State Budget Committee OKs funding for Hulman Center project

[Westbadenboy]

Hulman Center .......

So my question is, how long does Terre Haute and ISU have to finally put this thing together, get the funding sorted out, plans finalized, and actually start construction ? I know some us (me) were stupidly optimistic things were happen rapidly in the weeks/months following the state offering this money. Hell, we'd all be wishing for "someone" to step up and offer 25 - 30 million dollars to jump start something like this --- the state did it and it just seems like is just dragging on and on.

I know this is a different thing here in Carmel (and sometimes I think things move too quickly her), but cheezz the Carmel Mayor announces he wants more roundabouts, and new set of office buildings, or some new parks and wham bam .......... seems like a few days/weeks later there's a drawing of what it will look like in the paper and suddenly big machines are moving dirt.

Get going or get out of the way -- let's get this done !

 

[BankShot]

Well, Thursday's Trib-Star headlines adds further problems to the HC issue re: financing:

http://www.tribstar.com/news/mayor-...cle_48d4c574-6cc6-11e7-8b19-cf435fe0b738.html

When added to the recent FBI scrutiny (which is continuing) of the Vigo County Schools, you can see & smell the dirty air floating over the Wabash Valley horizon.

While discussing the project w/ my IN State legislative office a couple weeks ago, here's what they said:

"In 2015, the budget bill authorized the bonding of $75 million for the Hulman Center Renovation project. The state pledged half of that amount ($37.5 million) for fee replacement. In other words, there is not $37.5 million waiting in an account for the project. Rather, the state is obliged to pay $37.5 million in debt service payments as they become due.

Our fiscal staff and the State Budget Agency confirmed with me that the authority to issue this $75 million in bonds will exist until the language passed in the 2015 budget is repealed. Furthermore, the 2017 budget passed earlier this year builds in the fee replacement costs of this renovation into the appropriation for Indiana State University.

Also, it is my understanding that Indiana State University could contribute to the needed matching funds for this project if they choose to do so."

And yes, the FBI is likely reviewing this BS scenario a couple years ago...

http://www.tribstar.com/news/local_...cle_f14d50fa-f6a5-5dac-89f3-3ff0666b00fa.html

 

[Westbadenboy]

Trump/Republican Care

Sorry if this offends anyone -- especially my Republican friends. And I don't want to turn this thread into a political discussion. But this just reminds me of the whole health care mess in Washington DC now.
Repubicans bitched for years about ObamaCare (a label THEY put on the program) and refused to allow any modifications to it to perhaps make it better -- at least partially because that would still leave Obama as some type of hero -- Lord knows no self-respecting Republican could allow that (just as no self-respecting Democrat these days could allow for anything the Republicans have done right to be applauded).

Now the Republicans have the power and they are totally fumbling and bumbling around -- they should have had a plan for the past 5 - 7 years, ready to put into place if they ever got the chance ........well, they've got the chance.
(Sorta reminds me of an earlier discussion we all had about the MVC having a plan in place in case Creighton and/or Wichita State left).

So now, after years of say'n "We ain't got no money to fix up Memorial Stadium or Hulman Center ..........sure wish one of our multi-millionaire alumni would write us a check" .........well, the State of Indiana did just that. It may not be a pile of money sitting in a box at the Statehouse, but that's really what they've done.

And the movers & shakers of Terre Haute and ISU look an awful lot like the fumblers and bumblers in Washington DC to me .........
guess its kinda like old Donald himself said "this stuff is complicated" ..........

Sad ......Very Sad ............
:angry:

 

[Westbadenboy]

Someone who knows how to do this ...............forward my post above to every "mover & shaker" in Terre Haute and ISU

Hell -- send it on to the idiots (Rep and Demo) in Washington DC also

I'm pissed ! ! !

 

[Fiji Bill 72]

I like what you wrote. It is irritating how IU and Purdue can get things planned and built while we are still talking about it.

 

[4Q_iu]

I like what you wrote. It is irritating how IU and Purdue can get things planned and built while we are still talking about it.

True but current $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ held by those institutions cover a LOT of "problems."

Not to mention the guaranteed truck-loads of $$$$$$$$$$$$$$$$$$$$$ from the Big Ten Network deal

 

[bluebill]

Someone who knows how to do this ...............forward my post above to every "mover & shaker" in Terre Haute and ISU

Hell -- send it on to the idiots (Rep and Demo) in Washington DC also

I'm pissed ! ! !

Forwarding your remarks to the TRASH where they belong. ....... Basketball' man.

 

[Westbadenboy]

huhhhh ..........? ? ? ?

What ? ? ? ?

 

[SycamoreStateofMind]

huhhhh ..........? ? ? ?

What ? ? ? ?

I don't know if I am interpreting correctly but I think what he was trying to say is what you had to say was trash. In other words he didn't care too much for it.

Not saying I agree or disagree. Could be wrong but that's what I think he was trying to say.............

 

[Westbadenboy]

I sorta got that .............although since there was no explanation, no real contribution to the discussion.
Look I'm sure it is complicated.
But you can't plead poverty for years and use that as a reason for why Hulman Center has issues. Then get this opportunity and be struggling to put something together.
Who knows what lies down the road for college sports and renovation of HC might not make much difference for ISU ...............or it could be a game-changer.......just don't want to see this opportunity lost

 

[bluebill]

A little slow on the pick-up there....."What has Obamacare, and your political views, got to do with Hulman Center"?

 

[niklz62]

I dont want to start anything political but Ill state my one sided opinion that I prefer everyone not dispute and we can get back to the original topic while agreeing that what I said was on point.

 

[Jason Svoboda]

I think I've asked this before but can never get a solid answer... but why doesn't ISU just bond the difference? Is it because they technically don't own it so they don't feel like they should have to? This is a golden opportunity for a facility that is basically on campus so I just don't understand State's position fully. Help me out.

 

[4Q_iu]

I think I've asked this before but can never get a solid answer... but why doesn't ISU just bond the difference? Is it because they technically don't own it so they don't feel like they should have to? This is a golden opportunity for a facility that is basically on campus so I just don't understand State's position fully. Help me out.

are they able to issue more bonds? I know there's a ton of other construction occurring on-campus, is there a cap that can be issued?

obviously the BEST way to fund this project is an "angel alumnus"... though I don't think anyone has come forward

 

[Southgrad07]

I believe ISU feels that they have contributed their part with the states 37.5 mill and it's up to the city to cover the rest or very close to it. I would argue against that notion and say ISU has as much to gain or lose from this project as the city does.

At some point they have to bend a little and either cough up more up front or at least be open to raised renting costs annually. So at least the city would have more annual income coming in to help maintain and run the place year to year. I know that is one of the big sticking points right now from the cities perspective... how do you fund the yearly up keep and maintenance? The tax that was shot down was suppose to do that...but ISU needs to come up with another solution and not use that failed legislature as an excuse as to why this thing can't happen.

 

[Westbadenboy]

Ok ...one more attempt at moving this discussion or at least dealing with the frustration I raised. Its very simple, after years of hoping for some revenue to help pay for upgrades to Hulman Center it seems like the folks in Terre Haute and ISU are moving pretty slow --- and YES these folks are either politicans or very closely related to that type of occupation. So the comparison to Washington DC was VERY valid -- huge issue .....lots of complaining for years by people in power positions ........opportunity for action and possible improvement .............and now lots of inaction, arguing, and nothing getting done.
And if you simply read my first post it attacks both Rep and Demo .........so not sure if you could have a clue about "my political views"
I'm not attacking anyone in particular in Terre Haute or ISU -- merely pointing out that the lack of action and agreement neither looks good or is cost effective -- costs I'm sure escalate every moment contracts are not signed and dirt starts flying.
And it pushes back another season the Sycamores will have to play in a world class facility and maybe get some traction in this revamped MVC.
There shouldn't be anything in any of the above that every ISU would disagree with.
And last -- make fun of Carmel if you wish -- sometimes it does seem a little snobby and such. But dammit things get done here ..........there's a reason its named the best place to live in America. Ideas come up, they're considered pretty quickly, and action gets going.
Most of Indiana could learn a lesson from what happens here -- Terre Haute/ISU included !

 

[Jason Svoboda]

are they able to issue more bonds? I know there's a ton of other construction occurring on-campus, is there a cap that can be issued?

obviously the BEST way to fund this project is an "angel alumnus"... though I don't think anyone has come forward

Yeah, that is probably true. Between the HHP building, dorms and everything else, they could be tapped.

I think they can rule out angel alumnus but this is where I would bring up naming rights. At this point, could the building be renamed? If not, could it be split? For example, could it be renamed Thompson Thrift Arena and Hulman Convention Center?

 

[Jason Svoboda]

I believe ISU feels that they have contributed their part with the states 37.5 mill and it's up to the city to cover the rest or very close to it. I would argue against that notion and say ISU has as much to gain or lose from this project as the city does.

At some point they have to bend a little and either cough up more up front or at least be open to raised renting costs annually. So at least the city would have more annual income coming in to help maintain and run the place year to year. I know that is one of the big sticking points right now from the cities perspective... how do you fund the yearly up keep and maintenance? The tax that was shot down was suppose to do that...but ISU needs to come up with another solution and not use that failed legislature as an excuse as to why this thing can't happen.

I totally agree with you. I also don't agree that the state government's appropriation should be ISU's only skin in the game. At the same time, if they come up off money, what do they get out of it?

 

[SycamoreFan317]

This is where decades of horrible alumni contributions are coming back to haunt us. Our puny endowment fund is a joke.

 

[WOZ]

This is where decades of horrible alumni contributions are coming back to haunt us. Our puny endowment fund is a joke.

Not just horrible alumni, but presidents that weren't business savvy or endowment offices not staffed or trained properly and without significant goals.