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Center of attention
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— Watson And Tressel training site —
Construction begins on indoor athletic facility thanks to loan from Youngstown State University’s Board of Trustees
By HAROLD GWIN
YOUNGSTOWN
Youngstown State University is betting that it will be able to collect about $1.2 million in money pledged to help build the Watson And Tressel Training Site Center indoor athletic facility on campus.
The university’s Board of Trustees is lending that amount of money to the project so it can be built now and not face any delays awaiting the pledged funds.
Construction is under way and the 125,000-square-foot facility is to be finished by Nov. 30.
The project, which will include a football field, a track, batting cages, training rooms and offices, had an original price tag estimated at $10 million.
Funding was to be evenly split between money borrowed as part of a YSU building and renovation program and philanthropic gifts.
That was later changed to reflect $3 million in gifts and $7 million borrowed, through the sale of bond funds.
However, the price tag didn’t stay at $10 million.
John Hyden, YSU executive director of facilities, said bids on the project came in 10 percent above the engineering estimate.
The bottom line is that the revised project cost reached $11,494,312, resulting in a search for more money.
The university was able to add another $533,000 from the bond fund and tap an intercollegiate athletics fund and other sources for another $250,000 more. That, coupled with some $1.2 million from the athletic facility gifts fund, raised the total funding available to just over $9 million.
Funding was still about $2.5 million short, and the trustees have now addressed that issue, taking action last week to provide that additional money.
Neal McNally, YSU budget director, said that included $1,249,624 transferred from the university’s sick leave fund as a loan to the project, a loan that nearly matches the $1,260,050 in private pledges made for the center that have yet to be paid.
As those pledges come in, the sick leave fund will be repaid.