LEXINGTON, Ky. (Feb. 5, 2013) ― Legislation authorizing the University of Kentucky to move forward with self-financing of $275 million in infrastructure projects that would accelerate the transformation of the UK campus was filed Tuesday afternoon.
Specifically, House Bill 7, sponsored by Rep. Rick Rand, chair of the House Appropriations and Revenue Committee, would allow UK to move forward with three projects, without using one dollar of state general funds. The legislation will be referred to the House Appropriations and Revenue Committee, which is expected to consider the proposal Wednesday morning during a special meeting. If successful, the legislation would then go to the full House and state Senate for consideration.
UK’s self-financed projects include:
• A $65 million renovation and expansion of the Gatton College of Business and Economics;
• A $100 million new Science and Academic Building that would dramatically enhance learning and research space in the heart of the UK campus; and
• A $110 million renovation of Commonwealth Stadium and the Nutter Training Center.
“With the support of the governor and legislators across the state, we have found a path to move forward with the critical revitalization of our campus, working with Athletics, generous donors and through greater internal efficiency,” said UK President Eli Capilouto. “The filing of legislation represents one more important step in this process. We look forward to continuing to talk with policy leaders and the Big Blue Nation that has rallied around this initiative.”
More information about the individual projects can be found at www.BBNunited.com. For updates on these projects, information will also be available on Facebook at www.facebook.com/BBNunited and on Twitter, @BBNunited.
Last month, Gov. Steve Beshear and more than 30 legislators announced their support for UK’s self-financed projects as well as those throughout Kentucky higher education. In all, six of Kentucky’s public universities are proposing to self-finance critical infrastructure projects on their respective campuses.