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Editor [∞]
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Clemson on tennis facility proposal rejected
May 14, 2017, 11:40 PM
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CLEMSON — Clemson University is disappointed in the decision by the state Commission on Higher Education’s Finance and Facilities Committee to not recommend a new on-campus tennis center that would have been completely funded without the use of taxpayer funds or student tuition revenue.
The university presented a strong proposal to fund this project — which will be used by our student-athletes, the student body and the community — with $12.5 million in athletic revenue bonds. These bonds would be repaid using solely athletic revenues, which are privately generated. Clemson is the only university among the “Power 5” athletic conferences to neither charge admission to students for athletic events nor assess a student fee for athletics.
This financing plan was thoughtfully developed and thoroughly vetted by the university’s board of trustees. It would allow the facility to be built without any financial impact to the state or Clemson students and would provide important investment flexibility for the university.
As part of its comprehensive financial and capital plans, Clemson strategically balances its cash and debt financing of capital projects, with different projects requiring different approaches. For example, Clemson’s last two approved athletics projects — the Reeves Football Operations Complex and the IPTAY Center — were funded 70 percent with cash, totaling $45.5 million.
Given today’s strong investment climate the university felt the most appropriate course of action was to finance the full cost of the tennis project and invest its cash in a manner where greater returns are to be expected. Clemson’s financial strength, and the excellence of its financial management and oversight by the board of trustees, is demonstrated by Clemson’s historically high credit rating, which is among the strongest in the country.
Clemson remains committed to maintaining its standing as one of the nation’s premiere universities as evidenced by its ranking as the 23rd best public university in the country by U.S.News & World Report and among the 25 best values in public higher education by Kiplinger’s Personal Finance. As part of that ongoing commitment to excellence, the university will continue to work to move this well-planned and important project forward.
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CU Guru [1149]
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Re: Clemson on tennis facility proposal rejected
May 15, 2017, 12:26 AM
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So wait 2 months and try again
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Legend [17497]
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Re: Clemson on tennis facility proposal rejected
May 15, 2017, 1:56 PM
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With a different funding proposal. I'm sure the debt funding had something to do with it.
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110%er [7720]
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TL;DR... tennis?
May 15, 2017, 1:32 AM
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Do we actually spend money on tennis?
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Starter [394]
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Apparently not, but if we are going to have a team we should
May 15, 2017, 11:34 AM
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spend some money to at least be on par with our competitors. If you're gonna do it, do it right.
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CU Guru [1906]
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Re: Clemson on tennis facility proposal rejected
May 15, 2017, 8:07 AM
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Does anyone else see the absurdity here? The CHE wants to deny approval to Clemson University to build a tennis center with NO tax money and NO student money involved. Really?
Message was edited by: Tiger Nana®
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110%er [9298]
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T I P ain't gonna like this***
May 15, 2017, 8:15 AM
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Hall of Famer [24294]
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you're #### right I'm not gonna like this
May 15, 2017, 10:44 AM
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These proposals have been in the works since 2010! They were supposed to be completed by 2013 and it kept getting pushed back and back.
Meanwhile every other sport has had some kind of upgrade. Golf, basketball, soccer, rowing etc etc. While tennis continues to play in the worts indoor facility in the ACC and by far have the worst locker rooms of any Clemson team. If anyone here has seen the tennis locker rooms you know what I'm talking about. It's basically 1 room with lockers crammed next to each other and a 1 stall bathroom next to it. It acts was as a storage shed as well as a locker room. It's the 1980s at best.
The programs continue to slip, with the men's team missing the postseason every season now and becoming one of the ACC bottom feeders.
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110%er [5708]
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Re: T I P ain't gonna like this***
May 15, 2017, 10:47 AM
[ in reply to T I P ain't gonna like this*** ] |
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We gonna have to set up some anger management classes for TIP soon.
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Hall of Famer [22965]
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The names of every person on that state finance committee
May 15, 2017, 11:40 AM
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should be made public.....and the Clemson folks responsible for submitting the proposal should initiate plans immediately to re-submit
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Hall of Famer [24294]
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absolutely***
May 15, 2017, 1:31 PM
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CU Medallion [60049]
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Letterman [284]
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All-TigerNet [13054]
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So we have 100% of the funds, no tax payer impact
May 15, 2017, 1:52 PM
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but, yet, we can't build something on our own property. How is that possible?
I mean,.....What The actual F@&? !!!
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Replies: 13
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