[Vision2020] Kibbie Dome costs

[Garrett Clevenger]

Rep. Tom Trail inquired about money spent on the kibbie dome project. Below is an email from UI's Lloyd Mues sent to him.
It doesn't mention anything about private donations.
I gather $25 million will be spent for this project.  $2 million directly from Idaho taxpayers. The rest will be paid for by a $23 million bond funded with student fees.
The questions now are, how much will an individual pay in student fees on a semester basis to fund this bond? How many semester will be required?  What is the total amount will a student pay during this payback?


email from Lloyd Mues:"$2M of PBF money was sent to UI to assist with the life/safety fixes of the Kibbie Dome last year. This PBFAC allocation was not asked for by UI; however, upon being sent to us by the State, we did use it in a complimentary manner that went specifically to life/safety upgrades.  That money went to fire detection/suppression upgrades….. not to the wall. $10M was acquired from Wells Fargo in the form of a short term construction loan (as we could not raise the bonds during the midst of the worldwide financial crisis) to fund the West Wall, Exit Constructions, ADA and other life/safety upgrades.  That short term loan will be paid off tomorrow when we close (in Boise ) on the recent refinance/bonding action. That bonding action will pay off the Wells Fargo loan in total and fund the East Wall corrections (additional $10M) that we anticipate starting work on this Spring.  The Students of the University of Idaho are funding the
 bond payments through a portion of their student facility fee.  So, other than the $2M from the PBFAC last year, this life/safety project is financed through bonds secured by student facility fees."


An interesting article (http://www.govandals.com/ViewArticle.dbml?DB_OEM_ID=17100&ATCLID=204891264) gives you an idea of priorties at UI. They are making sure rich people can enjoy UI athletics as poor students subsidize their pleasure.

"A message from University of Idaho Athletic Director Rob SpearThursday ... the State Board of Education gave us approval to move forward with our plans for suites, club seating and a new press box...
"While we have made significant progress towards meeting our private fundraising, NOW is the time to rally and complete our $6 million dollar goal!  The club seats are going fast and I would encourage you to act quickly.  A single seat is $12,500 with a pair priced at $25,000. The annual maintenance of your seat is $1,250 for a single seat; $2,500 for a pair. To support this project or secure your seat, please contact the Athletic Development Office at 208-885-0259."

Do your duty.  Buy a seat. Let's not let the kibbie money pit go to waste.
This would be funny if it weren't so sad.
Garrett Clevenger
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