LA CROSSE, Wis. (AP) The University of Wisconsin-La Crosse could cancel plans to build a new stadium if fundraising does not pick up, Chancellor Joe Gow said.
The university still needs to raise $5.4 million for the $15.6 million project, Gow said.
The money must be raised by Feb. 1 for the university to take construction bids to break ground in summer 2008. If that doesn’t happen, the project could be delayed or canceled, the chancellor said.
It’s too risky for the university to borrow the money without knowing if it could pay it back, he said.
“It’s very hard to raise money for a project that’s already built,” Gow said. “You lose that sense of urgency.”
UW-La Crosse could lose a lucrative track meet if the project is delayed.
The WIAA State and Track Championship brings about $3 million into the area each year, said Mike Desmond, the project’s point man.
The proposed athletic complex will cost an estimated $17.1 million, with $15.6 million for the basic structure. Gow has said the remaining work can be done in phases.