The State Board of Higher Education gave the University another green light on the new arena as it moves closer to breaking ground on the $200 million project.
But University President Dave Frohnmayer’s update to the board on Friday sustained some criticism.
Board member James Francesconi said he was upset that the University didn’t provide the board with the 2004 ECONorthwest report that suggested the arena would earn much less revenue than current forecasts endorsed by the athletic department show.
Being that the University said it gave the board all relevant information, Francesconi reacted with “some disappointment to some anger.”
University President Dave Frohnmayer said he had never seen the report, and those currently working on the project had forgotten about it. Frohnmayer also said the report was based on different information, thus is less relevant.
Frohnmayer also assured board members that the Oregon Athletics Legacy Fund, which was established by Phil and Penny Knight’s $100 million donation, will help support the athletic department as it pays back the $200 million bond over the next 30 years.
The University still has several checkpoints before construction can actually begin.
The $200 million bonds it received from the Oregon Legislature must be sold by the state treasurer, but the University needs additional permission from the state board to make the sale. That transaction is expected to take place in May, Frohnmayer told the board.
The University also must get the vote of the city council in order to destroy the Villard Street alley, and work with city planners to navigate zoning laws.