FSU's Board Of Trustees Approves Request Seeking $100+ Million For Football-Only Facility
Florida State held a groundbreaking ceremony in December for its upcoming Football-Only Facility. Since then, the program has been making steady strides in preparation for the addition.
On Thursday, FSU's Board of Trustees approved a request seeking $100+ million for the Albert J. and Judith A. Dunlap Football Center. The estimated cost for the project currently sits at $138 million.
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According to the document, the project will be funded by an estimated $104.5 million of bonds. The remainder of the cost will be covered by $32.9 million in donations to Florida State and Seminole Boosters. As of February, $28.6 million of the donations have been received with the remaining $4.3 million expected by June 30.
The Seminoles are also projecting additional donations over the coming years to help cover the estimated $114 million of construction costs and $24 million of soft costs to construct the Football-Only Facility.
"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," says 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."
The next step will be getting approval from the Florida Board of Governors during the next meeting on June 21-22. The meeting will be held at the University of South Florida.
Florida State is expected to hurdle that process on its 150,000-square-foot Football-Only Facility. It's anticipated that construction will begin in September 2023 and be completed in July 2025. That fits into the window of 18-24 months of construction that was described by Athletic Director Michael Alford at the groundbreaking ceremony.
The facility will end up benefitting all of Florida State's athletic programs. It will allow for the space that is being vacated in the Moore Athletic Center to be repurposed for the other teams.
Renderings have previously been revealed of the amenities that will be included in the new facility, including a locker room, weight room, walk-through room, hydrotherapy room, offices for the staff, and much more. Its construction is expected to help Florida State stay among the elite in college football.
The sky is the limit for the Seminoles in 2023 and expectations are bubbling up in Tallahassee. Following a ten-win campaign last season, FSU is returning a ton of talent while adding extra juice through the NCAA Transfer Portal.
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