Sunday, July 19, 2009

From Curbed LA: UCLA Pauley Pavilion Renovation Gets Paid For

UCLA's Pauley Pavilion Renovation Gets Paid For

pauleyfin.jpg

UCLA hammered out the details of how it'll pay for the $185 million Pauley Pavilion renovation.The UC regents approved a financing plan cobbled together from donations, athletic revenues, and student-facilities fees yesterday. Looks like thosepossible naming rights sponsorships never came through? The regents had been concerned, naturally, about sinking money into a stadium remodel when the entire system is crippled financially. UCLA Chancellor Gene Block assured the regents that funds going to Pauley couldn't legally be used for anything else (although directing fundraising efforts toward raising $100 million for Pauley is probably at the expense of other campaigns), and said that it was a good time to build with contracting bids nice and low. The school has already raised $52 million for the renovation, which will update the arena's 1965 facilities and safety systems. There's been no word on changing the NBBJ designs for the renovation, despite Frank Gehry's objections. Construction is scheduled to start in February 2010.

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