Financing For Arizona State, Colorado State Projects Approved

Sun Devil Stadium renovations "took another significant step" yesterday as the Arizona Board of Regents "approved financing for the first phase of construction," which includes a new student section and infrastructure upgrades. Arizona State officials said that the first phase is being funded by $60M in bonds and $5.7M in private donations, and that "public funds won't be used." The full three-phase renovation is projected to cost $256M (ARIZONA REPUBLIC, 2/6).

Meanwhile, the Colorado State BOG approved plans to finance construction of an on-campus football stadium, "clearing the way for groundbreaking this summer" and a '17 opening. CSU "will issue a variety of bonds" totaling $242M, with a 40-year payback period. The "total cost over the 40 years" will be $451M, the board was told before voting (Ft. Collins COLORADOAN, 2/6).