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The University of New Mexico

NEWS RELEASE



Media Contact: Karen Wentworth (505) 277-5627
kwent2@unm.edu

September 11, 2007

UNM Bonds to Focus on Modernizing, Expanding, Improving Campus Environment

UNM Regents are reviewing an institutional bond issue that will bring millions of dollars in improvements to the UNM campus. The bond issue involves a variety of projects that will help modernize the campus undergraduate classroom environment, improve and expand spaces for the arts, and make the best use of space as some programs move into new quarters.

About $12 million is targeted specifically for classroom modernization, including Mitchell Hall. Those improvements will renew infrastructure deficiencies, improve interior finishes and install modern information technology equipment. There are also funds set aside in this bond issue for Phase 2 of a College of Education Facility and Phase 2 of an addition to the Biology Building.

There will be new areas for the arts. As the Fine Arts Library moves to the top floor of the new Architecture and Planning Building this fall, the bonds will fund a renovation of the space the library is vacating in the Center for the Arts. That space will be remodeled and improved to house the Jonson Gallery. Likewise, the space vacated by the architecture classes as they move from their old buildings south of Central into their new building will be remodeled to house the Tamarind Institute and the Film and Digital Media program.

The bond issue will fund renovation as new programs are moved into spaces being vacated. For example, the Robert Wood Johnson Foundation Center for Health Policy will move into the space now occupied by the Jonson Gallery.

The projected amount of the bond issue is $110 million. Some of the revenue to pay debt service for the bond issue will come from the projects themselves. Some of the revenue will come from partnerships with private developers the university hopes to work with to develop university owned land near the main campus.

Over the next few years, UNM hopes to develop land fronting Lomas Blvd. between University Blvd. and I-25, and land at the western edge of the South Campus near UNM Arena. UNM President David J. Schmidly says the university is also interested in talking with developers about building new student housing on or near the main campus.

The university is preparing to charter a UNM owned 501(c)3 corporation, to be called Lobo Development Corporation, that will actually handle the development projects.

The University of New Mexico is the state's largest university, serving more than 32,000 students. UNM is home to the state's only schools of law, medicine, pharmacy and architecture and operates New Mexico's only academic health center. UNM is noted for comprehensive undergraduate programs and research that benefits the state and the nation.

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