After more than six decades of discussion, the University of South Florida’s planned football stadium on campus has finally received its ultimate approval. The Florida Board of Governors gave unanimous consent to USF’s construction financing plan, a pivotal step for this approximately $340 million project.
USF’s financing strategy involves a $200 million bank loan with a projected interest rate of up to 7%. Due to interest rate increases since the project’s inception, USF might face a potential payment of nearly $400 million over 20 years. The final interest rate has yet to be determined.