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RE: Union Bank & Trust Center Webcam - Longhorn - 12-23-2018 07:51 PM
(12-23-2018 04:57 PM)Dukeman2 Wrote: Why would JMU use tax payer money to fund a 8500 seat arena when attendance is at a 30 year low?
There is no taxpayer money involved in building the new arena.
The size (seating) can be debated, but funding for the project is financed without funds from the General Assembly.
RE: Union Bank & Trust Center Webcam - 91Alum - 12-23-2018 11:11 PM
(12-23-2018 07:51 PM)Longhorn Wrote:(12-23-2018 04:57 PM)Dukeman2 Wrote: Why would JMU use tax payer money to fund a 8500 seat arena when attendance is at a 30 year low?
There is no taxpayer money involved in building the new arena.
The size (seating) can be debated, but funding for the project is financed without funds from the General Assembly.
OK. This "General Assembly" thing sounds like semantics. We did not raise $80M for the arena with private funds. Where did the money come from?
RE: Union Bank & Trust Center Webcam - bjk3047 - 12-24-2018 12:36 AM
(12-23-2018 11:11 PM)91Alum Wrote: OK. This "General Assembly" thing sounds like semantics. We did not raise $80M for the arena with private funds. Where did the money come from?
"With the Union Bank & Trust partnership, the university has reached its initial $12 million commitment goal in order to proceed with construction plans. However, individual and corporate fundraising for the project continues in order for it to reach successful completion with all of the outlined amenities."
https://jmusports.com/news/2017/10/13/union-bank-trust-center.aspx
RE: Union Bank & Trust Center Webcam - Longhorn - 12-24-2018 03:02 AM
(12-23-2018 11:11 PM)91Alum Wrote:(12-23-2018 07:51 PM)Longhorn Wrote:(12-23-2018 04:57 PM)Dukeman2 Wrote: Why would JMU use tax payer money to fund a 8500 seat arena when attendance is at a 30 year low?
There is no taxpayer money involved in building the new arena.
The size (seating) can be debated, but funding for the project is financed without funds from the General Assembly.
OK. This "General Assembly" thing sounds like semantics. We did not raise $80M for the arena with private funds. Where did the money come from?
Not “semantics”. Tax dollars come through the appropriation process by the General Assembly. There are no appropriated tax dollars used to build the arena.
The bulk of construction money for the arena comes from bonds, not tax dollars. I say “bulk” only because JMU set a goal of $12 million in gift money to help defray the amount of bonds needed to build.
To be clear, as per VA law, the General Assembly must approve all bonds issued by state agencies, but the bonds will be repaid by the university using revenue collected from student fees and other monies generated by the arena. Again, no tax dollars are used to repay the bonds. It’s the exact same funding process by which the football stadium was built, or any other auxiliary, non-academic building on campus (such as dorms and parking garages) are built.
Union Bank & Trust Center Webcam - Potomac - 12-24-2018 07:29 AM
The voluntary ignorance of posters on here related to our facilities funding is just pathetic.
Make an effort to inform yourself or just stop talking. It’s almost like they have an agenda they’re trying to push. Facts be damned.
RE: Union Bank & Trust Center Webcam - JMUNation - 12-24-2018 08:52 AM
(12-24-2018 07:29 AM)Potomac Wrote: The voluntary ignorance of posters on here related to our facilities funding is just pathetic.
Make an effort to inform yourself or just stop talking. It’s almost like they have an agenda they’re trying to push. Facts be damned.
Dukeman knows better. He is just trying to rile folks up. He is a pro at this. Rarely is there anything of value in his posts.
Union Bank & Trust Center Webcam - JMUDunk - 12-25-2018 11:15 AM
(12-23-2018 11:11 PM)91Alum Wrote:(12-23-2018 07:51 PM)Longhorn Wrote:(12-23-2018 04:57 PM)Dukeman2 Wrote: Why would JMU use tax payer money to fund a 8500 seat arena when attendance is at a 30 year low?
There is no taxpayer money involved in building the new arena.
The size (seating) can be debated, but funding for the project is financed without funds from the General Assembly.
OK. This "General Assembly" thing sounds like semantics. We did not raise $80M for the arena with private funds. Where did the money come from?
I’m guessing in some part “student fees” which of course are aka student loans funded by taxpayers.
You know we now have an indoor “lazy river”, too? Not seeing a lot of”private funding” there either...
RE: Union Bank & Trust Center Webcam - Longhorn - 12-25-2018 04:58 PM
(12-25-2018 11:15 AM)JMUDunk Wrote:(12-23-2018 11:11 PM)91Alum Wrote:(12-23-2018 07:51 PM)Longhorn Wrote:(12-23-2018 04:57 PM)Dukeman2 Wrote: Why would JMU use tax payer money to fund a 8500 seat arena when attendance is at a 30 year low?
There is no taxpayer money involved in building the new arena.
The size (seating) can be debated, but funding for the project is financed without funds from the General Assembly.
OK. This "General Assembly" thing sounds like semantics. We did not raise $80M for the arena with private funds. Where did the money come from?
I’m guessing in some part “student fees” which of course are aka student loans funded by taxpayers.
You know we now have an indoor “lazy river”, too? Not seeing a lot of”private funding” there either...
Loans are not taxpayer funded. I don’t know what part of “student” and “loan” you’re not comprehending, however, individuals who take out a loan are responsible for paying it back, and neither JMU or the Commonwealth underwrite loans. No tax money is involved.
And yes, there’s a “lazy river” in the expanded Rec Center Pool area. And your point is? Current students have it good, and/or are spoiled? Yep. No argument from me.
The Rec Center project, however, never involved “private funding” in much the same way building new dorms and parking decks have not involved the need for private funding. (By the way the new dorms all have AC and indoor plumbing too. Darn soft students!
). The Rec Center, the “Sentara Park” intramural fields, dorms, etc. are all auxilliary, “bonded” projects whose bonds are ultimately paid for by the people who use them. Again, tax money isnt involved.
Union Bank & Trust Center Webcam - Potomac - 12-25-2018 07:36 PM
Yeah, I had to tell myself to lay off the “student loans are tax payer money” comment. It’s just not worth it.
RE: Union Bank & Trust Center Webcam - Deez Nuts - 12-26-2018 08:19 AM
(12-25-2018 11:15 AM)JMUDunk Wrote:(12-23-2018 11:11 PM)91Alum Wrote:(12-23-2018 07:51 PM)Longhorn Wrote:(12-23-2018 04:57 PM)Dukeman2 Wrote: Why would JMU use tax payer money to fund a 8500 seat arena when attendance is at a 30 year low?
There is no taxpayer money involved in building the new arena.
The size (seating) can be debated, but funding for the project is financed without funds from the General Assembly.
OK. This "General Assembly" thing sounds like semantics. We did not raise $80M for the arena with private funds. Where did the money come from?
I’m guessing in some part “student fees” which of course are aka student loans funded by taxpayers.
You know we now have an indoor “lazy river”, too? Not seeing a lot of”private funding” there either...
I'd hardly call a straight 20-foot section of jetted pool that the staff at UREC calls a "fitness channel", designed for people to workout against a current, a "lazy river".
RE: Union Bank & Trust Center Webcam - Dukeman2 - 12-26-2018 08:33 AM
Virginia State guaranteed debt requires a cost of capital that is funded with tax payer money.
Does servicing the debt with student fees make any sense given basketball attendance is at a historic low and JMU already has the highest student fees in the country?
RE: Union Bank & Trust Center Webcam - Longhorn - 12-26-2018 09:46 AM
(12-26-2018 08:33 AM)Dukeman2 Wrote: Virginia State guaranteed debt requires a cost of capital that is funded with tax payer money.
Does servicing the debt with student fees make any sense given basketball attendance is at a historic low and JMU already has the highest student fees in the country?
You just won't give up will you?
All bonds are guaranteed by the Commonwealth, it's why all building projects must be approved by the General Assembly.
That said, have you ever known an approved project at JMU to default on a bond payment and require the Commonwealth to pay up? I'll save you the time in researching my question. The answer is no. Hence no taxpayer money has paid for any auxiliary construction project at JMU.
RE: Union Bank & Trust Center Webcam - JMad03 - 12-26-2018 11:40 AM
At least you answered your own question. The trollbot certainly wasn't going to answer it.
I admit I didn't understand how the funding worked, so I didn't even bother to butt my head in the debate. I understand better than I did before so thanks for that.
RE: Union Bank & Trust Center Webcam - Deez Nuts - 01-03-2019 11:38 AM
Photo album update 3 weeks ago
https://jmusports.com/galleries/?gallery=6768
RE: Union Bank & Trust Center Webcam - JMad03 - 01-03-2019 12:12 PM
Sorry if this was already asked, but...
I see that they had to dig pretty deep around to build. Is that part of the center they are currently building going to be underground? If so, I had no idea that much of the new UB&T was going to be built that much underground.
RE: Union Bank & Trust Center Webcam - BleedingPurple - 01-03-2019 12:31 PM
(01-03-2019 12:12 PM)JMad03 Wrote: Sorry if this was already asked, but...
I see that they had to dig pretty deep around to build. Is that part of the center they are currently building going to be underground? If so, I had no idea that much of the new UB&T was going to be built that much underground.
Most event centers/arenas etc. have loading docks underneath. This has been a major problem with the current Convo, there's not easy egress for anything much more than a basketball game.
RE: Union Bank & Trust Center Webcam - jmufan2008 - 01-03-2019 01:28 PM
(01-03-2019 12:31 PM)BleedingPurple Wrote:(01-03-2019 12:12 PM)JMad03 Wrote: Sorry if this was already asked, but...
I see that they had to dig pretty deep around to build. Is that part of the center they are currently building going to be underground? If so, I had no idea that much of the new UB&T was going to be built that much underground.
Most event centers/arenas etc. have loading docks underneath. This has been a major problem with the current Convo, there's not easy egress for anything much more than a basketball game.
This. It may not seem important if you've never seen the work that goes into putting on a concert in the Convo, but it's ridiculous. I'm assuming they would with the new center, but if they have a loading dock at trailer level that rolls straight from the trailer at main floor level...oh man. The hours that UPB students have spent carrying freakin equipment up and down that stupid ramp (and up and down the ramp from the trailer)...along with lowering carts of equipment down the ramp with a forklift and chain...
RE: Union Bank & Trust Center Webcam - Deez Nuts - 01-03-2019 02:38 PM
I haven't seen plans, but I imagine the "underbelly" of the arena's ground floor "concourses" will consist of locker rooms, storage storage storage (you'd be surprised how little storage there is in the current convo... game equipment, band instruments, marketing materials, etc. ) conference areas, etc. I think the practice facility and coaches offices will be on the Costco corner of the building, and loading docs on the arboretum "corner" of the building.
RE: Union Bank & Trust Center Webcam - AssyrianDuke - 01-04-2019 10:08 AM
Does this mean we can get more/bigger artists to play in Harrisonburg? The only artist of note that I know played in Hburg was Common, and that was 2006 or 07.
RE: Union Bank & Trust Center Webcam - JacksonHall - 01-04-2019 10:35 AM
Where the money came from doesn't matter to me. But as with all capital projects, they need to be sure there is money for the programming and promoting it. I just don't see a lot of money being assigned toward the basketball programs. And they went on the cheap with the men's basketball head coach. The building is going to be a ghost town.