2018-2024 CAPITAL PLAN PROPOSED CAPITAL PROJECT. FORM SYP-P2 PLAN VERSION - 1 4/17/2017
Branch: Executive Branch Cabinet/Function: Cabinet for Postsecondary Education Agency/Institution: KY State University
Project TitleConstruct Business & Technology Center
CategoryConstruction - Other
Biennium2018-2020
PriorityAgency2 CabinetAgency Bond
Location (county)Franklin
Location (ADD)Bluegrass ADD
Appropriation Unit435U
Additional Funding? No
Brief Description/Justification:
This project would construct a new building for the School of Business, the University's largest academic program, and one that will play a key role in the University's Strategic Plan. Proposed to be located on the Main Campus south of US60, adjacent to the proposed pedestrian bridge tower which will connect to Hathaway Hall, this facility will provide a highly visible, state-of-the-art home for the Business school that is currently housed in Bradford Hall. The project will permit the development of educational technologies not now available to the school and enable it to meet its mission of providing professional development classes to the entire Frankfort community. This initiative would be the first step in addressing the programmatic and structural issues related to Bradford Hall, current home of the School of Business. The VFA Condition Assessment and Space Study found Bradford Hall to be substandard space for the Business Program and suggested that both the Business School and the Music/Theater programs, also located in Bradford Hall, would be better served in new facilities. The School, with its new MBA program, hopes to grow 5% each year, but is in a competitive disadvantage at its present location.
PROJECT BUDGET
Fund SourcesAmountCost ElementsAmount
General Fund41,796,000Land Acquisition
Restricted FundsSite Survey/Prep71,000
Federal FundProject Design2,712,000
Road FundConstruction Cost32,274,000
Agency BondsMov. Equip/Furn.1,481,000
Other(Private - Cash)Contingency5,258,000
Other(LT Financing)Other(specify)
Other(Local Bonds)
Total41,796,000Total41,796,000
Explanation of Project Budget In-house estimate based on RS Means data.