Ohio University has asked for millions in state funds from a commission co-chaired by OU President Roderick McDavis to help with the onslaught of deferred maintenance afflicting state universities.
The university submitted a request for slightly more than $24 million to tackle deferred maintenance projects on OU’s Athens campus. The request was submitted to the Ohio Board of Regents and Ohio Higher Education Funding Commission 2.0, a coalition of university presidents that formed in late September.
Its requests will be prioritized and sent to Gov. John Kasich as recommendations to include in the state’s biennial budget for fiscal years 2015 and 2016.
That money will be used alongside $100 million in debt approved by OU’s Board of Trustees earlier this year for the university’s deferred maintenance backlog, according to the board’s agenda.
The money was approved by OU’s Board of Trustees after a report from Vice President for Finance and Administration Stephen Golding said the university’s deferred maintenance backlog would increase by $74.2 million if OU didn’t spend money to decrease it, according to the June board agenda.
“A one notch credit downrating” of OU’s credit rating, due to taking out this extra $100 million, would lead OU to pay up to $6 million more in interest payments and potentially limit the university’s debt capacity beyond fiscal year 2018, according to the documents.
Projects in the proposal include renovations to The Convo, Peden Stadium, the Kennedy Museum of Art and paving for McKinley Avenue, along with electrical, roof, steam tunnel and heating and cooling renovations and upgrades.
Devoting state funds to reducing OU’s deferred maintenance backlog is necessary, as there are “lots and lots of needs across campus,” Harry Wyatt, associate vice president for Facilities, said.
At the time of his appointment, McDavis said he hoped to get as much or more than the $400 million allocated by the state to university capital projects in the state’s most recent budget.
“There have been some positive references from the Statehouse that they could do a bit better,” Wyatt said. “Our proposal is about 125 percent of what we were actually allocated last biennium.”
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