ISU plans to finance the $5 million purchase, with annual payments estimated at $675,000 for 10 years, with interest of 5.9 percent. Funding for the payments will come from athletic department revenues and scoreboard advertising.
Need a big payment to come in, otherwise that is $1.75 million in interest we are going to be paying too!
My guess is we will see renderings soon after the Regents meeting. Someone on here said that there is a regent meeting coming up next week. My guess is that will be t he final approval for the project.
On a second note, who here things it would be a cool idea to reveal this project during the spring game? Someone can go over the intercom and talk about the project while showing the renderings on the current scoreboard. I think that would be a pretty cool idea.
So we may need a donor or a TV deal to offset the 1 million signed..sealed delivered before the next meeting.. I don't see the problem if we can back it. This is will be real sucky if it gets shot down. I will personally drive to Iowa City a pee over any contruction if it gets C Blocked by the BOR.
Last edited by HandSanitizer; 03-17-2011 at 10:22 PM.
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