RADFORD -- More than $190 million to fund capital projects at Radford University is included in the biennial budget for 2008-10 proposed by Governor Tim Kaine. The proposed budget includes funding to increase undergraduate financial assistance and to support basic operating costs. The budget would increase funding by $474,538 per year for need-based financial aid for in-state undergraduates. A total of $628,056 (general fund monies) and $401,544 (nongeneral fund) is included for each year to support RU’s core operating requirements needed to deliver quality instructional and student services activities.

Governor Kaine unveiled his spending plan on December 17 for the two-year period that begins on July 1, 2008. The General Assembly will convene on Jan. 9, 2008 to begin legislative and budget deliberations.

The proposed capital projects combined with the two new building projects in the Governor’s bond proposal announced Dec. 13 add up to a “highly ambitious legislative agenda. We are thinking big,” said RU President Penelope W. Kyle.

“We greatly appreciate the support of the Governor, the General Assembly and SCHEV for these projects,” Kyle added.  “We also appreciate the support of our alumni and friends in helping us articulate our case for these initiatives, which will help us reach our goal of becoming one of the nation’s leading public comprehensive institutions.”

RU’s two most pressing facility needs addressed in Governor Kaine’s bond proposal are new buildings for the College of Business and Economics (COBE) and College of Science and Technology.

A new signature COBE building will allow for all business classes, faculty and related research to be located in a single building for the first time. This new facility will enable the business college to upgrade classroom instruction technology and services in accordance with the Association to Advance Collegiate Schools of Businesses’ accreditation review recommendations.

A total of $44.7 million is proposed for construction to be funded through the issuance of bonds through the Virginia College Building Authority (VCBA), $34.7 million, and private funds, $10 million.

A new science and technology building will integrate information technology and math and science programs that are currently scattered among four separate buildings. A modern building would accommodate the learning technologies needed for effective science, technology and math instruction.

The new facility will provide larger science laboratories that meet the guidelines provided by national accrediting agencies and expand opportunities for interdisciplinary research and faculty-student research collaborations. $36.2 million in funding would be provided through a General Obligation Bond that must be passed by the General Assembly and would require approval by Virginia voters in a November 2008 general referendum on Election Day.

Other capital projects for RU in the Governor’s biennial budget include:

• Construction of three new on-campus residence halls configured to fit today’s student needs, $36 million. These projects will be funded from the issuance of 9© revenue bonds repaid with housing fee revenue.
• Construction of a student fitness center to integrate student involvement and guidance in wellness activities, $32 million.  This project will be funded from the issuance of 9(d) revenue bonds repaid with student fee revenue.
• Construction of an addition to the Hurlburt Student Center to include conference rooms, lounge space, student offices and programming areas, $20 million. This project will be funded from auxiliary enterprises, reserves and the issuance of 9(d) revenue bonds repaid with student fee revenue.
• Equipment and infrastructure for Young Hall, $284,000. This project will be funded from the issuance of bonds through the Virginia College Building Authority (VCBA).
• Equipment and infrastructure for Davis Hall, $149,000. This project will be funded from the issuance of bonds through VCBA.
• Authority to explore options for property acquisition, building construction and infrastructure improvements.