Some more.
Why Renovate?
As a NCAA Division I-A institution and a member of the Big Ten Conference, the University of Iowa Athletic Department maintains a top-notch collegiate football program.
The Hawkeye football team attracts more than 400,000 fans, alumni and University of Iowa supporters to Kinnick Stadium each year. The football program and its athletes serve as a symbol for the University. Saturdays at Kinnick Stadium serve as an epicenter, not only for student life on campus, but also for many throughout the state.
As such, Kinnick Stadium itself must remain a facility that is safe and comfortable. And despite its age of 75 years, it must also create a place that makes the game day experience for visitors enjoyable while presenting our commitment to excellence to Hawkeye fans as well as the visitors from other schools.
The mission statement for the University of Iowa Athletic Department reads:
The mission of the Department of Intercollegiate Athletics is to provide the administrative and coaching support, facilities, resources and equipment necessary for student-athletes to graduate from the University of Iowa while participating in broad-based championship-caliber athletic competition. The overall well-being of the participant and the integrity of the program will be paramount in all that we do.
The University's commitment to providing opportunities for success to its student-athletes, regardless of the sport, rests predominantly with the largest and highest revenue-generating program: football. A Kinnick Stadium project that corrects the many long-standing deferred maintenance issues and addresses current facility shortcomings will ensure a long-term commitment to the success of our student-athletes and the financial stability of the Department of Intercollegiate Athletics.
Over the past decade the University has implemented increasingly significant maintenance procedures to ensure the ongoing function of Kinnick Stadium. These measures are quickly becoming more expensive and less effective. This is particularly true of the tubular steel and wood structure which comprises the south end zone seating complex. While still safe, the complex is becoming less serviceable each year and is approaching the end of its effective life. This complex seats nearly 15,000 Kinnick Stadium patrons and accounts in excess of $3 million in revenue annually.
Additionally, many parts of the 75-year-old stadium are in need of refurbishment or updating. Kinnick Stadium is well below current standards for concession and rest room facilities and almost all of the stadium infrastructure is original. The cost to construct a new south end complex and to upgrade the required support facilities throughout the venue is far more than what Department revenues can assume.
The typical manner of funding for such renovations is through revenue bonds retired by the development of premium amenities, specifically private suites and club seating. To provide for such amenities, it is our plan to replace our outdated press box and construct a new modern facility. This facility combined with several smaller funding sources will generate the revenue to fund all phases of the project.
Our University believes that the renovation of historic Kinnick Stadium offers the best long-term option for supporting the multitude of constituent groups that have a stake in this venue. The plan is financially pragmatic, retains the traditions and ambience of a grand venue and state icon, and provides safe and comfortable access for millions of visitors to the University over the coming decades.
Robert A. Bowlsby
Director of Athletics
Project Participants
Steering Committee
Co-Leader: Bob Bowlsby
Co-Leader: Doug True
Members: Terry Johnson, Rod Lehnertz, Jane Meyer
Staff for steering committee: Mark Abbott, Ted Yanacek
Architecture/Engineering/Construction
Lead: Rod Lehnertz
Members: Mark Abbott, Hugh Barry, Don Guckert, Paula Jantz, Jane Meyer, Dave Ricketts
Consultants: Neumann-Monson Architects, Iowa City, Iowa; HNTB Iowa Inc., Kansas City, Mo.; Mortenson Company, Minneapolis, Minn.
Financial Planning/Revenue and Expense Projections
Lead: Terry Johnson
Members: Mike Finnegan, Drew Ives, Mark Jennings, Jane Meyer, Marc Mills, Robert Payne, Tiffani Shaw, Michael Walker
Consultants: Ahlers Law Firm; Springsted, Inc.; Phelan Law Firm; Grenzebach, Glier and Associates, Chicago, Ill.; CLS International, Plano, Texas
Programming
Lead: Jane Meyer
Members: Mark Abbott, Ned Amendola, Bill Dervrich, Mike Finnegan, Phil Haddy, Paula Jantz, Mark Jennings, Rod Lehnertz, Andy Piro, David Sandstrum
Consultants: Grenzebach, Glier and Associates, Chicago, Ill.; Neumann-Monson Architects, Iowa City, Iowa; HNTB Iowa Inc., Kansas City, Mo.
Master Plan Overview
Kinnick Stadium was built in 1929. Seventy-five years later it remains an icon on the University of Iowa campus and serves as a symbol for the University for many of the more than 400,000 visitors and fans of the Iowa Hawkeyes that pass through its gates each year. The planning for renovations to Kinnick Stadium is based on several objectives and needs:
* Maintain and increase safety for both fans and student-athletes
* Improve access and egress for all fans and student-athletes
* Achieve an acceptable level of service and comfort for fans
* Provide a game-day experience that encourages fans and University of Iowa supports to return
* Respect the history and architecture of Kinnick Stadium
* Improve functional and visual experiences for both game-day and non-game-day activities
* Improve design of the site to better represent a major entry point to the University of Iowa campus
* Fund the project through a combination of revenues gained from improved stadium spaces and by donations from supports of the University of Iowa football program
In planning for the successful completion of a project of this magnitude and scope, the University of Iowa has partnered with the design consultant team of Neumann-Monson Architects of Iowa City and nationally-renowned stadium and sports facility designer, HNTB of Kansas City, Mo.
In coordination with early programming and concept design efforts, the University hired two complementary firms to assist in creating a solid financial plan that will provide the dollars needed to accomplish this important project. Martin Grenzebach, chair of Grenzebach, Glier and Associates, a Chicago firm that has maintained a long and successful record of market studies and business plans for the University and the UI Foundation, was retained to establish initial market research through interviews and data gathering.
The University also engaged Conventions, Sports and Leisure International (CSL) of Plano, Texas, a firm widely recognized for its expertise in developing business plans for major sports facilities. Jay Lenhardt, the principal with CSL working on the Kinnick Stadium project, recently completed a successful remodeling project at Purdue University's Ross-Ade Stadium. Together, these firms have compiled detailed marketing and business research that is serving as the basis for the financial plan supporting the scope of the project.
Additionally, the University has established a partnership with the construction management firm, Mortenson Company of Minneapolis, Minn. Selected by the University and approved by the Board of Regents, based on its experience and expertise in large-scale sports facilities, Mortenson is supporting the University by reviewing the constructability of the design, and providing cost estimating and construction scheduling services. Mortenson will work with the design team to create construction packages that will ensure that the project will not interfere with the football seasons and will maximize participation by Iowa-based construction firms.
For the project to be accomplished and avoid disruption of the operation of Kinnick Stadium during the football seasons, the major components of the project will be broken into separate phases. While construction work will continue through the football seasons, packages will be arranged to avoid disruptions of activities during home football games. Major and disruptive work will be timed to begin as soon as one season ends and completed before the next season begins. To accomplish this and to encourage maximum participation by Iowa-based construction firms, the project will be divided into 20 to 30 separate construction packages, all phases to optimize productivity and on-site coordination.
The construction packages for this project will be organized according to the following components:
# Stadium rehabilitation and long-range stewardship
# Revenue-generating facility (press box)
# Stadium surroundings
Representatives of the University of Iowa visited, contacted or evaluated the following peer university stadium renovation projects:
# Purdue University
# University of Wisconsin
# University of Virginia
# University of South Carolina
# The Ohio State University
# Michigan State University
# University of Texas
# Texas A&M University
# Penn State University
Project Phases/Timelines
The project will be delivered - through a combination of 20 to 30 construction packages - in two major phases. Packages related to the initial phase will be bid to allow construction to begin as soon as the 2004 home football schedule is completed. The work associated with the first phase will include:
* South end zone replacement
* Removal of Klotz Tennis Courts (to be rebuilt in new location off Mormon Trek Boulevard)
* South concourse work
* Initial foundation and construction work for the future press box
* Initial south plaza site work
* Initial Lot 43 replacement and campus utility work
Work related to the first phase will be completed in order to host football games as scheduled for the 2005 football season. Any work that continues during the 2005 season will be scheduled so that no interruptions in game-day activities occur.
The second phase of the project will be bid prior to the 2005 season and construction work for this phase will begin as soon as the 2005 home football season is completed. The second phase work will include:
* Demolition and reconstruction of the existing press box
* West concourse renovation
* East concourse renovation
* Completion of Lot 43 replacement
* Completion of south plaza construction and site work
The construction staging for the project will be limited to the area south of Kinnick Stadium (the previous location of Klotz Tennis Courts) and immediately west of the west grandstand. Completion of Lot 43 replacement work will be tied to the completion of the press box.
Financial Plan
As described in the master plan and programming statements for this project, renovation improvements to Kinnick Stadium are envisioned to include the replacement of the south end zone seating area and construction of a new press box on the west sideline.
The south end zone structure must be replaced before the current scaffolding support system reaches the end of its useful life. A new press box will be constructed to accommodate the demand for premium seating and to provide a source for new revenue streams that will be necessary to meet the debt service requirements on bonds sold to finance the project.
In addition, the overall game-day experience will be enhanced for all fans by improving access and circulation in and around the stadium, updating and increasing the number of restrooms and the number of concessions stands, improving handicap accessibility, and providing other important general aesthetic improvements.
Preliminary cost estimates for this project made earlier ranged from $75 million to $96 million. Realizing the magnitude of this project, the University approached the UI Foundation to undertake a study to estimate the amount of funds that could be raised to support the Kinnick Stadium renovation. The UI Foundation hired Martin Grenzebach from the firm of Grenzebach, Glier and Associates to evaluate the recent donations history of the UI Department of Athletics and the potential for future philanthropic support for improvements to Kinnick Stadium.
In this process, Grenzebach conducted personal interviews with several of the UI Athletic Department's top donors. Grenzebach, Glier and Associates, in conjunction with CSL, also conducted a random telephone survey to gauge the interest in premium seating at a renovated Kinnick Stadium. Grenzebach has worked on similar studies for the University and the UI Foundation over the last 25 years including the Carver-Hawkeye Arena capital campaign. The services of his firm are widely used by universities across the nation.
Given the complexity and scope of this project, the University acknowledged early in the process the need to employ a consultant who was an expert at performing market analysis of the demand for premium seating options contemplated in the design of a larger press box area. A Request for Qualifications for this work was prepared culminating in the selection of the consulting firm, Conventions, Sports and Leisure International (CSL), to perform the marketing and financial feasibility analysis for this project. Jay Lenhardt is the principal with the firm who is working directly with the University. He also was the principal on the recently-completed renovation of Ross-Ade Stadium at Purdue University, a project that was very similar in scope to the UI's vision for Kinnick Stadium.
CSL has worked with many college and universities throughout the country on stadium and arena renovation projects. CSL is currently working with the University of Wisconsin, Michigan State University, and the University of Minnesota on analyses related to renovating or building new football stadiums at these campuses. A critical part of CSL's work is to collaborate with Grenzebach, Glier and Associates in the evaluation of revenue potential from the remodeled Kinnick Stadium. Analysis by CSL will include survey work of UI football patrons and evaluation of UI premium seating potential based on experiences at other universities.
The renovation of Kinnick Stadium is proposed to be accomplished in two phases. Phase 1 will begin immediately after the fall 2004 football season with the demolition and reconstruction of the south end zone seating. This work will be completed by August 2005. Phase 2 will begin immediately after the fall 2005 season with the demolition and replacement of the press box pavilion. This work will be completed by August 2006. To meet this aggressive construction schedule the University must issue bonds to finance the project. Anticipated bond sales would extend from January 2005 until September 2006.
Projected Cost
$86,800,000
Bond Issue Size
$95,000,000 - $100,000,000
The Board of Regents financial advisor, Springsted, Inc., is preparing a number of debt service schedules that will match cash flow needs for the project. It is assumed that each bond issue would have 25 principal payments.
Revenue to cover debt service will come from the following sources:
Capital Campaign
Based on past experience and recent survey work, Grenzebach, Glier and Associates estimates that $10-$15 million can be raised for this project. The firm's principal, Martin Grenzebach, expects that gifts will flow to the University during the first five years.
Premium Seating Opportunities Within New Press Box
# Suites - Approximately 40 suites will be available which can yield approximately $2 million in annual revenue potential in the first season (fall 2006)
# Indoor Club Seating - Approximately 310 indoor club seats will be available which can yield approximately $1.5 million in annual revenue potential the first season (fall 2006)
# Outdoor Club Seating - Approximately 1,100 outdoor club seats will be available which can yield approximately $2.49 in annual revenue potential the first season (fall 2006)
I-Club Priority Seating Gift Program
The UI Athletic Department will continue its practice of assigning seat locations for season ticket purchases based on customer ticket priority. It is likely that a minimum annual gift to the National I-Club will be required to access seats in several of the sections in the east and west grandstands. The gift will vary but will increase in value relative to the 50-yard line.
Concessions
Concessions facilities will be expanded inside the renovated Kinnick Stadium, increasing the amount and diversity of concession sales at the facility on game days. Conservative estimates from CSL indicated approximately $195,000 in additional net revenue per game result from increased sales.
Scoreboard Sponsorship
Approximately $4 million included in the projected cost of the project will be invested in upgrading the stadium's scoreboards and sound systems. It is expected that these new scoreboards will generate additional revenue for the UI Athletic Department, but no amount from this revenue source has been included in the financial plan as a contribution to debt service.
Ticket Surcharge
Many universities have implemented a ticket surcharge to help fund major stadium renovations. There are no plans to implement a surcharge in the immediate future, but it is important to note that this is a potential revenue source that can be considered if needed.
Some more pics
Whats wrong with these locker rooms?
that isn't bad at all.
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