2012 New Orleans Bowl

[Cajun Monkee]

I know that a public tax was presented and voted down by the people of Hattisburg for S Miss---Wish we could get a Lafayette funding source for UL----I am very worried about the economy---We have a Socialist in the WH and I think we are headed for a terrible recession and Jimmy Carter type inflation---WE need to establish these interest rates NOW and get the raw materials and the labor costs while they are affordable. Ironically these were the premises that T-Joe so eloquently used against the RED-NECK board members on the Campus dorms construction---Hell who knows---just some thoughts!!!

Don't know if a local tax would be an option. UL is a state entity and I dust don't know that the State would allow us to have a local vote to fund something for a local university.

For example, the gas taxes we pay at the pump are federal and state. Programmatically, these revenues are SUPPOSED to go to road construction/maintenance (I think they also pay for State Police - remember, I said supposed to go to contruction). Lafayette Parish is a donor Parish when you look at the State revenues produced by this tax. But we get NOWHERE close to a return on the construction dollars in this Parish. Basically, we contribute way more than a dollar in gas taxes to the state and get way less than a dollar in construction projects. Desoto Parish contributes way less in gas taxes to the State but they get way more than a dollar in construction projects.

I think the possibility of having a local option gas tax for Lafayette Parish has been discussed but the State has never been willing to consider it. Pretty sure it would take an act of the Legislature but it hasn't happened.

You can probably anticipate the same problem with a local option Higher Education Tax.

I don't mean to come across as thinking this is a bad idea. On the contrary, I think its a great idea. Not sure how much a 1% sales tax would generate. From what we're hearing about the proposed LCG Parks and Rec property tax, I think a 5 mill property tax would generate $6 million. As I said before, I think this would another incredible example of community commitment to the program, which would should make the program more attractive to bigger conferences.

[cajuncorkdork]

Are you with the Shreveport Chamber?

Z

Uh, no.... I live here in cajun country

[cajunhawk]

Uh, no.... I live here in cajun country

Do you really?

[CharlieK]

First let me say this: I'm not a CPA. I just have a little knowledge of public financing. By no means am I'm trying to pass myself off as an expert. I'm sure we have some CPAs on this board who are more than qualified to answer the questions.

To answer your second question first, yes, I think there is a legal limit on how much debt a public institution may incur.

Don't know the answer to your second question, that's why I asked it.

And I'm not saying this because I'm "focused" on why it can't be done. On the contrary, I've advocated for another student assessed fee. I've suggested looking in to getting the State Legislature's approval to increase UL administrative contribution to athletics. Again, I plead ignorance on this. I don't know how much comes from General Fund/tuition, how much is allowed by law, if UL meets this limit, and what it would take to raise the limit (the limit in this case is related to how much State Universities can use for athletics as opposed to a limit on bonding capacity).

If UL were to bond the projects out using revenue raised by Football, you'd pay much higher rates than if the bonds were backed by UL's overall budget or the State. Remember what happened a few years ago when LUS bonded out the Fiber Program. LUS wanted to use its entire revenue base to obtain lower rates, but a State Court ruled they could only use revenues from the Fiber Program which in turn resulted in higher rates on the bonds.

Now, if there are local banks out there willing to fund long term capital projects for athletics thru low interest loans, and UL has the ability to pay these loans back without an increase in any tuition or student assessed fees, by all means do so. They'd be crazy to not do it. I'd still want to advocate for another student fee and/or increased University contribution to athletics. But who/where are these banks? Are they gonna offer UL $50 million at 4% over 30 years to improve Cajun Field?

Again, I'm not a CPA. I am a UL fan (I admit it, I loved Marty Fletcher and drove Brian Mitchell to the movies and Todd Hill around town) who wants the athletic program to be more than it can be . I just don't know if "taking out a loan" is as easy running down to the nearest "check-into-cash" place.

I don't think anyone here thinks its that easy either. In fact we know its hard. That's why we are so upset there hadn't been a plan laid out to get it done. We KNOW you can't just snap your fingers and get it done. That is OUR point. But it will never get done if we don't start the process. We arnt being impatient, we've been patient for too long. The local economy is strong, interest rates are low, lets get the fricking ball rolling .....whatever the mechanism needs to be.

BTW I appreciate your input and wasn't trying to argue the point. I just know where we could be and hate seeing potential wasted.

[CrazyCajun]

There is no way we are at our limit, how could we be? Authement's tight a s s didn't spend money on anything for years. I'll give him that, if there is one thing he did, he left us with little to no debt.

[Cajun Monkee]

I don't think anyone here thinks its that easy either. In fact we know its hard. That's why we are so upset there hadn't been a plan laid out to get it done. We KNOW you can't just snap your fingers and get it done. That is OUR point. But it will never get done if we don't start the process. We arnt being impatient, we've been patient for too long. The local economy is strong, interest rates are low, lets get the fricking ball rolling .....whatever the mechanism needs to be.

BTW I appreciate your input and wasn't trying to argue the point. I just know where we could be and hate seeing potential wasted.

That's cool. We wouldn't be here if we didn't love the University and the community.

And like I said, I have no idea what UL's bonding capacity is and if they've met it. And if they haven't met it, by all means, reach.

I work for LCG. Our CFOs have been customarily and historically conservative (as a liberal, I tried to find a different word to use, but you gotta work with what you got) and have way underestimated our capacity. This in turn makes us look good to the bond market. If UL works from this perspective, it is a good time to move. If we have the money, if we have the potential, if we have the capacity...move.

I just don't know where the University is. And if we don't have the money and we don't have the capacity, the potential is moot. The administration would be bad stewards of public money if they speculated on what the football team might be in 10 years.

Again. I don't know the situation. By all means, if somebody does, please tell me. And if the situation is much more promising, then the administration is being lazy.

I was so proud of my daughter today. She's a junior in Animal Sciences. We were shopping and she saw two UL shirts she liked. Couldn't decide on which one she preferred. So I did what any good dad would do.

[The Floridian]

Would anyone be up for one of the bowls in Orlando?

[Cajun Crusader]

Would anyone be up for one of the bowls in Orlando?

To put it simply .. Hell Yea ... I've never been to Disney World. I'd take a whole week off and do it all ... I believe this has just moved to the top of my list ..

[The Floridian]

To put it simply .. Hell Yea ... I've never been to Disney World. I'd take a whole week off and do it all ... I believe this has just moved to the top of my list ..

Lot more to do in Orlando besides the House of Mouse. Yes, there is the theme parks (definitly check out Universal Islands of Adventure if you love roller coasters) but there is also easy access to beaches, some nice golf courses, LOTS of hotels and good seafood on the coasts (mostly fish as opposed to crustaceans). If there are any complaints is that traffic sucks and crime has become a problem in certain areas (what large city doesn't?).

[CharlieK]

I really comes down to this....does our administration truly believe a strong, visible athletic program (which means a strong football program) is important for the overall university vision or not? Considering our fiasco of a branding situation, I think it's obvious that if anything it's more important for us than most. If that's the case, then we are in luck! We sit here with a perfect storm of circumstances....a booming local economy paired with historically low interest rates. A state loaded to the gills with football talent AND people who love the sport, a ridiculously good coach/salesman, and a fired up fan base. The iron will literally never be hotter. If we don't strike now, we are fools.


As for paying the note. Considering we operate without a student assessed fee, and have extremely low tuition, it seems we have a built in funding source, if needed. But that's where the administrations belief or non belief comes in....if they truly believe its important they will lead....which may mean taking some risks and taking some heat....

[CharlieK]

From what I've heard the Monroe fans did their part. Not their fault Tech pussed out killing a sellout and the weather got bad.

Or that their coach was exposed.

[GoneGolfin]

I was at the I-Bowl yesterday. The threat of rain kept a good bit of locals home. The Monroe sideline from 20 to endzone on both ends was full in the first quarter. Place was a ghost town after halftime. It was COLD!! Made me grateful for the dome last week.

Yes, this was what I saw on TV as well. I would guess about 23K or 24K in actual attendance. Much more than the 15,000 Jimmy Watson derisively tweeted. The crowd looked very similar to the 2008 Louisiana Tech vs. Northern Illinois game. In fact, "paid" attendance for 2012 was slightly more than 2008. 2008 saw a "paid" attendance of 41,567 vs. 41,853 this year.

Brian

[Just1More]

J1M, what specifically do you mean by a loan?

And what specifically would you spend the money on?

I don't know what our debt limit is. However, while we had already secured funding for the campus facility improvements, T-Joe and Scott stated that Cajun Field renovations were imminent. They were reviewing plans and costs and were talking about getting approvals in one swipe instead of segmenting it. Then, with state budget cuts, all conversation ceased. At that time, we were barely creeping with RCAF. So, they apparently required no proof of its potential. They also didn't have confirmation of Hud's tremendous abilities, the largest increase in Cajun Field attendance, or record breaking bowl appearances due strictly to UL fan interest (at this embryonic stage of our reawakening). I feel very confident that nothing, from a financial perspective, is any worse for UL, than was the case back then. The state budget cuts to institutions of higher education operating costs are what I believe put T-Joe in a "political" situation... not an incapability of funding of Cajun Field renovations.

Further, we've passed a student facility fee that had not existed, and had no guarantee of existing, when UL bonded the campus improvements. That has to have raised our debt ceiling. Also, federal money was made available due to energy efficiency measures employed by these projects. Plus, additions made are expected to bring in more students. They are regarded as investments, not simply campus maintenance projects.

I firmly believe that if T-Joe wanted Cajun Field renovations to be funded, he can get it done.

[Just1More]

Would anyone be up for one of the bowls in Orlando?

Yes.

[Just1More]

to all you knocking Shreveport, wouldnt you rather see us in the Indy Bowl against an ACC or SEC team than the others vs CUSA or WAC or something like that???

There is something to be said for having an opportunity to knock off a BCS opponent in a bowl... outweighing our current focus on location/venue... but we don't necessarily have to go to Shreveport to make that happen. And, I feel the Indy will come calling on us only when they're not in a position to match us up with a BCS opponent.