State Budget Committee OKs funding for Hulman Center project

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ISU does have a "naming rights" program. It has been executed at best in a sporadic fashion. The College of Business was to be the Scott College of Business, not at Federal Hall. Historic designations changed the name. The Trading Floor in the COB is named after an individual who has an estate gift for the the naming rights and he's still alive. Among the reasons the College of Education became the Bayh College of Education is the fact that Evan Bayh was able to persuade the federal government to "give" the Post Office building to ISU. It was counted as a "gift in kind" towards the "March On" campaign. Many buildings on campus are named for former ISU and state wide notable figures. While a noble gesture, the opportunity to raise a substantial amount of $$ is being overlooked by not offering to modify the names of some buildings on campus.
 

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So one aspect that I overlooked and hasnt been discussed here is "if" this happens. Then ISU would be renting the facility for all activities. For those of you in the know with this kind of stuff, what exactly would that entail. Is it cost saving because ISU doesnt hire staff and upkeep? Does ISU lose out of concession sales? Does the cost to rent offset the cost of maintanence?

Id imagine the relationship between the hulman convention center and ISU would be more intimate than Creightons with the C-link center just because of ISUs history with the building, proximity, and the size of Terre Haute
 
treeman said:
So one aspect that I overlooked and hasnt been discussed here is "if" this happens. Then ISU would be renting the facility for all activities. For those of you in the know with this kind of stuff, what exactly would that entail. Is it cost saving because ISU doesnt hire staff and upkeep? Does ISU lose out of concession sales? Does the cost to rent offset the cost of maintanence?

Id imagine the relationship between the hulman convention center and ISU would be more intimate than Creightons with the C-link center just because of ISUs history with the building, proximity, and the size of Terre Haute
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I would think expense-wise, it'll be a wash for ISU. I did catch in one of the articles about it, though, that Dr. Bradley said that any lease agreement would have to give ISU basketball priority for use of the building. We sure don't want to have a situation where the teams can't get in there whenever they need to. I would hope that the new "CIB" and ISU would be able to work together on this...
 
IndyTreeFan said:
I would think expense-wise, it'll be a wash for ISU. I did catch in one of the articles about it, though, that Dr. Bradley said that any lease agreement would have to give ISU basketball priority for use of the building. We sure don't want to have a situation where the teams can't get in there whenever they need to. I would hope that the new "CIB" and ISU would be able to work together on this...
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Good points... I would think/hope that they work together on ownership. I thought I read were ISU has to fund it partially, too. I would hope that food and suite revenue would be beneficial for all parties... For instance, if a suite contract it $50k a year for 3 years for "all" events and holds 16 people, or $20k yr for 3 yrs for basketball only events.... You would think something could be worked out.... No doubt it creates some nice paying jobs for marketing, business, sales, foods, and maintenance people.
 

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shootingsycamore said:
ISU does have a "naming rights" program. It has been executed at best in a sporadic fashion. The College of Business was to be the Scott College of Business, not at Federal Hall. Historic designations changed the name. The Trading Floor in the COB is named after an individual who has an estate gift for the the naming rights and he's still alive. Among the reasons the College of Education became the Bayh College of Education is the fact that Evan Bayh was able to persuade the federal government to "give" the Post Office building to ISU. It was counted as a "gift in kind" towards the "March On" campaign. Many buildings on campus are named for former ISU and state wide notable figures. While a noble gesture, the opportunity to raise a substantial amount of $$ is being overlooked by not offering to modify the names of some buildings on campus.
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Just seeing this entry...

So you're saying the "official" name of our college of business is the 'scott college of business AT Federal Hall?'

I've NEVER found that designation... what's your source?
 
Hey let's give them a chance to get it done. I question the Gibson story. Not calling anyone a liar, but if you know the Gibson's you aren't going to talk them out of anything they really want to do. Max and Greg want anything their name is connected to done right . And I may be all wet.
 
Check out the mayor's comments in the article below. Hulman Center is going to be another in a long line of projects that will be "scaled back" or "done in phases," which of course means that it'll never get done. The pitiful financial state of the City of Terre Haute is killing this project. It's gonna end up being done in a second-rate manner. Hopefully, Greg Goode can get a deal worked out before this whole thing falls apart. Just disgusting...

http://www.tribstar.com/news/local_news/mayor-city-getting-sludge-to-diesel-pacts-right/article_556c93f2-e420-50e8-a687-31a87c515933.html?utm_source=twitterfeed&utm_medium=facebook
 

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IndyTreeFan said:
Check out the mayor's comments in the article below. Hulman Center is going to be another in a long line of projects that will be "scaled back" or "done in phases," which of course means that it'll never get done. The pitiful financial state of the City of Terre Haute is killing this project. It's gonna end up being done in a second-rate manner. Hopefully, Greg Goode can get a deal worked out before this whole thing falls apart. Just disgusting...

http://www.tribstar.com/news/local_news/mayor-city-getting-sludge-to-diesel-pacts-right/article_556c93f2-e420-50e8-a687-31a87c515933.html?utm_source=twitterfeed&utm_medium=facebook
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Honestly... Yes the cities finances suck. But this small city aint out of line with the rest of the country when compared to cities of our size. We are in the same pathetic place that most everyone in this country is in. So blame it on that all you want - noticed that some how the pathetic finances of the University some how didn't make your post?? Probably just a fair oversight.

It is a shame, but it is pretty predictable if you sit back and think about it. You wondered why they haven't done a fundraising campaign for the track? Or maybe you didn't wonder that, I did and I came to a pretty logically explanation. I think any major fundraising efforts are going to be aimed toward getting this project completed - just my guesstimate.
 
SycamoreStateofMind said:
Honestly... Yes the cities finances suck. But this small city aint out of line with the rest of the country when compared to cities of our size. We are in the same pathetic place that most everyone in this country is in. So blame it on that all you want - noticed that some how the pathetic finances of the University some how didn't make your post?? Probably just a fair oversight.

It is a shame, but it is pretty predictable if you sit back and think about it. You wondered why they haven't done a fundraising campaign for the track? Or maybe you didn't wonder that, I did and I came to a pretty logically explanation. I think any major fundraising efforts are going to be aimed toward getting this project completed - just my guesstimate.
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I think you're spot on with the assessment I bolded. Everything is aimed, for now, at getting Hulman Center done.

As for the city finances, I have it on good authority from a friend involved with the General Assemble that Terre Haute's precarious financial position is the reason the senate cut $12.5M from the project. ISU is working very, very hard to come up with creative financing for Terre Haute's part of the project, in an effort to get the $50M restored.

And ISU's finances aren't holding the University back much, at least in the eyes of the legislature. After all, approval for the $64M Health/Nursing building is coming in this budget, which is a nod towards the progress ISU is making. It's getting noticed here in Indy. And that's a good thing.

Just wanted to add that I also realize that the state created most of the financial problems cities are facing right now. Not all of the problems TH faces are of their own making. It just sucks that it has the potential to derail what should be a really fantastic project.
 
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IndyTreeFan said:
I think you're spot on with the assessment I bolded. Everything is aimed, for now, at getting Hulman Center done.

As for the city finances, I have it on good authority from a friend involved with the General Assemble that Terre Haute's percarious financial position is the reason the senate cut $12.5M from the project. ISU is working very, very hard to come up with creative financing for Terre Haute's part of the project, in an effort to get the $50M restored.

And ISU's finances aren't holding the University back much, at least in the eyes of the legislature. After all, approval for the $64M Health/Nursing building is coming in this budget, which is a nod towards the progress ISU is making. It's getting noticed here in Indy. And that's a good thing.

Just wanted to add that I also realize that the state created most of the financial problems cities are facing right now. Not all of the problems TH faces are of their own making. It just sucks that it has the potential to derail what should be a really fantastic project.
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Well stated. I just wanted to be clear that I don't think the problems we face in Terre Haute are any more or less dire than what other cities of our size and makeup are faced with. For every step forward, we take two steps back. I think (as people who are either from Terre Haute or have a vested interest) tend to over exaggerate our negative state of affairs. The old adage we use during hoops season, things are never quite as bad as they seem and they are never quite as good as they seem.
 
SycamoreStateofMind said:
Well stated. I just wanted to be clear that I don't think the problems we face in Terre Haute are any more or less dire than what other cities of our size and makeup are faced with. For every step forward, we take two steps back. I think (as people who are either from Terre Haute or have a vested interest) tend to over exaggerate our negative state of affairs. The old adage we use during hoops season, things are never quite as bad as they seem and they are never quite as good as they seem.
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Tru dat...
 
ITF, I'm not implying in my question that you are wrong. I would just like to be educated in the reasons for your statement. What exactly has the state of Indiana done to create city financial problems? Thanks and have a great evening. Also , will you be coming to town for the football scrimmage Friday?
 

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sycamore tuff said:
ITF, I'm not implying in my question that you are wrong. I would just like to be educated in the reasons for your statement. What exactly has the state of Indiana done to create city financial problems? Thanks and have a great evening. Also , will you be coming to town for the football scrimmage Friday?
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Hey Tuff, I won't be able to make the scrimmage as I can't get away that early. Wish I could. I'm hoping my son can make it and give me a report!

My statement had to do with the state greatly reducing the property tax revenue to cities (and all kinds of other governmental entities) without giving them any way to make up that revenue. I think Terre Haute gets hit particularly hard because when TH tries to do things other localities do, for instance a local sales tax, to make up the difference, the state generally says, "No, Terre Haute, you can't do that. Marion County can, but that's because all us legislators want access to suites at Lucas Oil Stadium..." That's all I'm saying. Cutting taxes is a good thing, but when they passed the property tax bill, the only thing that lawmakers said was "Your taxes are going to go down. Isn't that great?" They failed to mention that those taxes pay for all kinds of services that people expect. Having only half the debate is part of what's wrong with politicians. Hell, I could win an election by going around asking if everyone wanted their taxes to go down. And I'm pretty ugly. It's the rest of the issue where the devil is found and it's that devil that is biting Terre Haute, and just about every other city in the state.

I actually applaud Mayor Bennett for thinking outside the box in forming public/private partnerships such as the sludge to diesel plant. I just hope the people he's dealing with are on the up-and-up and the city doesn't take it in the backside...

That's all I was saying...
 
IndyTreeFan said:
Hey Tuff, I won't be able to make the scrimmage as I can't get away that early. Wish I could. I'm hoping my son can make it and give me a report!

My statement had to do with the state greatly reducing the property tax revenue to cities (and all kinds of other governmental entities) without giving them any way to make up that revenue. I think Terre Haute gets hit particularly hard because when TH tries to do things other localities do, for instance a local sales tax, to make up the difference, the state generally says, "No, Terre Haute, you can't do that. Marion County can, but that's because all us legislators want access to suites at Lucas Oil Stadium..." That's all I'm saying. Cutting taxes is a good thing, but when they passed the property tax bill, the only thing that lawmakers said was "Your taxes are going to go down. Isn't that great?" They failed to mention that those taxes pay for all kinds of services that people expect. Having only half the debate is part of what's wrong with politicians. Hell, I could win an election by going around asking if everyone wanted their taxes to go down. And I'm pretty ugly. It's the rest of the issue where the devil is found and it's that devil that is biting Terre Haute, and just about every other city in the state.

I actually applaud Mayor Bennett for thinking outside the box in forming public/private partnerships such as the sludge to diesel plant. I just hope the people he's dealing with are on the up-and-up and the city doesn't take it in the backside...

That's all I was saying...
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People Bitched about the smell of Terre Haute when they were making paper out of trees on that location Imagine what the smell will be when they make Fuel out of SHIT
 
When I did my student teaching at Plymouth directly north of the football field was a fertilizer plant where they would cook animal hides and turn it in to fertilizer the smell was ungodly.
 
As I understand it, the leader of the company proposing to do this promises that there will be no smell at all. Now, I realize one can promise the moon and deliver a pile of s--t, but it seems to me that the city could build in some regulatory protection against this. You would think, at any rate.

As an outsider, but a person who calls Terre Haute my hometown, I just hate to see the city lose out on what could be a great investment by a private entity, providing revenue to the city and jobs to the people of Terre Haute. Wild eyed hyperbole and scare mongering lost Terre Haute a multi-hundred million dollar BASF plant in the late 80's, and I cannot help but think that it could happen again here. If the city truly isn't on the hook for any of this, and I'm no expert mostly because I live somewhere else, and the only risk is that the city might not get the revenue stream out of it, why not let Powerdyne build it? And then go after some other business that would like to start up here, and enter into a partnership with them. And then another, and another, and another. Diversify. Then, if one or two don't work out, it won't matter as much. But it's all gotta start somewhere.

Just my two cents. Won't really affect me one way or the other, but I would like to see my hometown have some good economic news for a change.
 
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