Monday, March 16, 2015 - 4:38pm
Historically, the Commonwealth of Kentucky has used its bonding authority and general fund debt service to build only academic buildings as capital projects. Continued strains and demands on the state budget do not allow for funding other types of buildings that are essential for a vibrant living and learning community. State-bonded funding paid for our New Science Building. We are now asking the state to fund a new College of Education and Model Laboratory School. Funding for student experience-related projects will have to come from alternative sources, including agency bonds on which the University must pay the debt, public/private partnerships, University operating funds, gifts from donors and new sources of revenue like a student fee. We anticipate that the implementation of this new Special-Use fee will contribute the majority of the funding necessary for the student union and recreation center projects, and the University is committed to finding other sources of revenue to make up any shortfall.