Important OCS Update

[michibull]

I have not been this excited about USF Football since we beat FSU in 2009, haha. 

[smazza]

11 hours ago, Outlaw said:

This is good  news but means nothing if we are not winning and going bowling consistently before the OCs is built.  It is a lot of debt to take on if we are still the floormat of the AAC and FBS football. Lets go Golesh turn this around!

this is great news

who cares about someone elses debt?

it is the debt of the state

[Jim Johnson]

8 hours ago, Bull Matrix said:

I do believe this may be happening. Besides more people would rather donate to the OCS than an IPF. So it is looking like the OCS becomes a reality by 2026 or 2027 season 

Assuming the timelines in the agenda document shared in this thread are accurate, the stadium will be open for the 2026 season.

1. Move the campus recreation fields and maintenance/storage facilities (2023-2024)
2. Do all of the site prep, environmental studies (2023-2024)
3. Groundbreaking in June 2024
4. Construction 2024-2026
5. Opening day in Summer 2026
6. First game in last summer (August/September) 2026

[MaltLiquorBull]

Would these bonds be available to the public, or only on the secondary market?  I don’t know jack about bonds…must have skipped too many classes…or maybe since I only had a net worth of about negative 20 grand at the time, I simply didn’t care.

[CousinRicky]

Found a calculator online. $200 million @ 6% over 30 years is $1.2 million per month assuming it is monthly payments. That's a lot of hot dogs and beers. 

[GoBulls84]

11 hours ago, CousinRicky said:

So just doing quick math, $340 mil cost and borrowing $200 mil so we need to raise $140 million in donations?  When does that money have to be in the bank account?  We know how long it took to raise $20 mil for the IPF.

Zero chance they're asking to finance $200M without having at least a sizeable chunk of the other $140M already in place.

[bulloni]

Quote

A site location was recommended and selected over a year ago; then a world-class design and build firm was selected (Barton Malow and Populous) last September. Since then, over the past couple months, we have been working hard on the overall contract which is about 95% complete (should be complete before the BOT meeting). The business term sheet is locked in and will be discussed today. This allows us to move into the next phase, which is the design phase. This initial design phase will result in the preparation and completion of the plans for the stadium and will include multiple opportunities for the USF community to provide input on the design of the stadium. This will provide a blueprint for the stadium and the costs associated with it; it will also allow us to have a detailed construction timeline. Today we are asking to move into the design phase which is asking to spend up to $22M in the design phase to achieve these results.

sounds like we're still months away from any images of what this thing will look like

[flsportsfan83]

Oh. My. God. ITS HAPPENING

[CousinRicky]

20 minutes ago, GoBulls84 said:

Zero chance they're asking to finance $200M without having at least a sizeable chunk of the other $140M already in place.

All I'm saying is that if the Foundation isn't the source of the funds I'm curious to know what is. As I mentioned, they've let us know when we got big chunks donated early on. 

[Mike Stuben]

9 minutes ago, CousinRicky said:

All I'm saying is that if the Foundation isn't the source of the funds I'm curious to know what is. As I mentioned, they've let us know when we got big chunks donated early on. 

I could be wrong, but I don't think the stadium is $340 million of expenses in day 1, but instead, $340 million of expenses paid out throughout the construction process. They may have 3+ years to fundraise, ask for student fees, rent luxury boxes, sell seat licenses, whatever (not saying we are doing all of those things, just things that popped into my head). 

(and of course, you still fundraise after that first $140 million, because more fundraising can be to pay off the bonds).