TIGUE UPDATE?

[basinbear]

We are going to borrow 14 million dollars in this political and fiscal environment in this State to renovate a baseball stadium.....T Joe best break out his fire resistant suit.

[CajunStros]

That's why it never started. Nothing has gotten off the ground yet.

How do you draft plans, make those plans public, put said plans on a wall outside the stadium, tell people for a year this stadium is coming, put said plans on ESPN broadcasts, move in equipment, remove a parking lot, cut concrete, take down fencing, etc and not have someone sign off saying that the project is funded enough to begin? I call what has taken place getting off the ground. You don't do those things and not have the money to see it through. Someone somewhere has to prove that there is money in the bank before a finger is lifted and it goes further than a handshake and nod that the money is there. Shouldn't you have to prove on paper that money is present or at least a certain % is on hand to begin?

Can someone tell me if the original plan was to pay for this thing with 100% donations or otherwise? Bonds? Etc?

[CrazyCajun]

From what they told me the loan is secured and they are close to the program so my guess is they know what they are talking about. But I guess time will tell.

Did they ask you repeat that here? Because if it isn't secured and it gets out before... That wouldn't be good. Trying to borrow money for a baseball stadium while laying off faculty doesn't look good.

[CrazyCajun]

How do you draft plans, make those plans public, put said plans on a wall outside the stadium, tell people for a year this stadium is coming, put said plans on ESPN broadcasts, move in equipment, remove a parking lot, cut concrete, take down fencing, etc and not have someone sign off saying that the project is funded enough to begin? I call what has taken place getting off the ground. You don't do those things and not have the money to see it through. Someone somewhere has to prove that there is money in the bank before a finger is lifted and it goes further than a handshake and nod that the money is there. Shouldn't you have to prove on paper that money is present or at least a certain % is on hand to begin?

Can someone tell me if the original plan was to pay for this thing with 100% donations or otherwise? Bonds? Etc?

How much you think that stuff cost? Compared to what needs to happen now? That's why it stopped at this point...the expensive part...so no, I don't think anything has gotten off the ground at this point. Does the architect care if you ever actually build what he draws? No, as long as you pay him to draw it.

[CharlieK]

If they cannot get the money together right now to start construction, what makes you think they will have the money to pay it back?

Isn't that why people usually get a loan? Cause they have some or none of it now, but a way to pay it off over time? If everyone always had all the money in hand, wouldn't be many loans...

That said, this sure looks like a cluster____ of the first order.

[ManAboutTown]

Isn't that why people usually get a loan? Cause they have some or none of it now, but a way to pay it off over time? If everyone always had all the money in hand, wouldn't be many loans...

That said, this sure looks like a cluster____ of the first order.

You're right. But once again, getting a $14 Mil loan was NEVER a part of the plan. The fact that they're even trying to secure that loan shows gross negligence and at best, a misleading of mega donors.

[cajunhawk]

Isn't that why people usually get a loan? Cause they have some or none of it now, but a way to pay it off over time? If everyone always had all the money in hand, wouldn't be many loans...

That said, this sure looks like a cluster____ of the first order.

Correct, it's also a stall tactic for the desperate. My point is...they cannot raise the money now...how do they expect to repay the debt service if they can't raise anything? I'm not denigrating the ideal of loans, except when they are the last ditch effort. That's never a good scenario, and it usually only delays the inevitable.

[VObserver]

Isn't that why people usually get a loan? Cause they have some or none of it now, but a way to pay it off over time? If everyone always had all the money in hand, wouldn't be many loans...

That said, this sure looks like a cluster____ of the first order.

The point here is that one NEVER lets out construction bids until all the money [whether cash or financing] is secured. I am not entirely certain how the public bid law works for universities, but it may actually be illegal for the university to grant a construction bid without having all the money secured.

Not saying it is, because I have not done the research; just that it may be.

[CharlieK]

You're right. But once again, getting a $14k loan was NEVER a part of the plan. The fact that they're even trying to secure that loan shows gross negligence and at best, a misleading of mega donors.

I don't disagree with any of this. Hence the cluster____ comment.

[CajunStros]

How much you think that stuff cost? Compared to what needs to happen now? That's why it stopped at this point...the expensive part...so no, I don't think anything has gotten off the ground at this point. Does the architect care if you ever actually build what he draws? No, as long as you pay him to draw it.

I understand that but if you look at this as one project and not just phases. Who said, "yeah let's demo a parking lot and take down some fencing, that will get r done"? Someone in charge of the financials of this project needs to be removed from their position.

[IHateLaState]

From what they told me it will go on as planned. That they secured a loan.

Man you are messing with a classic RP meltdown... Duck for cover. Your intelligence.... nay nay... your sanity will now be called into question. You will be told you have no vision... that you are an apologist...

What did i miss???

[cajunhawk]

Man you are messing with a classic RP meltdown... Duck for cover. Your intelligence.... nay nay... your sanity will now be called into question. You will be told you have no vision... that you are an apologist...

What did i miss???

Your humor objective...