Nearly $1 billion will be spent that will change Ohio University’s landscape by 2020.
From next year until 2020, Ohio University is planning to spend $966 million — $585 million of that from debt — on widespread construction as OU’s 20-year Capital Improvement Plan begins to take shape.
Remaining funding will come from state capital, university reserves, gifts and grants, according to the OU Board of Trustees agenda for its Oct. 31 and Nov. 1 meetings.
The plan, which Vice President for Finance and Administration Stephen Golding called OU’s “No. 2 priority” in September, will be paid by OU’s stable revenue streams — namely room and board increases and possibly tuition, according to Golding and Vice President for Student Affairs Ryan Lombardi, in a previous Post article.
So far, only $124.4 million of the debt has been issued for the projects.
A new science facility, residence hall complex and Medical Multipurpose Building will be built between fiscal year 2015 and 2020, along with numerous smaller projects and renovations across the university.
The debt will be paid off with increases to the cost of room and board over the life of the plan, according to a previous Post article.
“I would say this (construction) is unprecedented,” said Harry Wyatt, associate vice president for Facilities, adding that this level of construction has not occurred at OU in decades.
The plan also says OU plans to spend $40.45 million on deferred maintenance on just the Athens campus during fiscal years 2015 and 2016, all from state appropriations.
“Our ability to provide a transformational experience for students requires intentional investment in our campus facilities,” Pam Benoit, OU’s executive vice president and provost, said in the board’s agenda. “From classrooms and laboratories to residence halls and green spaces: we are choosing to remain relevant, inviting and engaging.”
Highlights of the plan include building a medical multipurpose building to house diabetes and neuromuscular clinical research in the Heritage College of Osteopathic Medicine and an Interdisciplinary Science Facility that will replace Clippinger Laboratories after it is demolished, as well as the first phase of the Housing Development Plan.
A classroom improvement plan is also included. Beginning this year, OU will designate $1 million annually to repair and renovate campus classrooms, with $2 million being allocated this fiscal year, Wyatt said.
The plan will also adhere to the university’s goal of moving administrative services from the center of campus to its wings, to free up space for academic activities, Wyatt said.
One example of this is the moving of Residential Housing’s office in Chubb Hall to the residence hall complex currently being built on South Green.
The Capital Improvement Plan, first presented to OU’s Board of Trustees in 2011, will be updated at the Oct. 31 and Nov. 1 board meetings when Golding, Wyatt, Lombardi and others give the board the plan’s first two-year update.
dd195710@ohiou.edu
@WillDrabold
