2008 Woodie Awards
Stadium still needs funding
Adam Gruenewald
Issue date: 10/31/07 Section: News
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The construction of the new stadium is not scheduled to begin until the summer of 2008, yet UW-L Foundation members are working hard to get pledges and raise funds.
February 1st is the crucial deadline where all funds must be raised because that will be the day that UW-L will begin taking bids for contractors and will need to have $15.6 million raised.
According to UW-L Chancellor Joe Gow the total funds raised amount to $10.2 million so $5.4 million has to be raised over the course of the next four months.
"We need those funds if we are going to move ahead on schedule," said Gow.
If those funds are not raised before the deadline, the project may be delayed, which would raise the overall cost of the project, or the project would be built with the available funds, which might eliminate some of the project's aims.
"I am not going to support borrowing several million dollars that have not been pledged," said Gow.
According to the Vice President of the Alumni Foundation, the athletic complex is part of a foundation campaign which includes five other priorities.
The campaign also includes student scholarships, grant programs, faculty awards, an annual fund for the university, and the academic building.
At this point, it seems unlikely that the project will not proceed as scheduled because of the recent support from the county, and the cities of Onalaska and La Crosse.
Recently Development Officer Mike Desmond has had meetings with several county and city officials regarding receiving outside funds from the city through a 1% hotel room tax and a sales tax.
"It's a huge business generator for hotels so why not ask for money from them," said Gow.
According to Desmond the Foundation has a verbal commitment from the city of Onalaska for $250,000, which would come from a hotel tax.
"We're very optimistic that the room tax will be improved within the next month," said Desmond.
They are also working with the city of La Crosse for a similar 1% increase on hotel tax, which would raise $500,000 over a 5-year process.
February 1st is the crucial deadline where all funds must be raised because that will be the day that UW-L will begin taking bids for contractors and will need to have $15.6 million raised.
According to UW-L Chancellor Joe Gow the total funds raised amount to $10.2 million so $5.4 million has to be raised over the course of the next four months.
"We need those funds if we are going to move ahead on schedule," said Gow.
If those funds are not raised before the deadline, the project may be delayed, which would raise the overall cost of the project, or the project would be built with the available funds, which might eliminate some of the project's aims.
"I am not going to support borrowing several million dollars that have not been pledged," said Gow.
According to the Vice President of the Alumni Foundation, the athletic complex is part of a foundation campaign which includes five other priorities.
The campaign also includes student scholarships, grant programs, faculty awards, an annual fund for the university, and the academic building.
At this point, it seems unlikely that the project will not proceed as scheduled because of the recent support from the county, and the cities of Onalaska and La Crosse.
Recently Development Officer Mike Desmond has had meetings with several county and city officials regarding receiving outside funds from the city through a 1% hotel room tax and a sales tax.
"It's a huge business generator for hotels so why not ask for money from them," said Gow.
According to Desmond the Foundation has a verbal commitment from the city of Onalaska for $250,000, which would come from a hotel tax.
"We're very optimistic that the room tax will be improved within the next month," said Desmond.
They are also working with the city of La Crosse for a similar 1% increase on hotel tax, which would raise $500,000 over a 5-year process.
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