$9 million in the pot

[Bergermeister]

Better get the "ok" from Gary Vodicka before we break ground.

[GoRedGoBlue]

if they have 9 out of 12 they will start immediately.

SMU has a policy, unlike Baylor and TCU, to be fully funded + maintenance endowment before starting ANY capital projects.

Unless that has been recinded, I would anticipate we still need 3MM to go (and I would guess that 12MM is for the Practice facilities + coaches offices + some moody renovations)

[NavyCrimson]

"SMU has a policy, unlike Baylor and TCU, to be fully funded + maintenance endowment before starting ANY capital projects."

if that is - indeed - the case, sounds like good biz practices to me -

[gostangs]

I would disagree - I dont think that is always SMU's practice, and I think on occasion, like with an athletic facility, you have the vast majority raised you can move forward with confidence that the last 25% will come.

SMU just finished a huge construction cycle, and the money for many of the building was being raised after they started. With naming right and coporate opportunities no need to hamstring yourself by waiting until it is all in hand.

[smu diamond m]

I highly doubt they will wait. If they have 9/12mil, they will probably get the go ahead during summer (a week from now?).

[mr. pony]

Summer begins June 20-something.

Our idiot culture now has it starting about now.
Besides not knowing geography, most kids today, thanks to our idiot culture, have no idea when the seasons begin and end.


(Sorry... I couldn't help it.)

[Danny Noonan]

Summer begins June 20-something.

Our idiot culture now has it starting about now.
Besides not knowing geography, most kids today, thanks to our idiot culture, have no idea when the seasons begin and end.


(Sorry... I couldn't help it.)

Probably because the idiots in charge let kids out for "Summer break" in May of every year. "Summer" also ends in August, early than it should. I really fail to see what the big problem is. You have a better solution?

[smu diamond m]

Since when does the actual season matter for construction? By summer I simply meant the time students get out, so construction wouldn't be as much of a hassle for as long. As opposed to starting it in August.

[Bergermeister]

It'll probably take 2+ months to go through the bid process --- unless someone has been working behind the scenes.

[aus10fromhous10]

SMU has a policy, unlike Baylor and TCU, to be fully funded + maintenance endowment before starting ANY capital projects.

I don't think that's true. When they did the groundbreaking for the new engineering building, Turner said in his speech the policy is half of the funding. I know for a fact they were still looking for money when that building broke ground, and are still trying to get the last little bit covered.

If they have $9 million, my guess is that they will break ground as soon as Orsini gets on campus full time.

[DiamondM]

Actually, there are rules about how much must be funded to get the detailed engineering designs (bids and architectural renderings were already done to get the cost estimate in the first place), and how much must be funded to do the groundbreaking. I forget the exact percentages, but I believe it's 50% for the drawings and close to 75-80% or maybe even a little higher, I can't remember, to break ground.

The bid process would have already happened. We're raising money to PAY for the bid.

[RGV Pony]

Would it not be possible to put the 9M into something like Boone Pickens's hedge fund, take out a line of credit for the 12 or hell even 20, making the payments on the loan from proceeds from the interest on the 9M?

Okay, so maybe not a hedge fund...but most of us can name someone who can beat an index.