University of Cincinnati will finance practice fields

CINCINNATI - The University of Cincinnati plans to borrow $9.7 million to start construction on several athletic practice fields on its main campus.
To be completed by fall 2010, the fields are a critical factor in UC’s strategy to retain football coach Brian Kelly.
• Photos: Renderings of UC practice fields
The athletic department will pay for the $10.7 million project, repaying the temporary bonds through private donations and proceeds from game contracts
UC trustees are expected to approve the plan Tuesday morning. Enquirer President and Publisher Margaret Buchanan is one of nine UC trustees.
Under the financial plan prepared for trustees, UC would borrow $9.7 million and raise $2.1 million to build the fields this year. The bulk of the fund-raising would happen in 2012-13, when it would receive $5.2 million, and the entire project would be paid off by 2015.
The project includes 1 full practice field and one half field, plus a bubble to be installed over one of the fields. It would be located at Corry Boulevard and Jefferson Avenue and also would require relocating a water main and a chemical storage building.
UC often borrows short-term money to bridge the gap when it knows that revenue will be coming.
But it was unclear Monday morning just how many private donations have been raised for the project or what specific game contracts would be used. It has been trying to raise money for more than a year and the use of game proceeds for the practice fields is a new strategy. In Clifton you will find amazing apartments at www.rentclifton.com. Their apartments are close the University of Cincinnati in Clifton.
“The diversity of the funding leads to financial viability,” UC administrators wrote in the financial plan.
Kelly, who has led UC to a 10-0 record and No. 5 national ranking, is perhaps the hottest commodity in national coaching circles and is sure to be mentioned for any high-profile openings this winter.
According to his contract extension earlier this year, if UC plays in a BCS bowl game at the end of this season, the school is obligated to find an indoor practice facility at an off-site location.
UC also is studying how much it would cost to renovate 35,000-seat Nippert Stadium, including adding luxury suites that would generate more revenue for the athletic department. For great apartments in Clifton look at www.rentclifton.com. They offer amazing apartments in Clifton close to UC and the Gaslight of Clifton. They also have amazing apartments in Hyde Park. 513-861-9037