The renovation of 15 Park Place will cost Ohio University more than $1 million, about one third of the project's total budget, a university official said Friday.
Harry Wyatt, associate vice president for Facilities, said the construction should be completed by January. OU is pitching in $1.14 million in addition to the $2 million donated by 1967 alumni Robert and Margaret Walter in 2008, Wyatt said.
The $1.14 million contribution is coming from two sources, Wyatt said.
One was an account from the provost's office that was set aside for debt service on another building
which was not needed to handle that particular issue. The other source was utility savings from last fiscal year's budget he said. It was something like a 50/50 breakdown.
None of the money OU is contributing to the renovation and purchase of 15 Park Place is coming from students, said Becky Watts, chief of staff to OU President Roderick McDavis. The building, which is located next to Baker University Center, will house a new international center.
(Facilities Management) does get state money but it is not State Share of Instruction or tuition money
Watts said.
State Share of Instruction is higher education funding awarded by the state based on the number of full-time students enrolled in a university, among other criteria.
The $2-million gift will cover part of the $700,000 purchase and $2.33-million renovation of the building, Wyatt said. The remaining $110,000 in the budget is allocated for furniture and equipment, he said.
OU will own the building, which housed the Sigma Chi fraternity, and it will contain university offices, Wyatt said.
The university knew that it might have to supplement the project's budget if it exceeded $2 million.
As the donor's gift came forward and the development of the project evolved ... the decision was made that additional resources would be needed to complete the scope of the project
Watts said.
OU purchased the building in 2008, but construction did not start until this past April because of the time it took the contractor, R.W. Setterlin, to design the renovation, Wyatt said.
Currently, the area around the front of the house - including the sidewalk - is fenced off because of construction, and will likely remain so until the project is completed, Wyatt said.
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Pamela Engel
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The former Sigma Chi house next to Baker University Center remains under construction. The renovation will cost a total of $3.14 million and will be completed in January.
(Erin Corneliussen | PICTURE EDITOR)
