State Budget Committee OKs funding for Hulman Center project

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Hulman Convention Center

This could be worse than we think. Dan Bradley's patience could be running thin with the convention board dragging their feet, and the state of Indiana cutting our funding.
He could be contemplating retirement in another two years and then we're really screwed!! He's the best president ISU athletics has ever known!
If he goes, we have got to find another president who is gung-ho on sports, or you can kiss a new football stadium good bye too!
Added: And we won't be getting a new football stadium while Bradley is president. He'll be getting out of Dodge and let the "new guy" handle that situation.
 
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WOZ said:
This could be worse than we think. Dan Bradley's patience could be running thin with the convention board dragging their feet, and the state of Indiana cutting our funding.
He could be contemplating retirement in another two years and then we're really screwed!! He's the best president ISU athletics has ever known!
If he goes, we have got to find another president who is gung-ho on sports, or you can kiss a new football stadium good bye too!
Added: And we won't be getting a new football stadium while Bradley is president. He'll be getting out of Dodge and let the "new guy" handle that situation.
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I agree urgency is there and that Bradley is a great president for the UNIVERSITY..athletics???not so much. The city and county has went on record saying they will pledge 25 mil and the university has low balled them from their initial talks when this plan was hatched..isu is trying to rent the space (hc for games and practices ) for basically half of what they originally talked about each season and at the beginning they said to city leaders if you get down to 10 million the foundation will take care of the rest..guess what??37.5 +25=62.5 mil...so we are 12.5 off and isu is halting the 75 mil project over 2 mil..how bad do they really want it??
 
I don't mean to come off anti isu..the city needs to be flexible too..However, the university has much more to lose by letting this opportunity go by the wayside and has more to gain..This thing could be the cornerstone for isu athletics for the next 40 years! So in my mind they should have to bend a bit here to make it happen. In an ideal world you'd hope our city and university leaders realize we play for the same team and this thing getting done is a win for ALL
 
Southgrad07 said:
I don't mean to come off anti isu..the city needs to be flexible too..However, the university has much more to lose by letting this opportunity go by the wayside and has more to gain..This thing could be the cornerstone for isu athletics for the next 40 years! So in my mind they should have to bend a bit here to make it happen. In an ideal world you'd hope our city and university leaders realize we play for the same team and this thing getting done is a win for ALL
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Agree on all points but if the money isn't there.... Is the Hautian economy booming? Isn't ISU losing funding from the state capitol? Which wealthy Alums are calling and offering to fund the difference?
 
4Q_iu said:
Agree on all points but if the money isn't there.... Is the Hautian economy booming? Isn't ISU losing funding from the state capitol? Which wealthy Alums are calling and offering to fund the difference?
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All the more reason to act now...Universities around the country are seeing state funds slashed left and right...why wouldn't you seize upon a chance to get 37.5 mil in funding?? We have had enough money to redue almost every building on campus and add new student housing (all badly needed btw).. I just can't get my head around this project stalling over a few mil when the foundation/university has done nothing in an attempt to publicly raise funds.
 

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Southgrad07 said:
All the more reason to act now...Universities around the country are seeing state funds slashed left and right...why wouldn't you seize upon a chance to get 37.5 mil in funding?? We have had enough money to redue almost every building on campus and add new student housing (all badly needed btw).. I just can't get my head around this project stalling over a few mil when the foundation/university has done nothing in an attempt to publicly raise funds.
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Which is exactly why they made a giant mistake when this project was first announced several years ago by not collecting every last cent they could for it from anyone excited about the project.
 
carl nicks also has a cushy job with the pacers as well. Those two could lead a hell of a fundraising campaign just by lending their names..have them make automated calls asking for donations or a video that could be sent by email to alums..the dudes live an hour away and would take 30 mins of their time to record/film..I assume we have reached out for their help in some way and they stiff armed us..but with the way ISU has handled this project I wouldn't bet my house on it.
 

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So with the food and beverage tax now in place, there lone hold up is the $12.5m funding gap from the local municipality, correct?

From a previous Star article:

The Indiana General Assembly has budgeted $37.5 million for the Hulman Center project. Vigo County, the city of Terre Haute and the Terre Haute Convention and Visitors Bureau have pledged more than $25 million for the project. The entities are working to fill a $12.5 million funding gap, with the food and beverage tax targeted as a way to pay for long-term operational costs.
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Jason Svoboda said:
So with the food and beverage tax now in place, there lone hold up is the $12.5m funding gap from the local municipality, correct?

From a previous Star article:
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Ah kinda..The city,county, and bureau is pledging 25 mil. and ISU is balking at it. Originially city officials say that ISU was confident that if the city could fund all but 10mil of the project then the foundation and ISU could raise the rest. SO basically the way I understand it.. we are about 2-3 million dollars in bickering away if the food and beverage tax goes through.
 
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Southgrad07 said:
Ah kinda..The city,county, and bureau is pledging 25 mil. and ISU is balking at it. Originially city officials say that ISU was confident that if the city could fund all but 10mil of the project then the foundation and ISU could raise the rest. SO basically the way I understand it.. we are about 2-3 million dollars in bickering away if the food and beverage tax goes through.
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My understanding is that the funding is done but the food and beverage tax is what everyone feels needs passes for annual operating costs.
 
Blue Streaker said:
My understanding is that the funding is done but the food and beverage tax is what everyone feels needs passes for annual operating costs.
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Yep. I mean there is still some negotiating to do to fill the 2-3 million gap...But if that goes through you have got to figure both sides realize they are pissing away 37.5 mil up front and 1.5 annual dollars of free money if they don't make this thing work. Neither side would be able to justify leaving that money on the table over 2-3 mil..Not to mention what it would cost to continue to try and maintain the old HC in it's current condition.
 

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Blue Streaker said:
My understanding is that the funding is done but the food and beverage tax is what everyone feels needs passes for annual operating costs.
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This is my understanding, as well. I believe someone was quoted as saying something to the effect of "without the food and beverage tax, it would be like buying a new car without being able to afford the gasoline." I'm paraphrasing, of course, but that was the gist I remember receiving.
 
BrokerZ said:
This is my understanding, as well. I believe someone was quoted as saying something to the effect of "without the food and beverage tax, it would be like buying a new car without being able to afford the gasoline." I'm paraphrasing, of course, but that was the gist I remember receiving.
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Bingo..Exactly the way it was presented to me
 
So my guess is Indiana State knew this was going to make it through and this is probably the underlying theme for the dinner being held up here in Indianapolis next week. Hope there is more to it.
 
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