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U of M Board of Regents adopt $238.9 million state bonding request
MINNEAPOLIS / ST. PAUL ( 10/12/2007 ) -- The University of Minnesota Board of Regents approved a $238.9 million request for state bonding to invest in its core infrastructure and enhance its competitiveness. Combined with $69.4 million in university investment, the plan would result in a total capital bonding investment of $308.3 million. "This legislative session will focus a great deal on Minnesota's infrastructure," said Board Chair Patricia Simmons. "Nothing is more important to the competitiveness of our state than our higher education infrastructure. This request is ambitious, aimed at protecting our assets and designed to make strategic investments that will enhance our state's quality of life." The cornerstone of the request is $100 million in Higher Education Asset Preservation and Replacement (HEAPR) funds to address safety and maintenance issues for the university's more than 800 buildings and 28 million square feet of building space, which includes some of the state's oldest and most technically complex facilities. The request also includes a new science teaching and student services building along the Mississippi River on the Twin Cities campus, a new civil engineering building on the Duluth campus; the renovation of a gateway center on the Morris campus; a new facility for the Bell Museum of Natural History; renovation of historic Folwell Hall, which is the writing and language arts building on the Twin Cities campus; enhancements to the Academic Health Center's ambulatory care and learning center; and a variety of other classroom and laboratory renovations. "When the University of Minnesota seeks state investment in our capital infrastructure, it's important to note that it's a partnership," said university President Robert Bruininks. "We pay, through private fundraising and other sources, one third of the cost of these projects. It's a good deal for taxpayers, giving them more proverbial 'bang for their buck' in these investments." In other action, the Board of Regents gave final approval to a tuition reciprocity agreement between Minnesota and Wisconsin. They also heard a report from University of Minnesota Morris (UMM) Chancellor Jacqueline Johnson about the student experience and future aspirations of UMM. The board also heard from University of Minnesota Foundation President and CEO Gerald Fischer that the university had a record year for private fundraising, raising $251 million in private gifts. More about the university's capital request can be found at http://www1.umn.edu/urelate/govrel/capitalrequest/. More information about the Board of Regents can be found at http://www.umn.edu/regents. ----------
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