FOR IMMEDIATE RELEASE
Nov. 14, 2000
Contact Pamela Young
EMU REGENTS APPROVE FY 2002 CAPITAL OUTLAY REQUEST
YPSILANTI - The Eastern Michigan University Board of Regents approved a fiscal year 2002 capital outlay budget request for two priority building projects, at its regular meeting, Nov. 14.
The two projects are the modernization of the Pray-Harrold classroom building at an estimated cost of $34,355 and the Science Complex - Phase I, at an estimated cost of $49,800,000.
Both have been identified as critical needs of the University and the Board authorized the administration to engage the Department of Management and Budget (DMB) and to pursue legislative support to accomplish both projects.
This is the first year that the DMB has asked for the University's number one capital outlay priority instead of its top three. Previously the University identified its priorities as a science complex, a new College of Technology building and the modernization of Pray-Harrold. During the past year, the science complex was vetoed twice by Governor John Engler due to cost. The science project scope was reduced and now consists of a new 75,000 sq. ft. physical science building and an upgrade of the Mark Jefferson Science Building's infrastructure.
Currently, each project will require a minimum 25 percent match - $12,450,000 for the science complex - phase I, and $8,583,750 for the Pray-Harrold modernization.
To provide matching funds, the Board approved that the EMU Foundation establish a fund-raising priority of 50 percent of the 25 percent match. The remaining portion of the match, or any shortfall from fund-raising activities would be provided by the sale of bonds.