CSU’s Multi-Purpose Stadium
Report – December 2016
Construction Budget and Schedule
Budget
Stadium
Fixed Limit of Construction
Construction Management General Contractor
Guaranteed Maximum Price (CMGC GMP)
Other Hard Costs (miscellaneous construction, furniture,
fixtures, equipment, technology, testing, inspections,
utilities)
Design and Professional Services
Owner Contingency
Total Stadium Budget
Contingency Status*
 Project Owner Contingency
 CMGC Bidding Contingency (in CMGC GMP)
 CMGC Construction Contingency (in CMGC
GMP)
$172,701,598
Academic &
Alumni
$14,125,790
$22,372,951
$2,228,932
$17,730,775
$7,533,821
$220,339,145
$1,693,439
$451,839
$18,500,000
Original
$8,462,045
$1,118,380
$5,591,902
Remaining
$7,985,660
$96,970
$2,076,500
*Cost evaluation of project alternated and presented risk ongoing will not exceed remaining
budgets.
Project is currently within budget
Schedule
Substantial Completion Date
June 2017 (stadium), July (A/A)
 Seating benches and metal railing installation ongoing.
 Permanent Power within stadium complete.
 Precast Stadia complete.
 Interior wall installation in progress. CMU walls substantially complete. Drywall, tape,
finish and paint being installed on all levels.
 Extensive Mechanical, Plumbing, Fire Protection and Electrical rough-in installed. Work
is ongoing and will continue through project completion.
 Stadium tower dry-in scheduled for November 2016. Full enclosure anticipated in
February 2017.
 Field Installation to begin December 2016 with anticipated completion in May 2017
Project is currently on schedule
CSU Multi-Purpose Stadium on Main Campus
Less Than One Year to Go: Milestones
December 2016:
Academic & Alumni Dry in; Level 500- Club Level; Level 600- Suite
Level; Level 700- Indoor Club; Field Installation (December 2016 - May
2017); Install Signage & Graphics (December 2016 - February 2017)
January 2017:
Site work (January 2017 - May 2017), Kitchen Equipment Installation
(January 2017 - April 2017)
February 2017:
Enclosure Completion; Functional MEP Systems Testing (February 2017
- May 2017); Punchlist Kick-off- (February 2017)
March 2017:
Install Athletic & Training Equipment (March 2017 – April 2017)
April 2017:
Big Flush (April 4, 2017); Fire Alarm & Life Safety Testing
May 2017:
Punch list certification for Substantial Completion;
June 2017:
Opening of Meridian Ave; Date of Substantial Completion: Stadium
(June 9, 2017); Furniture and Equipment Installation (June - July 2017)
Administrative Closeout and Punch List completion for Stadium Final
Acceptance (June 12, 2017- August 3, 2017); Move-in: All departments
(June – August, 2017)
July 2017:
Date of Substantial Completion: Alumni Center, CASA, Classrooms
August 2017:
Final Acceptance Stadium (August 10, 2017)
September 2017:
Soft Opening Event (Pending September 2, 2017)
First Home Football Game (September 9, 2017)
Stadium Advisory Group (SAG)
Colorado State University and the City of Fort Collins formed a Stadium Advisory Group
(SAG), per the terms of the IGA. The jointly appointed members are:
• Danielle Clark, Executive Director of Communications, PSD
• Gary Buffington, Larimer County Natural Resources Department Director
• Bob Herrfeldt, Director, The Ranch Events Complex
• Steve Taylor, Owner, Hot Corner Concepts
• Per Hogestad, City of FOCO Landmark Preservation Comm. Member and Ret. CSU Architect
• Colin Gerety, Owner, Momo Lolo Coffee House
• Mitch Majeski, Pastor, Summitview Community Church
• Ben Manvel, Former City Councilmember and Retired CSU Professor
• Carol Reed, Sheely Neighborhood Resident
SAG has now completed 12 meetings since October 2015. The most recent meeting was held
November 14, 2016. The meeting began with Doug Wilson with ICON and Fred Haberecht with
CSU Facilities providing an update on the stadium and other construction projects on campus.
Athletics Director Joe Parker and Gary Ozzello, CSU Director of Community Outreach and
Engagement, then facilitated a discussion with SAG members on designing and managing a
grant application process for allocation of the Good Neighbor Fund.
Under the terms of the Intergovernmental Agreement (IGA) between CSU and the City of Fort
Collins, the purpose of Good Neighbor Fund is to support efforts to lessen undesirable or
unanticipated effects on neighborhoods from an on-campus stadium. CSU has committed up to
$37,500 annually to the Good Neighbor Fund to be allocated and disbursed at CSU’s discretion
based on recommendations made by the SAG.
At their October and November meetings, SAG discussed establishing core values to guide the
grant submission and selection process. For example, SAG discussed these possible core values:
1) Community Character – a commitment to uphold and enhance the unique identities of the
neighborhoods and larger Fort Collins communities; 2) Goodwill – a commitment to promote
relationships of trust between adjacent neighborhoods and the CSU community; 3) Responsible
Citizenship – a commitment to positively shape and improve neighborhoods for the benefit of all
residents; 4) Impact – a commitment to offset or mitigate any identified or potential negative
impacts to neighborhoods from an on-campus stadium, and to enhance, strengthen and protect
the beauty, serenity, and security of neighborhoods directly impacted by the stadium; and 5)
Leveraging – a commitment to multiply the impact of the grant by leveraging financial support
of other sources or through collaboration and partnerships, when possible.
SAG also discussed the proposed timeline for accepting and making recommendations to the
CSU Vice President of Operations for prioritizing and allocation of the fund:
 July 1 – November 1, make application available to public
 November 1-30, SAG hears applicant presentations and reviews grant applications
 December – SAG presents it recommendations to CSU and City
 January – Final approval/rejection of grant applications
 January – March – Design and funding request/approval

March – June 30 – Implementation (unless already completed in prior months)
SAG will meet again in January 2017, but will continue (via email) to finalize grant criteria, core
values and an application/selection process, and develop a plan for community outreach for
soliciting grant submissions. Additionally, SAG members will attend internal/external open
houses tentatively planned for January/February to be hosted by CSU and the City to inform the
campus and Fort Collins communities about the final framework for game day operations. At
those open houses, SAG members will discuss the Good Neighbor Fund, the IGA and their
work-to-date on behalf of neighborhoods adjacent to CSU.
Game Day Experience Committee
The university formed a Game Day Experience (GDE) committee operating under Vice
President Blanche Hughes. The jointly appointed co-chairs are: Blanche Hughes, Vice
President for Student Affairs, Tom Milligan, Vice President for External Relations, and Joe
Parker, Athletic Director. Approximately 20 other committee members represent a broad crosssection of university stakeholders including ASCSU, University Advancement, Parking and
Transportation Services, the Faculty, AP and State Classified Employee councils, Athletics,
CSU PD, Facilities, CSU Health Network and Housing and Dining.
The Game Day Experience Committee continues to meet regularly to address the following
topics in preparation for the opening of the on-campus stadium in August 2017:
 Game Day Operations Framework (Parking/Transportation)
 Law Enforcement – CSUPD, Landmark Yellow Jackets
 Tailgating Programming and Marketing
 Logistics for Spirit/Support Groups
 Communications Update – Open Forums with Community and Campus Partners
The Game Day Operations Framework was presented in multiple open forum meetings with
community and campus constituents soliciting feedback and suggestions. This feedback was
incorporated this summer into more detailed executable plans (e.g., specific parking numbers
per lot, final traffic patterns, tailgating policies, location of bike carrels, etc.) and has been
presented at additional public forums during Fall 2016 (including a presentation to student
government, the Deans, Cabinet, and the University Physical Development Committee).
The Committee was asked by Dr. Frank to select a number of universities with on-campus
stadiums to get more detail about their operations and what we can learn from them. A
number of areas on campus (Alumni, External Relations, Student Affairs, Campus Police,
Off-Campus Programs, Athletics, Student Government, New student orientation programs)
contacted their colleagues to get more information focused on tailgating (students, alumni, and
guests), alcohol policies, reparking policies, facilities, safety, and impact on campus
(residence halls, recreation, conferences, etc.). The co-chairs are scheduled to meet in
December to review the results of the survey and share this with the larger committee. This
information will assist in finalizing Game Day events and procedures to be presented for
approval to the Executive Stadium Committee and Dr. Frank by Feb. 1.
IGA (Intergovernmental Agreement) with City of Fort Collins
Twenty-six projects were identified in the original IGA. Since April 2015, fifteen have been built
and or are nearing completion, five are ready for construction or actively under construction, and
six are in the design stage.
The projects not currently complete are scheduled to be delivered late summer or early Fall 2017,
pending funding allocations and desire to move forward with the Lake and Center Avenue
Traffic Management Improvements.
The Shields and Elizabeth Underpass is moving forward. Property acquisitions and entitlements
are in place and the Design-Build team has mobilized to the project site and began construction
activities the last week of November. Concurrently, they will continue to advance the design and
engineering work, ultimately aiming to deliver the project in Fall 2017. Neighborhood outreach
meetings will continue to occur to with the City of Fort Collins and the immediate community
affected by the construction of this improvement.
Hughes Stadium
ICON Venue Group, working on behalf of the University, has acquired and reviewed all existing
information and documentation relating to the Hughes Stadium property. ICON has also
commissioned and completed due diligence reports to evaluate the title, survey, geotechnical and
environmental conditions associated with the property. Currently, ICON is working with
Cameron Gloss, Ft. Collins City Planner, to coordinate communications with the Neighborhood
Organizations proximate to the Hughes Stadium property. Tim Romani with ICON is in direct
contact with the leaders of the respective Neighborhood Organizations and working with the City
on a mailing to adjacent property owners. Neighborhood meetings will be organized and
conducted by ICON and the City starting in January. Also in January, ICON will be assimilating
all of the property information, due diligence reports and neighborhood input to prepare the RFP
document to review with the University for release to potential developers in early March.
Proposals will be received and reviewed in late April. Candidates will be shortlisted and
interviewed in May with a final ranking to be prepared in June.
Stadium: Naming Rights + Sponsorships
toward Pro Forma
100.0%
90.0%
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
1
167.8%
FY18 $
Pro Forma
% Met
Naming Rights
1,060,167
500,000
212.0%
Sponsorships
2,700,000
1,741,162
155.1%
3,760,167
2,241,162
167.8%
*The sponsorship pro forma amount used on this chart is the net amount of sponsorship revenue less sponsorship expense from
the 2012 CSL study. Earlier versions of this chart used the 2012 CSL study gross revenue number for the sponsorship pro forma
amount. The CSL study pro forma also included a sponsorship expense line equal to approximately 50% of gross revenue that
accurately reflected the revenue share contract then in place with Nelligan Sports. CSU’s recent contract extension with Learfield
moved the sponsorship model from a revenue share model to a guaranteed rights fee model. As a result, the full guaranteed
rights payment is comparable to the CSL net number now set forth on this chart as the sponsorship pro forma amount.
Stadium: Naming Rights + Sponsorships
toward CSL High
100.0%
90.0%
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
1
110.6% 73.1%
FY18 $
CSL High
% Met
Naming Rights
1,060,167
750,000
141.4%
Sponsorships
2,700,000
2,650,000
101.9%
3,760,167
3,400,000
110.6%
*The sponsorship CSL High amount used on this chart is the net amount of sponsorship revenue less sponsorship expense from
the 2012 CSL study. Earlier versions of this chart used the 2012 CSL study gross revenue number for the sponsorship CSL High
amount. The CSL study pro forma also included a sponsorship expense line equal to approximately 50% of gross revenue that
accurately reflected the revenue share contract then in place with Nelligan Sports. CSU’s recent contract extension with Learfield
moved the sponsorship model from a revenue share model to a guaranteed rights fee model. As a result, the full guaranteed
rights payment is comparable to the CSL High net number now set forth on this chart as the sponsorship CSL High amount.
Stadium Total: Naming Rights + Sponsorships + Philanthropy
Naming Rights
Sponsorships
Philanthropy
100,000,000
90,000,000
80,900,000
80,000,000
70,000,000
60,000,000
86,400,000
86,400,000
86,975,000
41,600,000
41,600,000
42,175,000
34,400,000
34,400,000
34,400,000
10,400,000
10,400,000
10,400,000
Jul 2016
Sep 2016
Nov 2016
40,300,000
50,000,000
40,000,000
30,000,000
36,000,000
21,000,000
20,000,000
10,000,000
34,400,000
15,000,000
6,200,000
0
Dec 2015
May 2016
*Note: Donations for naming rights for fiscal years 2018-2027 are included in "Naming Rights" total.
Donations for naming rights receivable for fiscal years 2028+ are included in "Philanthropy" total.
The Philanthropy total represents the philanthropic reserve coverage to service the stadium bonds, if needed.
Stadium Total: Naming Rights + Sponsorships + Philanthropy
$86,975,000
Incremental
575,000
36,000,000
44,900,000
Dec 2015
0%
10%
May 2016
Jul/Sep 2016
5,500,000
Nov 2016
*Note: Donations
rights for fiscal
years 2018-2027
20%
30%for naming
40%
50%
60% are included
70% in "Naming
80%Rights" total.
90%
Donations for naming rights receivable for fiscal years 2028+ are included in "Philanthropy" total.
100%
STADIUM PREMIUM SEATING
#'s SOLD OF TOTAL CAPACITY
SUITES
INDOOR CLUB
LOGE
OUTDOOR CLUB
COMBINED
100%
100%
100%
100%
100%
90%
90%
90%
90%
90%
80%
80%
80%
80%
80%
70%
70%
70%
70%
70%
60%
60%
60%
60%
60%
50%
50%
50%
50%
50%
40%
40%
40%
40%
40%
30%
30%
30%
30%
30%
20%
20%
20%
20%
20%
10%
10%
3%
10%
10%
10%
0%
0%
0%
1
100%
Note: One suite held for naming rights partner
1
100%
0%
0%
1
100%
1
100%
100%
1
100%
Income Statement Pro Forma as of November
2015
Revenues
Premium Seat Donations
Priority Seat Donations
Tickets and Parking
Advertising/Sponsorship
Naming Rights
Miscellaneous Revenue
FY 16 Hughes
FY 17 Hughes
FY 18
FY 19
FY 20
FY 16 Hughes
FY 17 Hughes
FY 18
FY 19
FY 20
Total Revenue
Expenses
Salaries and Benefits
Supplies
General Operating Services
Professional Services
Repairs & Maintenance
Utilities
Game-Day Expenses
Total Expenses
Net Income
CSL Feasability Study Low Case 2012
Revenues
Premium Seat Donations
Priority Seat Donations
Tickets and Parking
Advertising/Sponsorship
Naming Rights
Miscellaneous Revenue
Total Revenue
Expenses
Salaries and Benefits
Supplies
General Operating Services
Professional Services
Repairs & Maintenance
Utilities
Game-Day Expenses
Total Expenses
Net Income
Projected Pro Forma Net Income Variance
Versus CSL Feasability Low Case (Line 18-Line
36) Positive (Negative)
Projected Bond Debt Service Coverage
Net Income from Line 18
Contribution to Athletics from CSL Model
Bond Payments
Surplus(Shortfall)
Stadium Donations from CSUF as needed
Net
General Fund Allocation
Philanthropic Coverage
Beginning Reserve Balance
New Funds Raised
Reserve Deployed (= line 42)
Ending Reserve Balance