Tuscaloosa officials outline financing, timeline for Saban Center; bids set for May 15

City of Tuscaloosa officials and project partners on April 21 briefed the Finance Committee on the Saban Center — a planned STEM-focused children’s campus that will house the Tuscaloosa Children’s Theatre, Ignite (formerly CHAM) and the State of Alabama STEM Hub — and laid out the funding plan, bid schedule and an anticipated construction timeline.

The presentation said the project’s capital package combines city budgeted funds, a planned bond issuance and private and state contributions. “There’s $16,000,000 in already approved Elevate annual budgets, $3,800,000 in already approved River District annual budgets and a principal bond amount of $42,000,000,” a finance presenter identified in the meeting as Miss Standridge told the committee. She said the city has $6,500,000 already received from the capital campaign, $11,900,000 in pledges not yet received, a $25,000,000 state grant for the STEM hub already deposited, and an additional $12,300,000 in recent commitments from the fundraising team. The presentation noted interest income on invested campaign funds would also be applied to the project.

Why it matters: City leaders said the Saban Center is intended to be both an education and workforce pipeline and a tourism draw for Tuscaloosa. Mayor (unnamed) told the committee the project “may be … the initiative that will have the most generational impact” for the city and region, and emphasized private-sector involvement and matched funding that the city’s leaders say substantially lowers the city’s net burden.

Key funding and schedule details

- Funding breakdown presented to the committee: $16,000,000 (Elevate annual budgets); $3,800,000 (River District budgets); $42,000,000 (city bond principal previously approved); $6,500,000 (capital campaign cash already received); $11,900,000 (pledged but not yet received); $25,000,000 (state grant for the STEM hub, reported as already in the city’s accounts); $12,300,000 (additional capital campaign commitments). The presenters said those sources produce a working bond issuance figure of about $66,500,000.

- Use of campaign receipts: Standridge said campaign receipts already received will be escrowed and used to make debt-service payments as they become due. She also said the $25,000,000 state grant is being held in a certificate of deposit and will be available in a few months when it matures. She told the committee that interest earned on segregated campaign and grant funds is proposed to be reapplied to the project.

- Bid and contracting timetable: City project staff said bid documents were released in mid-April and a pre-bid meeting was held April 21. Six general contractors were prequalified and expected to submit bids on May 15. The committee was told the bid package uses a base-bid-plus-alternates structure so the city can consider award and scope choices after bids are opened.

- Approval and construction timeline: Staff said the goal is to present a contract award recommendation to the Projects Committee in early June (after the 60-day hold period), followed by Finance Committee and full Council consideration in mid-June, and a bond sale in June. If the schedule holds, site mobilization and demolition could begin in August 2025, building completion is scheduled for December 2026, exhibit installation would run January–June 2027 and the campus would open in summer 2027.

Project design and programming

Presenters showed renderings of the Saban Center campus and described it as a multi-gallery, integrated STEM campus with indoor and outdoor exhibits, teacher professional development, year-round programming and a “Legacy Hall” featuring memorabilia and exhibits tied to Coach Saban’s legacy. Presenters said the campus will include exhibits tied directly to regional employers and workforce pathways (for example, robots and drone exhibits) and an avatar-based system that will track a child’s interactions over multiple visits to guide future learning and career exposure.

Partners and community benefits

Presenters said several statewide corporations, nonprofit partners and university institutes are participating in exhibit design and curriculum development; they named Alabama Power, Blue Cross Blue Shield, Parker Towing, NOAA and University of Alabama institutes as collaborators. The presentation framed the center as a pathway to future STEM jobs and as a tourism draw complementing existing attractions such as the Bryant Museum.

Committee questions and finance mechanics

Committee members asked for clarification about how pledges would be applied to debt service and whether escrowed campaign funds would cover early bond payments. Standridge said pledged but uncollected funds are planned to be paid out over five to ten years and that campaign cash already received is escrowed to pay the first debt-service payment. Staff also confirmed the bond-rating agencies have been informed of the city’s planned Elevate bond issuances in aggregate, though not every project detail; staff told the panel they expect the agencies to view the proposed issuance within the parameters already reported to them.

Votes at a glance

- Motion to adopt minutes: Mover — Councilmember (unnamed, speaker 1); second — Councilmember (unnamed, speaker 2). Committee vote: “All in favor, say aye.” Outcome: adopted.

- Motion to withdraw a budget revision item (identified in the meeting as item 3 or 4): A committee member recommended withdrawal to allow more time to revise scope; the motion to withdraw was made and seconded and the committee voted “aye.” Outcome: item withdrawn.

What remains unresolved

No formal Council vote on bond issuance, contract awards or final project adoption was taken at the Finance Committee meeting. Staff told the committee that contract awards will be presented after bids are opened May 15 and that the committee and full Council will consider contract awards and bond adoption in June. Several financial details—such as the schedule of pledged payments over the 5–10 year campaign payout and exact annual debt-service amounts tied to the bond sale—were discussed but remain subject to final bond terms and the timing of pledge receipts.

The committee meeting closed with staff confirming the May 15 bid opening and the broader schedule toward June bond-market activity and summer 2027 opening goals.