Compendium of Budget Information for the 2011 General Session
| Business, Economic Development, & Labor Appropriations Subcommittee | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subcommittee Table of Contents | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line Item: USTAR Capital Developments Function The Capital Development line item comprises expenditures for the University of Utah and Utah State research buildings. Expenditures are now accounted for within the Divison of Construction and Facilities Management. UCA 63M-2-201 provides direction for the construction of USTAR research buildings. The Governing Authority is to plan, design, construct, and hold title to these buildings on land provided by the University of Utah and Utah State University. The Governing Authority must contract with the Division of Facilities Construction and Management to oversee construction of these buildings. Ground breaking for the 208,000 square foot University of Utah building took place on April 22, 2009 and is scheduled to be completed in calendar year 2012. Besides state and university funding, private funding stemmed from the Sorenson Legacy Foundation ($15 million) and Micron Technology Foundation ($1.25 million). The facilities will comprise:
The Utah State facilty broke ground in October 2008 and the ribbon cutting ceremony was held in October 2010. Besides state funding, the university donated (with the approval of the Legislature) Building 620 and the accompanying land to satisfy the university's $10 million contribution requirement. The 110,000 square foot building will house researchers pursuing advanced research in nutrition, veterinary and other life sciences. The USU facilites include:
Funding Detail Funding for the building program is from general obligation bonds and university-certified non-state funds. During the 2009 General Session, the Legislature decided to use the one-time general fund money allocated to USTAR for other expenditure purposes and allowed USTAR greater bonding authority to make up the difference. As of November 2010, about $78 million had been spent on the University of Utah building and $54 million on the Utah State structure. The following two figures show cumulative expenditures on the buildings since the first building expenditure took place.  
|