MORE OBVIOUS EXAMPLES

Thanks Jimbo!

[cophbulls]

I call bs on this....but ill be the first to react as if i knew it along when an OCS is announced, and for the record, Publix Stadium would be the S  H  I  T 

[JTrue]

2 hours ago, Jim Johnson said:

It technically doesn't have to be fully paid by private funds.  Construction bonds (think "mortgage") can be financed by a number of sources.  For example, the Lee Roy Selmon Athletic Center is being paid for (in part) by the vending contract with Coca-Cola.  Buy a coke at a vending machine on campus, and part of that goes to pay the debt for the Athletic Center.  Those funds might be considered "public" per see, but it all really depends on which corporate entity has the contract on USF's side.  "Direct Support Organizations" are technically not "public" but they are part of the "public" university.

There are a number of public sources that can finance athletic facilities:

1. CITF (Capital Improvement Trust Fund) is part of the fees paid by students.  Every few years those funds get allocated through a process that requires student input and then approval up through the Board of Directors and eventually the State Legislature.  These might also be considered "public" funds.  CITF funds paid for (part of) the construction of the Sun Dome, paid for part of the new roof, and paid for the recreation center, etc.  Florida State used some CITF funds for the Doak Campbell renovation.
2. PECO (Public Education Capital Outlay) funds are true "public" funds. They are paid as part of fees on Florida's electric bills, and allocated by the Florida Legislature for construction of educational facilities from pre-K through colleges and universities.  In the early 2000s the legislature borrowed against future PECO funds to do some major consturction projects.  More recently, the USF College of Medicine downtown recieved some PECO funds.  FSU actually used some PECO money for Doak Campbell because within the facade of the stadium are a number of classrooms and other facilities used for classroom instruction.
3. E & G (Education & General) - The E&G funds are used for the operation of schools.  This money CANNOT be used for construction, and this is what people REALLY mean when they say "public" money.  It's also what @BullyPulpit may have meant when he suggested the university page "general funds" into the project. (Maybe not, just guessing).
4. Bed Taxes - This is also what a lot of people think of when they talk about "public" money.  In Florida, some counties have bed taxes (additional sales taxes on hotel stays) that fund tourism-related facilities: Raymond James Stadium, Tropicana Field, the Tampa Convention Center.
5. Special Sales Taxes - Another option for building stadiums is allowing the stadium builder to keep $2 million of the sales taxes collected (mostly through concessions and tickets) every year for thirty years.  Raymond James, Tropicana Field, Amelie Arena, all took advantage of this.  Unfortunately, this does not apply to state universities (although I am sure UF, FSU, and UCF wouldn't mind changing it) -- in part because sales taxes on tickets to events are kept by the universities to fund women's sports.

So what other sources of revenue could be used to pay the debt service

• Advertising - Selling the naming rights and other advertising within the stadium can be one source of revenue that can be committed to debt service.
• Ticket surcharges - The sale of athletic event tickets funds the operations of the athletic department, and the sales taxes for atheltic events would fund women's sports.  But USF could add ticket surcharges (TSA does!) to cover part of the debt.
• Concessions - Profits from concessions and parking.  With an OCS the concession management would be outsourced (Aramark has the contract for the main campus, not sure about athletic statdiums).  So for every $10 hotdog, part covers the costs, part covers the labor, part is profit for the vendor (Aramark), and part would be profit for USF.   Parking has a higher labor cost (parking attendants) and some parts of campus would be free, but the closer spots would be sold through season passes and that has a known, predictable revenue that could be used for debt service.

Obviously the less USF has to borrow, the less it has to worry about paying on the debt.  So the more they can fundraise ahead of time, the better... including big donations but also things like bricks or individual naming rights...

**NOTE THE ABOVE LIST IS NOT EXHAUSTIVE, JUST MEANT TO PROVIDE SOME MORE OBVIOUS EXAMPLES

So this is happening this week? For real? 

[Roaming Bull]

[The Sheriff]

18 hours ago, smazza said:

how in the world are we going to pay for it?

The Biden stimulus package.

[zarnozdabull]

20 hours ago, smazza said:

how in the world are we going to pay for it?

Smazza Law Firm stadium on the USF campus has a nice ring to it. 

[E.T.]

3 hours ago, The Sheriff said:

The Biden stimulus package.

Tell me when we're shovel ready  

[TheAccountant]

21 hours ago, hm101 said:

We're gonna build a stadium and make UCF pay for it

Hopefully whoever becomes our next President doesn't stop construction halfway through! 

[smazza]

2 hours ago, zarnozdabull said:

Smazza Law Firm stadium on the USF campus has a nice ring to it. 

morgan and morgan own florida

those sobs are trying o get some of the california market