Assembly Hall renovation, renaming now heads to trustees

The university will finance the $165 million project with the sale of bonds, most likely 30-year bonds, according to Bass. Including interest on those bonds, the cost could be between $250 million to $300 million. Bass has not nailed down an exact figure for the university's annual debt service payment, but estimated it at around $9 million to $10 million.

The annual revenues to pay for that debt service will come from about $4.8 million of seat licensing, $2.1 million from student fees (this spring students approved a $50 annual fee to help pay for the project), $2 million from State Farm for the naming rights, $700,000 in ticket surcharges and $500,000 in Big Ten Network revenue.

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