What happened was the economy, when UVM's investments dropped 2 years ago or so they put a freeze on all new building construction. They have had a study committee and a new arena was recomended, but over the past two years there has been a 10 million deficit that they have had to address, so the new arena has been put on hold. That said, IF things turn around it will likely be in the number two spot for constuction behind a new set of dorms that the crazy city council has mandated they constuct to free up housing. But yeah, seems like a no brainer. Waiting list for season tickets has stretched out to close to 15 years now, not to mention revenue from people buying per game tickets and added ability to host other events. The state isn't big on contributing either, they would rather shuttle money to K-12 education so that we can maintain a 5:1 student teacher ratio and so that the career welfare queens can sit home and watch Oprah.