Jerry Kill continues to have full confidence that the University of Minnesota will be ready to break ground on its new $150 athletic facilities project in August.

“I expect [the shovel] to be in the ground during two-a-day camp,” Kill said Friday. “That’s what I’ve said all along, and I expect that to happen. … I’ve told the recruits, and so it needs to get done.”

University CFO Richard Pfutzenreuter said last week that as with any university project, at least 80 percent of the money ($120 million) must be raised before construction can begin. Athletics Director Norwood Teague said $70 million has been raised thus far.

A Board of Regents document released last week states that a complete financing plan must be ready for approval at the June 11-12 Regents meeting in order to begin construction by October.

“I think when the board finalizes it in June, they should be able to get going immediately,” Kill said. “I don’t know the 80 percent rule, 70 percent rule, 90 percent rule -- that’s their job to figure all that out. They know we need to get it started in August.”

This week, the Board of Regents approved using $15 million of the money already raised for the project’s schematic design.
“That’s tremendous,” Kill said. “Right there, that tells you. Once you do that, things move pretty fast.”

 

Source:http://www.startribune.com

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