The University's Board of Trustees has unanimously approved a motion authorizing the President to explore with the financial community the possibility of borrowing $41 million. This money will be used to accomplish projects within Phase I of the University's Campus Master Plan.
Intended recipient projects of Phase I funding:
Three new residential housing buildings would provide the University with a total of 280 beds by mid-2008. Initially 180 beds would be expected to be online by the fall of 2007. The cost of this projected would be $25 million.
The Campus Center project, which would be the flagship project for the next campaign, would offer everyone a first-class eating and social area. It would be a very inviting building, with new dining halls, club rooms, a cafe, meeting rooms, gathering rooms and other unique and useful areas. While the majority of funding would be from the Capital Campaign, $3 million would be from Phase I funding.
Infrastructure and other needs such as parking, utility services to the new housing complex, an upgrade of campus data communications, additional offices for faculty and staff, road work and ADA issues would receive the remaining funds, or $13 million.
"I am thrilled that our Board of Trustees has put their full support behind our efforts to make these vital improvements," said President Schneider. "As you know, for the past 187 years Norwich has been developing business and military leaders. These infrastructure improvements will enable us to keep our mission vibrant, be consistent with the requirements of our NU2019 strategic plan, and remain a strong, competitive institution of higher learning well into the future."
firstname.lastname@example.org, January 2005
What's New | 2005 News Archive