Regents Authorize Bond for Life Safety Work and Use of Private Funds for Kibbie Renovation Design
Thursday, February 18 2010
Written by Tania Thompson
MOSCOW, Idaho – The University of Idaho's iconic ASUI-Kibbie Activity Center moves closer to the final phase of life safety work and the next phase of design for renovation and enhancement.
In action at the Idaho State Board of Education meeting in Boise, the university's Board of Regents approved the university's request for the authority to issue bonds to pay for life safety work and authorized the university to implement the design phase, using private funds, for enhancements and improvements in the dome.
"We appreciate the regents' action today to authorize us to issue bonds to pay off work completed on the west end wall of the ASUI-Kibbie Activity Center, and to fund the cost of the final phase of that life safety work to replace the east end wall as well," said Lloyd Mues, vice president for finance and administration. "The savings over time through this action, even during challenging economic times, will ensure the best stewardship of funds and the overall safety of the Kibbie facility for everyone."
Under authority granted by the board, the university would issue four series of general revenue bonds and lock in lower interest rates on refunding bonds, and use new general revenue bonds to fund the next phase of life safety and code improvement work to the Kibbie Dome, including replacement of the east wall. The bonds would total $23 million.
The university replaced the west end wall in 2009 with material that meets current codes. Construction and other costs for the east end wall replacement are estimated at $11 million. Integrated into the east end wall is the Vandal Athletic Center and systems that include game-day-related electronics such as scoreboard and video panels.
The expansion and renovation work planned for the ASUI-Kibbie Activity Center is separate from the building's life safety needs. The action by the regents approved the university's use of up to $671,000 in private funds to implement the design phase – consulting, design and vendor contracts – for game day enhancements, including:
- a new media and game operations box above the north concourse and seating area;
- suite-style seating boxes on the south concourse area;
- club seating areas to be located on the south concourse/seating area; and
- other improvements and enhancement for spectator comfort
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About the University of Idaho
Founded in 1889, the University of Idaho is the state’s flagship higher-education institution and its principal graduate education and research university, bringing insight and innovation to the state, the nation and the world. University researchers attract nearly $100 million in research grants and contracts each year; the University of Idaho is the only institution in the state to earn the prestigious Carnegie Foundation ranking for high research activity. The university’s student population includes first-generation college students and ethnically diverse scholars. Offering more than 130 degree options in 10 colleges, the university combines the strengths of a large university with the intimacy of small learning communities. The university is home to the Vandals, the 2009 Roady’s Humanitarian Bowl champions. For information, visit www.uidaho.edu
About the University of Idaho
The University of Idaho helps students to succeed and become leaders. Its land-grant mission furthers innovative scholarly and creative research to grow Idaho's economy and serve a statewide community. From its main campus in Moscow, Idaho, to 70 research and academic locations statewide, U-Idaho emphasizes real-world application as part of its student experience. U-Idaho combines the strength of a large university with the intimacy of small learning communities. It is home to the Vandals. For information, visit www.uidaho.edu