U of M Board of Regents approves 2010 state capital request, governance for UMore Park

Contacts: Daniel Wolter, University News Service, (612) 624-5551

MINNEAPOLIS / ST. PAUL (10/09/2009) —On Friday, the University of Minnesota Board of Regents approved a 2010 state capital request, which asks for $193.3 million in state bonds to be matched by $46.7 million in university bonds. If funded by the Legislature, it would fund $100 million in maintenance to existing facilities, renovation of Folwell Hall and a new physics and nanotechnology building on the Twin Cities campus, a new American Indian Learning Research Center on the Duluth campus, and improvements to the Itasca Biological Station in Itasca State Park.

“This request is a realistic statement of the university’s capital infrastructure needs,” said board Chair Clyde Allen. “Preserving our existing facilities and making much needed improvements are an important part of protecting the quality of the education and research the university provides.”

The board also approved creation of a limited liability corporation to oversee the management and development of UMore Park in Dakota County as well as a “Legacy Fund”, an endowment created from the proceeds of environmentally-responsible gravel mining on the property that would be used to support university academic education, research and outreach not otherwise funded through other means.

In other action, the board:

  • Approved schematic plans for phase 4 of the St. Paul Chilled Water Facility, additional wind generation capacity on the Morris campus, a capital budget amendment for the Center for Magnetic Resonance Research (funded primarily by an outside grant) as well as a real estate transaction; and
  • Accepted the annual University Plan, Performance and Accountability Report.

More information on the Board of Regents can be found at www.umn.edu/regents

Tags: All administrative: President, Provost, etc.