Land-Use Ruling Could Delay Construction On UO Arena
A land-use decision released yesterday "dealt a serious blow" to the Univ. of Oregon's (UO) $200M basketball arena project, "possibly delaying construction and financing as much as a year," according to Rachel Bachman of the Portland OREGONIAN. An independent hearings official ruled that the arena needs a "conditional-use permit, which requires a public hearing and typically takes four to six months to process." UO officials "had hoped to begin construction late this summer and open the arena in late 2010." Portland-based land-use attorney Steve Pfeiffer said that the "potential for appeals throughout the process could delay the arena's construction for nine months to a year." Bachman notes the sale of $200M in state-backed bonds to finance the arena, tentatively scheduled for June 17, also "could be delayed." The bonds were to be "backstopped, in part, by a $100[M] athletic department reserve fund pledged" to UO by Nike Chair Phil Knight. Knight's pledge required UO to "secure public financing for the arena project by June 1." UO officials have 21 days to appeal the decision. The ruling arrived two days before an "expected victory for the project: votes on the final approval needed from the State Board of Higher Education" (Portland OREGONIAN, 6/5).
 |
| Land-Use Decision May Delay Univ. Of Oregon Basketball Arena |
|
Related Stories By Company
|
Related Stories By Sport
|
What's The Future For Tiger's Brand?
March 19, 2010 :
SportsBusiness Daily
Nike Has 52 Teams In Women's Tourney
March 19, 2010 :
SportsBusiness Daily
Pacquiao Experiencing Rare Crossover Appeal
March 19, 2010 :
SportsBusiness Daily
Nike Q3 Profits Up 104% From Last Year
March 18, 2010 :
SportsBusiness Daily
Nike Worn By 53 Teams In Men's Tournament
March 18, 2010 :
SportsBusiness Daily
|
Favorite College Basketball Teams
March 19, 2010 :
SportsBusiness Daily
CBS' NCAA Tourney Day One Nets 4.6 Overnight
March 19, 2010 :
SportsBusiness Daily
MMOD Receives Generally High Marks
March 19, 2010 :
SportsBusiness Daily
Capital One Launches New Viral Campaign
March 19, 2010 :
SportsBusiness Daily
Nike Has 52 Teams In Women's Tourney
March 19, 2010 :
SportsBusiness Daily
|
|