re: BOS set to approve the WBB locker room Renovation Project

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The first million was an immediate donation, another 50 million is to be raised by private donors through TAF, thus leaving 50 million from the state while it is priority 5. I don’t believe these projects are l fully funded at the beginning. They pay back over time, getting 50 million 5-8 years from now is not a bad plan to finish off the payback.

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The state can sell so many millions in bonds each year for capital projects; thus the reason to prioritize projects.
Five is way way down the list.

If a project is budgeted at 100 million you have to pay the contractor the full amount after the project is accepted, punch lists are addressed and the lien period expires. The contractor isn’t going to wait years to get the rest of his money.

Consequently, the bonds to pay for the work have to be sold and financing has to be in place for the project to move forward.

Oh and the one million dollars can get things started, but the architectural fees alone would be way more than that. That money could be used for a study and that’s about it.