Author Topic: KU's new basketball dormitory facility  (Read 49459 times)

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Offline kim carnes

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Re: KU's new basketball dormitory facility
« Reply #50 on: February 13, 2014, 08:03:21 PM »
Didn't the article in the paper say it's all funded by private donations?

by private donations they meant bonds

Offline Belvis Noland

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Re: KU's new basketball dormitory facility
« Reply #51 on: February 13, 2014, 08:27:20 PM »
Nevermind.  Facility to be paid for by private donations and bonds, to paid off by revenues by the facility.  Not really sure what "revenues" are generated by scholarship athletes living there. 

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Re: KU's new basketball dormitory facility
« Reply #52 on: February 13, 2014, 08:36:52 PM »
Nevermind.  Facility to be paid for by private donations and bonds, to paid off by revenues by the facility.  Not really sure what "revenues" are generated by scholarship athletes living there.

probably costs way more than regular dorms
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Offline Belvis Noland

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Re: KU's new basketball dormitory facility
« Reply #53 on: February 13, 2014, 08:48:47 PM »
Nevermind.  Facility to be paid for by private donations and bonds, to paid off by revenues by the facility.  Not really sure what "revenues" are generated by scholarship athletes living there.

probably costs way more than regular dorms

Costs more to live there?  Yeah probably.  But, since most of the residents are scholarship athletes, the rent (ie revenues) is being provided by the school.  Not like WSC where there revenues flow from private individuals.

Offline star seed 7

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Re: KU's new basketball dormitory facility
« Reply #54 on: February 13, 2014, 08:51:45 PM »
Nevermind.  Facility to be paid for by private donations and bonds, to paid off by revenues by the facility.  Not really sure what "revenues" are generated by scholarship athletes living there.

probably costs way more than regular dorms

Costs more to live there?  Yeah probably.  But, since most of the residents are scholarship athletes, the rent (ie revenues) is being provided by the school.  Not like WSC where there revenues flow from private individuals.

maybe i'm way off, but scholarships aren't just the school giving stuff for free.  sure it's moved from the scholarship department to the housing department, but the rent is still paid.
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Offline Belvis Noland

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Re: KU's new basketball dormitory facility
« Reply #55 on: February 13, 2014, 08:52:51 PM »
Could this be why Vanier 2.0 is slow to be announced?  Currie had inside track from BOR that legislature would not approve the bonds, so he's lining up 100% private funding??  I'm not really sure how this stuff works.

Offline CyberToothCat

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Re: KU's new basketball dormitory facility
« Reply #56 on: February 13, 2014, 09:04:15 PM »
Could this be why Vanier 2.0 is slow to be announced?  Currie had inside track from BOR that legislature would not approve the bonds, so he's lining up 100% private funding??  I'm not really sure how this stuff works.

What makes you think Vanier 2.0 is slow to be announced? We just opened a $75 million facility less than six months ago and you think the next project is being slow-played?

Offline sonofdaxjones

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Re: KU's new basketball dormitory facility
« Reply #57 on: February 13, 2014, 09:34:27 PM »
NEZ/Vanier is donor funded, was probably never going to happen without the vast majority being donor funded.

If ku raised all the money privately this would be a rubber stamp, where the Legislature is balking is at the issuance of debt to build a dorm for a select few, mainly athletes. 

Plus the argument that ku basketball makes a lot of money is immaterial, because I doubt ku athletics inc. is going to be the one incurring the debt.   I doubt ku athletics can have their name on it any way in terms of who owns, runs and finances the place, per NCAA rules.

Once again, this is where your typical squawk doesn't have a clue.   

This is very Max Urick of Cheyenne Zulu.








Offline WildcatNkilt

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Re: KU's new basketball dormitory facility
« Reply #58 on: February 13, 2014, 10:11:55 PM »
It is a facility that isn't justified.  It's housing offered to 24-32 men and women's bball players to protect their privacy (not possible btw).  The majority of those players are on scholarship.  The rest of the rooms go to students who are probably not picked at random.  How does this facility pay for itself?  Can it even break even during the year? 

At least with Vanier it is privately funded, houses offices and training facities for 100+ athletes, and generates revenue 3-1/2 months out of the year to keep it operational. 

Is KU's dorm really going to benefit recruiting?  They have the top two NBA draft picks and they managed to pick KU without a dedicated bball dorm.  The KU meltdown over this is ridiculous. 
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Offline Bqqkie Pimp

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Re: KU's new basketball dormitory facility
« Reply #59 on: February 13, 2014, 10:32:33 PM »
NEZ/Vanier is donor funded, was probably never going to happen without the vast majority being donor funded.

If ku raised all the money privately this would be a rubber stamp, where the Legislature is balking is at the issuance of debt to build a dorm for a select few, mainly athletes. 

Plus the argument that ku basketball makes a lot of money is immaterial, because I doubt ku athletics inc. is going to be the one incurring the debt.   I doubt ku athletics can have their name on it any way in terms of who owns, runs and finances the place, per NCAA rules.

Once again, this is where your typical squawk doesn't have a clue.   

This is very Max Urick of Cheyenne Zulu.


Here's a post by our very own resident 180 IQ OregonSmock at phoggie.net
Quote
Pepperjax34 wrote: KU should just finance this privately. Our basketball program makes at least that much money on an annual basis.

Thus rendering the second bolded statement in your post an absolute certainty.

bears are fast...

Offline sonofdaxjones

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Re: KU's new basketball dormitory facility
« Reply #60 on: February 13, 2014, 11:26:53 PM »
NEZ/Vanier is donor funded, was probably never going to happen without the vast majority being donor funded.

If ku raised all the money privately this would be a rubber stamp, where the Legislature is balking is at the issuance of debt to build a dorm for a select few, mainly athletes. 

Plus the argument that ku basketball makes a lot of money is immaterial, because I doubt ku athletics inc. is going to be the one incurring the debt.   I doubt ku athletics can have their name on it any way in terms of who owns, runs and finances the place, per NCAA rules.

Once again, this is where your typical squawk doesn't have a clue.   

This is very Max Urick of Cheyenne Zulu.


Here's a post by our very own resident 180 IQ OregonSmock at phoggie.net
Quote
Pepperjax34 wrote: KU should just finance this privately. Our basketball program makes at least that much money on an annual basis.

Thus rendering the second bolded statement in your post an absolute certainty.

Well Bookie, love ya bro, but Beems is right on ku financing the thing privately. 

Where they are mislead is thinking that what ku basketball makes income wise is going to somehow sway some legislative thinking.   It's not ku basketball or ku athletics that's going to be on the hook for the debt (in all probability), yet it's clearly ku basketball that's deriving all the benefit from the dorm being built.   Sure, ku may have plenty of unrestricted funds on reserve to secure the bond debt, but for some legislators it's the principal of the school itself taking on more debt to build a dorm for the basketball team. 

What it sounds to me like is Zulu and Self have a little penis envy going with Kentucky's Coal Wildcat Lodge basketball dorm (100% privately funded) so they're trying to get one built at ku ASAP.

I suspect, though I can't be certain, that the reason why ku's apartments are going to be twice as large as say Kentucky's in terms of rooms, is so they can pile more fee paying "regulars" in there, to off set expense for the athletic department on the room rental and fees and to help pay the debt.   When you issue bonds through KDFA, just like any where else, you gotta write up how you're going to pay off the debt, and give that report to legislators and ratings agencies.   Welp, I suspect that some legislators would get heartburn over this, no matter how butthurt ku T-shirt nation gets.  Again only speculation on my part, but there's a good chance that ku housing services will be on the hook for the bond debt.   Individual entities within Kansas public universities like athletics, housing services, parking services, student union corps etc. etc. can sell bonds to finance their undertakings with the university/state as the guarantor.   



« Last Edit: February 13, 2014, 11:32:16 PM by sonofdaxjones »

Offline #LIFE

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Re: KU's new basketball dormitory facility
« Reply #61 on: February 13, 2014, 11:30:36 PM »
They really can't fund that privately?  I mean, KSU grads are digging $10 mil out of their couch cushions these days.  T & P's lil bro

Offline bones129

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Re: KU's new basketball dormitory facility
« Reply #62 on: February 13, 2014, 11:32:02 PM »
Will Self leave KU for the NBA because of this?

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Re: KU's new basketball dormitory facility
« Reply #63 on: February 14, 2014, 12:04:18 AM »
NEZ/Vanier is donor funded, was probably never going to happen without the vast majority being donor funded.

If ku raised all the money privately this would be a rubber stamp, where the Legislature is balking is at the issuance of debt to build a dorm for a select few, mainly athletes. 

Plus the argument that ku basketball makes a lot of money is immaterial, because I doubt ku athletics inc. is going to be the one incurring the debt.   I doubt ku athletics can have their name on it any way in terms of who owns, runs and finances the place, per NCAA rules.

Once again, this is where your typical squawk doesn't have a clue.   

This is very Max Urick of Cheyenne Zulu.


Here's a post by our very own resident 180 IQ OregonSmock at phoggie.net
Quote
Pepperjax34 wrote: KU should just finance this privately. Our basketball program makes at least that much money on an annual basis.

Thus rendering the second bolded statement in your post an absolute certainty.

Well Bookie, love ya bro, but Beems is right on ku financing the thing privately. 

Where they are mislead is thinking that what ku basketball makes income wise is going to somehow sway some legislative thinking.   It's not ku basketball or ku athletics that's going to be on the hook for the debt (in all probability), yet it's clearly ku basketball that's deriving all the benefit from the dorm being built.   Sure, ku may have plenty of unrestricted funds on reserve to secure the bond debt, but for some legislators it's the principal of the school itself taking on more debt to build a dorm for the basketball team. 

What it sounds to me like is Zulu and Self have a little penis envy going with Kentucky's Coal Wildcat Lodge basketball dorm (100% privately funded) so they're trying to get one built at ku ASAP.

I suspect, though I can't be certain, that the reason why ku's apartments are going to be twice as large as say Kentucky's in terms of rooms, is so they can pile more fee paying "regulars" in there, to off set expense for the athletic department on the room rental and fees and to help pay the debt.   When you issue bonds through KDFA, just like any where else, you gotta write up how you're going to pay off the debt, and give that report to legislators and ratings agencies.   Welp, I suspect that some legislators would get heartburn over this, no matter how butthurt ku T-shirt nation gets.  Again only speculation on my part, but there's a good chance that ku housing services will be on the hook for the bond debt.   Individual entities within Kansas public universities like athletics, housing services, parking services, student union corps etc. etc. can sell bonds to finance their undertakings with the university/state as the guarantor.

 :thumbsup:
bears are fast...

Offline KSUBrian

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Re: KU's new basketball dormitory facility
« Reply #64 on: February 14, 2014, 02:34:32 AM »
Okay let's put some numbers to this thing. IIRC, it is $17MM for 66 students. That is $257,500 per student. To repay that at 3.5% over thirty years is $1,156/mo. Add to that utilities and costs to operate and maintain the facility, your talking having to charge around $1,500/mo in rent per student. Add food and misc living expenses to that and it is way more then the average student can afford. Oh wait, I'm sure high $$ donors with kids will be more than willing to shell out that kind of cash so their kids can room with a bball star. So instead of a Compton situation of funneling $$ to his bball roommate, the whole team can have that arrangement. I wonder if the required amount of cash left laying in the room will be based upon who the roommate is?

Offline jtksu

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Re: KU's new basketball dormitory facility
« Reply #65 on: February 14, 2014, 03:21:39 AM »
Okay let's put some numbers to this thing. IIRC, it is $17MM for 66 students. That is $257,500 per student. To repay that at 3.5% over thirty years is $1,156/mo. Add to that utilities and costs to operate and maintain the facility, your talking having to charge around $1,500/mo in rent per student. Add food and misc living expenses to that and it is way more then the average student can afford. Oh wait, I'm sure high $$ donors with kids will be more than willing to shell out that kind of cash so their kids can room with a bball star. So instead of a Compton situation of funneling $$ to his bball roommate, the whole team can have that arrangement. I wonder if the required amount of cash left laying in the room will be based upon who the roommate is?

I assumed the athletes would have separate wings/quarters.    :dunno:

Offline wabash909

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Re: KU's new basketball dormitory facility
« Reply #66 on: February 14, 2014, 07:13:14 AM »
This is correct.


If ku raised all the money privately this would be a rubber stamp, where the Legislature is balking is at the issuance of debt to build a dorm for a select few, mainly athletes. 

Plus the argument that ku basketball makes a lot of money is immaterial, because I doubt ku athletics inc. is going to be the one incurring the debt.   I doubt ku athletics can have their name on it any way in terms of who owns, runs and finances the place, per NCAA rules.

What it sounds to me like is Zulu and Self have a little penis envy going with Kentucky's Coal Wildcat Lodge basketball dorm (100% privately funded) so they're trying to get one built at ku ASAP.

Texas Christian University coach Gary Patterson has been hired as Kansas State's 34th football coach, multiple sources have confirmed to GoPowercat.com.  Patterson replaces Ron Prince, who was fired Wednesday. - Tim Fitzgerald   Nov, 7, 2008

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Re: KU's new basketball dormitory facility
« Reply #67 on: February 14, 2014, 09:14:06 AM »
Guys the athletic department is on the hook for the cost of the scholarships.  So the revenues would be rent payments from the athletic department to the housing services.  Although if I were a housing services credit analyst, I'd take a hard look at the athletic department books before I signed a deal.

Offline Rough Rider

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Re: KU's new basketball dormitory facility
« Reply #68 on: February 14, 2014, 10:19:09 AM »
Beems' ljworld quote said there would be about 600 bedrooms. Should be enough to house all the basketball players' illegitimate children, too!

Offline AbeFroman

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Re: KU's new basketball dormitory facility
« Reply #69 on: February 14, 2014, 10:34:06 AM »
I hope the bathrooms have break-away sinks

Offline sunny_cat

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Re: KU's new basketball dormitory facility
« Reply #70 on: February 14, 2014, 10:35:27 AM »
Beems' ljworld quote said there would be about 600 bedrooms. Should be enough to house all the basketball players' illegitimate children, too!

Shut up

Offline Rough Rider

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Re: KU's new basketball dormitory facility
« Reply #71 on: February 14, 2014, 11:03:40 AM »
Thanks. Didn't mean to GPC the place up.
I think the robot parking garage is what did it in. If I was a legislator, I'd see
600 rooms, about half of which would be paid for by athletic scholarships -OK
11,000 sq ft of retail space, brings in some rent money -OK
Giant claw machine parks residents' cars for them -LOL NO

Offline OregonSmock

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Re: KU's new basketball dormitory facility
« Reply #72 on: February 14, 2014, 11:58:03 AM »
Thanks. Didn't mean to GPC the place up.
I think the robot parking garage is what did it in. If I was a legislator, I'd see
600 rooms, about half of which would be paid for by athletic scholarships -OK
11,000 sq ft of retail space, brings in some rent money -OK
Giant claw machine parks residents' cars for them -LOL NO


You're thinking of the apartments by the football stadium.  That's a separate project from the $17 million, 66-person apartments they're trying to build by AFH.

Offline WildcatNkilt

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Re: KU's new basketball dormitory facility
« Reply #73 on: February 14, 2014, 12:47:35 PM »
Thanks. Didn't mean to GPC the place up.
I think the robot parking garage is what did it in. If I was a legislator, I'd see
600 rooms, about half of which would be paid for by athletic scholarships -OK
11,000 sq ft of retail space, brings in some rent money -OK
Giant claw machine parks residents' cars for them -LOL NO


You're thinking of the apartments by the football stadium.  That's a separate project from the $17 million, 66-person apartments they're trying to build by AFH.

Beems do you like this project?  Would you want private donors to put the money towards a different Athletics Department type project?  I understand if it is a recruiting tool....but you obviously already recruit great (top 5) players without it.  I want your perspective because I feel like you are a guy that would say it's unnecessary if it really is unnecessary.  I also know you are not a KU BB only type of fan and care about KU Athletics as a whole.   
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Offline wabash909

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Re: KU's new basketball dormitory facility
« Reply #74 on: February 14, 2014, 12:56:03 PM »

You're thinking of the apartments by the football stadium.  That's a separate project from the $17 million, 66-person apartments they're trying to build by AFH.

You're right, Beems.  This was for the Ritz Carlton that was supposed to trump the Kentucky basketball player "Lodge" that Self and the KU fans are all butthurt over not having.


Texas Christian University coach Gary Patterson has been hired as Kansas State's 34th football coach, multiple sources have confirmed to GoPowercat.com.  Patterson replaces Ron Prince, who was fired Wednesday. - Tim Fitzgerald   Nov, 7, 2008