Trustees unanimously approve Stadium/Spectrum Bond
Refinancing and continuation of the Stadium/Spectrum Bond took another step toward reality Wednesday.
The Utah State University Board of Trustees voted unanimously during a telephone conference call, approving the proposal that would finance the renovation of portions of Romney Stadium and the Fieldhouse with student fees.
The $9 million bond would appropriate $500,000 to extending the second level of the Fieldhouse and the purchase of new fitness equipment for the area. A total of $7.75 million would be used for projects at the stadium such as installing artificial turf on the field and renovating the press box, and the remainder of the bond would be used to pay off an outstanding debt on the Western Surgery Center.
Approving the extension of the bond comes at a time when the economy is in very good shape, Vice President for Finance and Business Ron Godfrey said.
“We need to seize the moment to capture these dollars,” Godfrey said. “The economic turnaround has been pretty substantial.”
With the majority of money in the bond slated to be used for projects at the stadium, Athletics Director Rance Pugmire said the field of the stadium would be opened up for more student use. The installation of synthetic grass on the field would allow for the field to be used “around the clock,” Pugmire said.
“Realistically it can be used around the clock and get some use out of what is a really good facility more than just on football game day activities,” Pugmire said.
The USU Marching Band, high schools, intramurals and club sports would be able to use the facility, Pugmire said.
Renovation of the press box is also needed because it is not in compliance with ADA (Americans with Disabilities Act) standards and is not seismically sound, USU President Kermit L. Hall said.
Trustee Linda Eyre said she knew there was a need for press box renovation ever since Pugmire took her on a tour of the facility.
“It is so bleak and scary,” Eyre said. “[It’s] almost embarrassing.”
Hall said the facility needs to be brought up to the quality of peer facilities in other schools.
“We need to move on the question of dealing with our facilities in the stadium and the Spectrum as well as the Nelson Fieldhouse in light of our move to the Western Athletic Conference,” Hall said. “We have to put ourselves in the position where the facilities that we have are competitive with those of the other institutions which we will be joining.”
If approved by the Board of Regents and Legislature, the existing Stadium/Spectrum Bond would be refinanced with a requirement for students to use a portion of their fees to pay the bond during the next 20 years. Students currently pay $28.50 a semester toward the existing bond; that amount would remain unchanged.
“We are not asking for the students to pay the whole freight to make this work,” Hall said. “What we’re asking instead is to move the current funding stream we have forward a little bit more efficiently and in doing so put ourselves in a position where we can hopefully close off the other $8-9 million that we need to get ourselves where we need to be.”
Hall said the trustees approval of the bond was a significant step forward for the students and the university.
“I think 10 years from now we’ll all turn around and look at this one and feel good about it,” Hall said.
The Board of Regents will meet and vote on the proposal on Jan. 16 in Salt Lake City.
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