CSU passes resolution to go ahead with $246 million stadium
FORT COLLINS, Colo — If donors can raise half the funds, there will be an on-campus football stadium at Colorado State University by 2014.
It will be no small task to raise $125 million of the expected $246 million it will cost to build the 42,000-seat stadium, which the school says it will use to replace Hughes Stadium, the current off-campus home for its football program. Then again, many didn’t think the proposal put forth by CSU president Tony Frank would get this far.
The school’s Board of Governors unanimously approved Frank’s resolution Thursday. That plan was announced by Frank on Monday, and it vowed no student fees or tuition money will be used to finance the new stadium.
“At this point, the clearest path that I can envision is the $125 million of philanthropic funds supported by stadium revenue commitments will be able to service $125 million of debt,” Frank wrote in a statement released along with his stadium plan Monday.
The Colorado State University Stadium Advisory Committee has also bestowed its blessing on the project. If the plan comes to fruition, the new stadium would be built on the current site of the Plant Environmental Research Center on Lake Street. That facility would then be moved to university land off Centre Avenue.
The involved parties hope to begin construction in the next two years, with an expected completion date of Oct. 2014 if funds can be raised in time.
All of the support for the new stadium aside, this proposal has not received unanimous support from the community.
Many critics say the stadium will disrupt the current city center in Fort Collins. And a survey conducted by the Associated Students of CSU found that half of the 3,500 students polled disagreed with the idea of CSU building an on-campus stadium, citing concerns about parking and the future of Hughes Stadium.