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Policy change promotes fund raising for buildings by Karen A. Grava - April 16, 2007 |
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| A modification to policy approved by the Board of Trustees last week will permit the University to initiate project definition and pre-planning activities for building projects funded with private support, provided adequate private funds are available. The policy adjustment will enable pre-design, definition of scope, and building location planning to begin before fund raising is completed, said Thomas Ritter, a member of the Board of Trustees and chairman of the Building, Grounds, and Environment Committee. These activities are essential tools in the effort to raise needed private funds, he said. Prior to this modification, all private project funds had to be secured before pre-design activities could commence. The policy change applies to any building that would use private funding for all or part of its construction. The policy only affects initial project planning. Existing board policies regarding project approvals, including specific budgeting requirements and distribution of funding, remain in place The modification allows the University to begin planning for projects that include new and renovated facilities for athletic programs. “We want to ensure that our programs remain competitive at the highest level,” said Jeffrey Hathaway, director of athletics. “Quality facilities will be critical to our future successes. By having the programming in place, we will be able to share renderings with potential donors to stimulate enthusiasm for these unique giving opportunities.” |
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