Jay getting ready to talk Tigue

[RedTails]

There a lot of people (myself included) who only have baseball season tickets. If that's the case, there's going to be a lot of ____ed off people (myself included).

Get you some of them Jim Harris pernts baw.

[cajun_lannister]

So what is it that he said that everyone is so up in arms about? Or is he correct... haters gonna hate?

1. The Lemoine websight is misleading. IT IS. I read 2 phases.. between end of 16 and beginning of 17. Others read it to say phase 1 after 16 and phase 2 after 17. Thats what Jay said and I agree

2. The stadium will be completed this year.. maybe not by opening day but our butts will be in the new Tigue.. I believe that

3. No $2 million pledge has been pulled

4. 70% of $10 million has been received. The project is going to be over-run

This is what I heard

3 . is true .. it was only 250 k pledge

[cajunhawk]

mmmm... ok

Solid burn...

[CajunT]

This was certainly the case with every major project I've donated to. You don't need money in hand to secure a loan and start building.

But you didn't secure a loan, he was given approval by the UL System Board to move forward on the project based upon the fact that Farmer stated to them 70% of the donations were secured. UL is now securing the loan to move forward on the project because the majority of those funds have not been attained. They are doing so through the Ragin'Cajuns Facility Foundation which will require repayment of the funds secured.

[basinbear]

3 . is true .. it was only 250 k pledge

That was stated as a correction on an earlier thread.....

[cajunhawk]

Because some of the money (the Russo $5 million) was gonna be incremental, the University/Athletic Program would necessarily have had take out a loan or bonded some of the project out.

If even just $10 million worth of work was done between now and next spring, Russo will only make its money available over the next 5 years.

UL would/will need an additional avenue to pay Lemoine for $10 (or 17 or 21 or whatever) million worth of work it does in the next year.

Back to the original point...why not tell us that?

[Cajun Monkee]

But you didn't secure a loan, he was given approval by the UL System Board to move forward on the project based upon the fact that Farmer stated to them 70% of the donations were secured. UL is now securing the loan to move forward on the project because the majority of those funds have not been made. They are doing so through the Ragin'Cajuns Facility Foundation which we require payment of the funds secured.

Is the University pursuing a loan on the increased cost of the $7 million above the original cost of $10 million?

Or is the University pursuing a loan of $14 million because there is only $3 million available for a $17 million project?

[VObserver]

Back to the original point...why not tell us that?

Hawk, you know that's not how we do things around here.

[CajunAmos]

Tony didn't say there would be delays after the Super Regionals to my memory. He did say that the project may cause some inconveniences for us and there were only 9 days of weather delays in the contract. He did say there could be some construction running into the season.

I think my response was to a comment about putting in bids for regionals/supers prior to the season.

[VObserver]

Is the University pursuing a loan on the increased cost of the $7 million above the original cost of $10 million?

Or is the University pursuing a loan of $14 million because there is only $3 million available for a $17 million project?

My guess: $14,000,000; secured by a combination of moneys pledged, not yet received, and the good credit of the U.

Not a big deal, except that it should have been done months ago.

[cajunhawk]

Is the University pursuing a loan on the increased cost of the $7 million above the original cost of $10 million?

Or is the University pursuing a loan of $14 million because there is only $3 million available for a $17 million project?

Man, that's a really good question that should be easily communicated to people who want info on the project.

[CajunRebel]

But you didn't secure a loan, he was given approval by the UL System Board to move forward on the project based upon the fact that Farmer stated to them 70% of the donations were secured. UL is now securing the loan to move forward on the project because the majority of those funds have not been made. They are doing so through the Ragin'Cajuns Facility Foundation which we require payment of the funds secured.

Ok, so you're saying he told the UL Board he had 12 million dollars (70% of 17mil) cash in hand even though the largest donation for the project wouldn't fully come through for 5 years?

I think you might be mistaken here.