Great reporting there Woodward. Surely this is a conspiracy reaching into the highest levels of the ASU administration. If the actual cost of the facilities were to be determined, all that we know and love will come crumbling down..

Oh wait..

In any event, I’ll have my flowerpot on the balcony.

This is one of those issues where it makes me wonder how much information the trustees should be (or are) required to share with the public.

As far as I’m aware, taxes have not been used to finance the stadium. So, in that sense, I assume ASU would not be required to disclose all of the project’s financial details to the public since it’s privately financed. (Someone correct me if I’m wrong about these details. I’m not a Freedom of Information Act expert.)

At the same time, I don’t understand why the trustees won’t clarify what the actual costs are, and what happened.

Here’s an example: As of August 2008 at Anderson University in Indiana, a private school, $80 million worth of construction projects were funded and set to break ground by August 2009; however, many of those projects have been delayed. They’re no longer fully funded. Why? Because many of the donations weren’t given as checks. They were stocks, which have since tanked. The $80 million from last year is now worth only $60M. Basically, Anderson either has to wait for the stocks to regain their value, or they have to raise $20 million more.

Could the loss in value of donated stocks be a reason why the price tag has shot up at ASU? Who knows? But in the case of Anderson, the administration’s honesty makes it easy to sympathize with the projects’ delays & shortfalls. ASU needs to be honest about what has happened, whether it’s legally obligated or not.

Random question for Appnaysayer in response to a previous post:

What’s so bad about the Old Belk Library building? I never took classes there because it was still the library when I graduated. I thought it was renovated and figured it was a good, spacious place, far better than Whitener. Besides, I always figured the worst remaining building on campus, besides some of the dorms, was IG Greer.

nice picture of KBS

well I know other schools in the state might be bigger but I’d like to see a comparison to Wake Forest, UNC, NC State, and ECU on what they’re spending on athletics facilities

I wonder how long that $10 Enhancement Fee for season tickets will be in place.

I don’t even feel like talking about it.

How about that?

Its hard to imagine fallen stocks could account for that much of a monetary difference. Most of the quoted money came from student fees, for that kind of a change, virtually all of the private donations would have to be stocks that totally tanked (like as in 80%+ of their original value).

the OBL rocked as a classroom facility. as a history grad, I far preferred its confines to that of whitener. WAAAY more room and far better smelling.

Interesting bit of research AppFan.

First question: What is typical for change orders/cost overruns on a project of $32 million?

15 million seems a little high unless there were some major changes that needed to be made as the project progressed…?

Fascinating stuff on finances. 68 million seems to me a huge amount for ASU to spend on such a “renovation” project. But, as several here have pointed out, what do I know?

As for Old Belk (I think it’s now called Anne Belk Hall), any student who actually went to class there will tell you the university left the building half complete. Indeed one whole floor was unfinished. There is NO soundproofing at all; the walls between classrooms only go as high as the false ceiling so sound bleeds in from all directions. I’m told that when a lecturer pauses, students can hear others talking on cell phones in the hall. Films literally rattle pictures on walls. Some of the furniture is still ancient, hand-carried from Whitener, complete with graffiti; ceiling tiles (still there from the library days) are crumbling; the heating/cooling (although renovated) is random at best. Sanford? Have you been in the place lately? Puh-leeze…

The Old Belk Library is a joke.

And not a good one, like I tell.

Had the good fortune to speak with someone from Shelco last week. He indicated the new building will wind up costing around $30 mil. Over $10 mil for the additional seating on the East Stands, bathrooms (all of them), concession stands, and I am assuming new lights. When you add these figures to those of the Varsity Gym makeover, baseball stadium, soccer stadium, indoor practice facility, turning the old baseball field into a softball facility, ect. I can see where $68 mil is possible

Do as we did and step up to the plate. Increase your giving and if not a yosef member then join….be proud of what we have accomplished. Look at all of the changes to ASU in the past 5 years or so and it is amazing what our campus has become. We are close to closing the gap on the extra money thanks to hard working administrators through private giving…Our galss is not half empty!

Change orders seem to be the main reason for the over run. These would be comprised of upgrades, plan changes due to conditions encountered that differ from the original plans, material cost increases (concrete), etc. Bad thing about this is the timing of the start of construction in relation to the construction industry today. Projects are routinely bidding for 25-40% less than they were just a year ago due to lack of work on the market leading to the most competitive environment in construction history. However, the funds would probably not been there today either. Chicken / egg thing I suppose.

A Willie Nelson fan?

I can imagine that the unknowns surrounding grading, soil quality…etc around the stadium produced some serious changes to initial plans. Homes built on level ground encounter these problems so imagine the additional issues when you are literally moving a mountain to build a tower.

As for the crappy Belk, Sanford Hall conditions…we just call those “character.” Or at least that is what we called it when Walker Hall used to flood or have electrical problems or the heat would go out or the sidewalk would erode……you get the picture.

I haven’t done research into App’s specific situation but the added cost could be due to the turmoil in the financial markets. In addition to falling value of stock contributions, if App had not went to the bond market at the best time, they would have had to pay much higher interest rates. This is especially true if they went to the market back in the fall. I think the rates have come down since then but are still higher than what they were several years ago.

If I recall, the initial $32 million didn’t include the new East side deck or the new bathrooms/concessions underneath that structure. That’s not the entire overrun, but it’s likely a large part of it. Also, we experienced a huge run up in the cost of materials during the bulk of the building phase, as well as fuel costs to the construction companies shuttling workers up and down the mountain. That’s got to be another part of the overrun, which was likely written into the contract but not really part of the “stated” costs initially. Working in the building industry, I can see how this happened. I doubt we’ll ever see the numbers released with any fanfare, though.

The contractor also said ASU had a “pile” of money already invested in the players walkway from the building to the field. Lots & lots of rock to break through.

This is the best way for the university to invest in the future. This will do ten-fold more than any other building on campus. We need to encourage our athletic dept. to do exactly what they are doing.
We never question Washington or The BIG O.
Cut them some slack. Unlike them they are actually getting something done!!!

This is the best way for the university to invest in the future. This will do ten-fold more than any other building on campus. We need to encourage our athletic dept. to do exactly what they are doing.
We never question Washington or The BIG O.
Cut them some slack. Unlike them they are actually getting something done!!!

Oscar Robertson is in DC? With richard (Cheney? Nixon?) and Max (Cleland?)?

Just hanging with Les Maddox

The axe(handle) man? He’s older than I am. Hell, he’s even dead! But then, so is Nixon.

At least you (you guys?) are down to one post per post.