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Volume CXXXI, Number 23 |
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College postpones building projects
FE VIVAS
STAFF WRITER
As a result of the instable economy and lack of funds, the College has
postponed several planned building projects until it has firmed up funding.
The building projects include the renovations of the Chapel
towers, the Walker Art Museum, and the Curtis Pool building; and the construction
of a new academic building.
"Economic times are certainly more difficult than the
late nineties," President Barry Mills said. "It is important
for the college to have committed funds before projects can be completed.
I am confident that we will have the funds to get these projects which
are important to the future of the college underway."
Vice President for Planning and Development William Torrey
said that his staff is committed to the "constant effort to try to
raise money we need for all we need to do."
Torrey explained that the College has raised between $20
and $25 million a year every year since 1998. Financial staff memberes,
as Torrey explained, are "constantly juggling" these funds to
pay for the long list of projects on the College's agenda.
Currently at the top of the College's improvement list are
the Chapel towers. Torrey estimated the cost of the entire restoration
to be $8 million. The initial stage, which included the stabilization
of the towers with balancing scaffolding and wire mesh, will be completed
by July 1, 2002 and yields a price tag of $750,000 to $1 million.
The funding for this initial stage is in hand, Torrey explained.
The funding for the remaining portion of the restoration is uncertain.
The largest expenditure of this project, which includes the removal and
replacement of each individual granite stone and is set to take two years,
is still in the process of funding collection. Planning and Development
is looking to insurance, alumni giving, and possibly loans to fund this
restoration.
Director of Facilities Management Bill Gardiner attributed
the high price and long time frame for this project to the shortage of
skilled stone masons in the region. Gardiner explained that each tower
will be restored independently during the second stage because of the
scarcity of skilled masons.
The growing psychology and education departments and the
Baldwin learning center look to the promise of a new academic building
reserved exclusively for them. The academic building will be on the corner
of Bath Road and Federal Street and will encompass 25,000 square feet.
Five million dollars of the $10 million price has been gifted
by a generous foundation of which an alumnus is a member. The remaining
half of the price will be covered by fundraising from individual and corporate
donors, said Torrey.
Construction on the new academic building, set to be named
after the undisclosed giver, is expected to begin in March of 2003.
"Depending on final board approval," Mills said,
the new academic building should be built by Fall of 2004."
The Walker Art Museum, in dire need of renovation is the
most expensive project on the list, set to cost $22 million. Torrey explained
that the College has collected $10 million in gifts and is "trying
to bring the price down and fundraise the balance."
The College will not begin the renovation, he said, "until
the money is in hand."
Mills said the College is "continuing to raise funds
and develop plans that are achievable with the funds we have."
The renovation of the Curtis Pool building into a concert
hall and practice rooms for the performing arts is currently on hold.
The design of the performance space is ready, but renovation has been
halted due to the loss of committed funds.
The primary donor had to back out when the price of his
stock shot down due to economic woes. Torrey explained that the College
is actively seeking funds to realize the plans.
President Mills said, "the beautiful plan for a concert hall and much-needed performance space and practice rooms were developed a couple of years ago. A few donors are extremely interested; we're hoping to collect funds."