Cajun Field Renovation Plans

[GeauxLouisiana]

My understanding was that Russo made a 5M donation for the baseball stadium and the rest was funded by Rcaf and bonds because we wouldn’t start on stadium until the 5M was marched and it never was even though Farmer said it was. If the baseball stadium cost 15m total then it would be nice to have that extra 10 for the football stadium and to tell Russo we couldn’t do the baseball stadium at this time unless he wanted to double his investment because we were wanting to use the rcaf money for football renovations

If I’m wrong correct me, cause this is just what I heard

The original budget was for a $10 million facility. Dr. Savoie gave Farmer the green light on any project once he had 50% of the budget pledged. That's why the Russo's agreed to the $5 million donation. Obviously, the cost ballooned to around $17 million and we didn't have that amount stored up anywhere, which led to the delays in construction.

[ZoomZoom]

Russo stadium will be paid off before you see anything to do with this.

Pull up the state audit of the department and check out the bond schedule. The realities of it all is quite an eye opener. I'll leave it to everyone to form their own opinion.

[fanof71]

Erect a statue of Ray among the rubble ruins of Cajun Field, with inscription
"Never has one man done so little with so much from so few"

[CharlieK]

Pull up the state audit of the department and check out the bond schedule. The realities of it all is quite an eye opener. I'll leave it to everyone to form their own opinion.

wow

[CajunVic]

Pull up the state audit of the department and check out the bond schedule. The realities of it all is quite an eye opener. I'll leave it to everyone to form their own opinion.

Can you post a link?

[cajun_lannister]

Can you post a link?

https://www.lla.la.gov/PublicReports...E/000179B3.pdf

[cajun_lannister]

If im reading this right We will end up paying 20 mill in intrest ... We are trying to pay for a Bugatti on a McDonalds salary

[GeauxLouisiana]

If im reading this right We will end up paying 20 mill in intrest ...

52 ___KING MILLION .... all that while the sport that drives the bus is in a stadium that can't even meet code

Wrong. Bonds on the baseball stadium project will cost us about $3 million in interest.

The real waste is paying off debt and interest because we did the SEZ project.

[Cajun90]

If im reading this right We will end up paying 20 mill in intrest ...

52 ___KING MILLION FOR A DAM BASEBALL STADIUM .... all that while the sport that drives the bus is in a stadium that can't even meet code

You are not reading correctly.....

The bonds were not for baseball. A 10m loan was taken out from MidSouth bank. Scheduled interest is 2.7m. However at the time of the report they were trying to extend the loan so interest will obviously go up.

[anhil8tor]

Interest is almost double???

CHUUUU