With bidding on the Business Education Complex scheduled for Dec. 15, groundbreaking on the $60 million facility could begin soon after the start of the spring semester, according to E.J. Ourso Business College Dean Eli Jones. Construction on the complex is tentatively scheduled to begin in February with a tentative completion date of March 2012, Jones said.Gov. Bobby Jindal announced Nov. 4 the state’s commitment of $30 million in capital outlay funding for the complex, according to a University news release. The complex will receive $30 million from the Capital Outlay funding state match, $21.9 million from the LSU Foundation and $8.1 million in internal bridge loans from revenue generated by the Southeastern Conference TV rights contract, according to an Aug. 28 report by The Daily Reveille.Plans for the new facility will allow the College of Engineering to entirely take over Patrick F. Taylor Hall. It also allows the University to take advantage of the $30 million state match, and it would help to increase confidence in potential donors, Chancellor Michael Martin said.”This is great for the state of Louisiana to have a flagship with something like this,” Jones said. “This will help us retain our star faculty and to recruit new faculty — this will be a huge draw for potential new faculty members.”The bridge loan from the SEC TV rights contract outlined in the proposal is needed to bridge the gap between the actual amount of funds raised and the fundraising goal — actual construction costs cannot be determined until the project is bid, but Martin said bidding could not occur until proof of funding is established.The SEC TV rights contract generates between $5 million and $6 million per year for the University, according to the LSU Board of Supervisors proposal. The University initially received $1 million when the contract was signed.Amedisys Home Health Services, a health care and hospital services provider in Baton Rouge, donated $1 million for the new complex, according to an Oct. 29 report by The Daily Reveille.
 
 
 
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