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Auraria science building a go

By Chris Barge, Rocky Mountain News (Contact)

Published March 25, 2008 at 11:11 a.m.
Updated March 25, 2008 at 4:59 p.m.

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A plan is now in place to build the science building on the Auraria campus after all.

Gov. Bill Ritter this afternoon announced his support for two bills that, combined, would allow construction on the $111 million building to continue. The plan would also provide funding for other higher education capital construction projects.

The first bill would reroute federal mineral lease revenue growth into higher education capital construction projects. The second would authorize the state to use the money to borrow $150 million for projects such as the Auraria science building. This would be done through the issuance of certificates of participation.

“Thanks to the good minds that have been working on this, we were able to look at this and say we have a way to fund this building,” Ritter said.

Higher education officials cried foul after legislators reversed course last Thursday and decided not to continue funding the project. The decision came in response to new revenue forecasts that the state would receive $700 million less over the next five years than predicted.

Construction on the first, $35 million phase of the project began in December. The university had expected to receive another $37.5 million in next year’s budget.

But the Joint Budget and Capital Development committees decided at the last minute to instead only fund projects that could be completed next year, since it looked like funds would dry up completely for at least two to three years after that.

Metro State President Stephen Jordan thanked Ritter and legislative leaders for dealing with the crisis so expeditiously. “They’ve made an important statement to the young people of this state and to our business leaders: that higher education and the economy go hand-in-hand, and that they’re going to put it on top of their legislative and executive agenda. I give them my sincere thanks.”

The bills that would put the plan in place have not yet been introduced. They would need to be passed by the House and Senate before heading to Ritter’s desk for final passage.

Comments

  • March 25, 2008

    12:26 p.m.

    Suggest removal

    Scott writes:

    Typical politicians. After they've been caught short changing education they scramble and find, what was previously non-existent monies to carry through with a promise.

    My my, what a little pressure will do to these spineless wonders.

    Scott

  • March 25, 2008

    2:19 p.m.

    Suggest removal

    Alive writes:

    Everyone knows science isn't important. Only ethnic studies and other feelings related subjects. We have to perpetuate the victim population. Remember that.

  • March 25, 2008

    5:27 p.m.

    Suggest removal

    DeimosJB writes:

    It's great that this important science expenditure will receive continued funding. It is also refreshing to note that at least some percent of the funds will be provided in a fiscally responsible manner, the "rerouting" (or cutting) of funds from another area. It is, however, disconcerting to note that a portion of the money used to pay for this building comes from funds that will be borrowed. In short, our governor hasn't actually solved any problems here, he has just managed to create a larger problem down the road when the borrowed funds become due. Yeah government, create a mountain out of a molehill! I wonder if that counts as being "forward thinking". I also wonder if there would be enough support in Colorado to pass a bill requiring our elected personnel to take (and PASS!) Economics101 before taking office. The oath of office should say "I solemnly swear not to tug on Superman's cape, not to spit into the wind, and not to finance public works projects using borrowed money."

  • March 25, 2008

    8:58 p.m.

    Suggest removal

    justright writes:

    I told you there was plenty of money! 17.1 Billion dollars of tax payers money which is an increase of 5% from 2006 is why there is plenty of money. I am not sure which other goverment program will lose this money but it is always about priorities.

    Now all you people who were complaining about spending money we don't have should take note we are not spending money we don't have. That was never in question because we have a balance budget amendment in Colorado. The real story for a journalist with guts is to follow the money and see who lost out. Who's money was this?

  • March 25, 2008

    10:11 p.m.

    Suggest removal

    kathyM writes:

    The whole situation sounds like a power play with the science center merely the pawn.

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