Posted: Oct 4, 2012 4:53 PM by Alyse Rzemek
Updated: Oct 4, 2012 5:30 PM
FORT COLLINS, Colo. (AP) - Colorado State University has been cleared to start raising money for a new football stadium on campus.
CSU's board of governors voted Thursday to back president Tony Frank's recommendation to move ahead with fundraising.
The campaign would be suspended if a viable financing plan can't be found within two years.
The Coloradoan reported that more than a dozen people asked the board to reject the proposal before the vote. No one in the audience spoke in favor of it.
CSU has been examining since February whether replacing the aging, off-campus Hughes Stadium is feasible. Consultants hired by the school and by opponents of a new stadium have disagreed about how much revenue would be generated by a new on-campus facility, whose costs are estimated at about $246 million.