The University of Nebraska and the state have had a long and successful history of partnership in addressing deferred maintenance needs—needs that impact the quality and functionality of NU buildings. The University is seeking to continue this partnership under a 12-year capital plan, announced in December of 2015 by President Hank Bounds.
“To attract the best students and faculty who can contribute to Nebraska’s economic needs, it is vital to provide updated, functional facilities suited to 21st-century learning and research.”— Hank Bounds, President
University of Nebraska
The proposal was endorsed unanimously by the Board of Regents at its December 2015 meeting, and will be brought to the Legislature and Governor for consideration in the 2016 session. It extends an NU-state partnership that began almost two decades ago to address deferred maintenance needs. The mutual investments made by the university and state during that time have allowed the university to provide students and faculty with quality classrooms, labs and offices; ensure an outstanding educational experience; and remain competitive for top talent.
University facilities, valued at $4 billion, represent more than 70 percent of the state’s net total building assets. That means the state has a stake in continuing to partner with the university in making investments that advance shared goals and protect shared state assets.
“We are operating in the most competitive higher education marketplace of our lifetimes,” says Bounds. “The University of Nebraska has ambitious goals for attracting the best students and faculty who can contribute to Nebraska’s workforce and economic needs. If we are to be successful, it’s vital that we provide updated, functional facilities that are suited to 21st-century learning and research."
Under the 2016 proposal, the university and state would each increase their annual investments by $11 million to finance a $400 million bond. The bond funds would be available for renovation and renewal projects on the four campuses.