Florida State Board of Trustees signs off on request for football center funding
The Florida State Board of Trustees signed off Thursday on a request seeking more than $100 million in financing for the school’s new standalone football facility, the Albert J. and Judith A. Dunlap Football Center.
The 150,000-square-foot facility should be complete by July 2025 with an estimated life of the facility of 50 years.
It is expected to get approval from the Florida Board of Governors during its meeting June 21-22 at the University of South Florida.
FSU would then be able to start the project process in September.
The estimation for the project is now at $138 million.
Additional information shows FSU has already received $28.6 million in donations for the project as of February and another $4.3 million is expected by June 30, 2023.
“FSU anticipates receiving additional donations in Fiscal Years 2024 through 2028, totaling $22.1 million which is expected to be pledged to pay debt service on the Bonds,” it was written in the document.
“Finally, FSU expects to receive $5.8 million in Project donations in Fiscal Years 2029 through 2032. These donations will be available to pay debt service on the Bonds but will not secure the debt.”
FSU broke ground on the project in December with an estimated cost of approximately $100 million and an expectation for construction to be completed in 18-24 months.
Maryland moved into a $149 million football facility last year with hopes of boosting Mike Locksley's recruiting.
— Stewart Mandel (@slmandel) June 15, 2023
Bad timing, though: NIL happened.
"They’d get dressed in the trash can for $25,000."https://t.co/ru6KAggTTW
Oh wow... the new USC football building, 2nd practice field, and new baseball stadium are going to be AWESOME! #FightOn✌️ https://t.co/KOZ3YCNQkL
— Tony Altimore (@TJAltimore) June 15, 2023
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