CCU to borrow funds to complete work

[Coastal89]

It looks like we'll be getting the improvements to the stadium sooner than we thought. The extra 2000 seats will definately help, with them they should be able to get close to 11,000 in there.

- Coastal Carolina University got state permission Tuesday to borrow $11.3 million to pay for long-delayed maintenance work and expansions needed to meet growth.

The borrowing will not affect tuition, college officials said.

One of the expansions is a field house and addition to Brooks Stadium, where the Chanticleers consistently sell out their games. Other money is for CCU's part of a planned arena.

Breakdown of Coastal Carolina University projects that will be completed with $11.3 million in bonds:

$5,235,000: 40,000-square-foot field house and 2,000-seat expansion at Brooks Stadium
$3,272,500: Campuswide infrastructure such as paving, sidewalks, drainage, lighting, and installation of security cameras and call boxes

$945,000: Renovate multiple classrooms, library space and a greenhouse

$825,000: Renovate existing space into a new 6,500-square-foot environmental quality lab

$550,000: Interior work for basketball-volleyball athletic facility at the arena

$510,000: Renovate laboratories in three buildings

http://www.myrtlebeachonline.com/mld/myrtlebeachonline/news/local/14598017.htm

[chantman]

The new fieldhouse and extra seat will be a welcomed addition to Brooks Stadium.:rotateh:

[colgate13]

$5,235,000: 40,000-square-foot field house and 2,000-seat expansion at Brooks Stadium

$945,000: Renovate multiple classrooms, library space and a greenhouse


5 times the amount of money is spent on football rather than academics. God I love a school with its priorities straight! ;)

[GeauxColonels]

One of the expansions is a field house and addition to Brooks Stadium, where the Chanticleers consistently sell out their games.


What's this "sell out" you speak of?

We know no such beast in Thibodaux...

[Tealblood]

I don't think the article is accurate-
The total for the field house is under 6 million
Almost half of the 6 has to come from donations

[Tealblood]

So well over half of the 11 million goes to "Academnics":smiley_wi

[Sly Fox]

Its great to see Big South schools spending the money to upgrade facilities.

I thought you Chants were always saying the state never helped you guys out?

[rokamortis]

5 times the amount of money is spent on football rather than academics. God I love a school with its priorities straight! ;)

Half of the money is spent on athletics, the other half on other capital projects / repair. I think the university also recognizes that the success of the program has been a huge hit with the amount of student and community interest. I don't know the figures but I would venture a guess that it is an investment that will pay for itself in the near future.


I don't think the article is accurate-
The total for the field house is under 6 million
Almost half of the 6 has to come from donations

The last I heard was that the fieldhouse was $6.5 million but that it may be rising due to material costs.


I thought you Chants were always saying the state never helped you guys out?

Well, letting us borrow money we have to pay back isn't a huge break. We are still the lowest supported school by $ per student.

[CoastalFan2005]

I thought you Chants were always saying the state never helped you guys out?

Well, like Rok said, the state really doesn't help us all that much. Case in point: our enrollment each fall is going gangbusters, while Univ. of South Carolina's enrollment has been declining pretty steadily for the past couple years. There's so many areas that it's obvious we need the money, but we're just not getting it. I guess they'd rather spend those millions upon millions of dollars to keep the Hunley from disentigrating. :rolleyes:

[CCU97]

Not to mention the funds that the state had budgeted for Coastal and then withdrew at the last second and said....well if we don't spend it on something else you guys can get the money we should have been giving you....Being a state hindered school is becoming a huge problem for Coastal....they almost should consider going private since tuition is the largest source of funding for the school already...so they get a few million less a year from the state...if they went private they also wouldn't have to answer to the state either.