U Of M Seeks $170M From State For Building Plans
MINNEAPOLIS (AP) — University of Minnesota regents have voted to formally request $170 million in borrowing from the state Legislature for building and renovation projects throughout the system.
The 2011 capital request approved Friday calls for the university to match the state’s contribution with nearly $40 million from the university for a total capital budget of $209 million.
The university would spend about $90 million to repair and upgrade existing buildings. The second-largest budget line, at $81 million, is the conversion of the Old Main Steam Plant on the Twin Cities campus into a multiple-use building with gas-fired turbines to generate electricity.
The regents also voted to approve President Eric Kaler’s pick for the next provost, Karen Hanson of Indiana University.
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