If you remember, bonds were sold for Phase I in addition to Hudspeth and RCAF Board members going out to raise the difference in the actual cost of completion that was said to be over $30 MM. Also as you have stated, there is an APC Auxiliary Fee of $1.8 MM per year as well. But I'm not worried about the baseball stadium until we are told differently.
I remember and that was the point I was trying to make. At no point have we had the money on hand for any phase. We've borrowed to get things done. It was my understanding from previous comments that any project outside of Tier 1 could be green lighted if 50% was raised. Bonds would likely be issued to cover the remainder to fund that particular project 100%.
So I haven't read through this whole thing. We still renovating the Tigue?
The UL governing board may vote as early as Thursday to name the baseball complex for a Lafayette oil business family.
Would it be named "M.L. Tigue Moore Field at Russo Park"?? Hopefully we are not fully dropping the Tigue from the name.....
One time money veins; Field, Park, Stadium.
It's gotta be that. First, I believe it would take the UL Board to strip the name. Second, there is still money coming into the program from Tigue's estate, and in the future there will be a nice chunk added to it (it's committed elsewhere for a few years).
And third, it would be like 'The Horse Farm'. You can name it whatever you want, it will always be 'The Tigue'.
Rip the band aid off...Laguna Oil Tools Park.
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