FAU Faculty Senate President Timothy Lenz (left) congratulates Sr. Vice President for Strategic Relations and General Counsel David Kian after the financing plan for FAU's on-campus football stadium was approved Wednesday. (FAUOwlAccess.com photo)
A solid deal
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Analysis: The key to having the FAU Board of Trustees approve the financing plan for the on-campus football stadium was showing the trustees the finances were in order.
Originally published on
7/22/2010
by
Marcus Nelson
BOCA RATON – Even with the enthusiasm to build Florida Atlantic’s proposed on-campus stadium, the financial numbers had to work for the Board of Trustees to approve the $70 million project on Wednesday.
But when FAU Sr. Vice President for Strategic Relations and General Counsel David Kian and Interim Sr. Vice President for Finance and Administration Dennis Crudele presented their projections for expected revenue and expenses using the most conservative of estimates, the board liked what they heard and voted unanimously to approve the stadium financing plan.
For instance, the proposal included only a modest increase from current attendance to determine football ticket sales - the biggest source of revenue for the stadium.
The proposal calculated ticket sales for around a crowd of 12,000 with slight increases each year and the numbers worked with ticket ...
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