Committees for the University of Alabama System Board of Trustees unanimously approved all items from the finance, investment and physical properties committees on Thursday. All items were approved to be sent to the board for Friday’s meeting for final approval from the board.
Physical Properties Committee
The committee proposed the architectural design of a new ROTC facility and student veterans center on 134th st. costing $12.75 million. A 50,000 square foot addition to the Capstone College of Nursing and a new pedestrian bridge for access between the college and medical center, costing over $80 million, were also proposed.
“The current simulation space cannot meet the needs of a larger student body without expansion and upgrades to technology,” Mike Rodgers, UA system assistant vice chancellor for construction management, said of the Capstone College of Nursing.
The University’s Chi Omega chapter requested a budget increase from its $2.6 million kitchen renovations to $3.2 million for additional renovations to the house director suite, an additional ramp for deliveries and home labor improvements.
Rodgers said that the kitchen area became “increasingly congested with increased membership.”
The committee proposed a resolution to revise the total project budget of the new research and education facility at the Alabama Innovation and Mentoring of Entrepreneurs Center, reducing it $15.7 million to $15 million. The committee also proposed a revised budget for the Betty Shirley Clinic renovation and expansion, reducing the cost from $5.5 million to $3.6 million.
Additionally, the committee proposed a budget reallocation of complete interior and partial exterior renovations of Farrah Hall, moving $1.75 million from the renovation budget to demolition and abatement, with the project’s total cost being over $40 million.
Another proposal was the reallocation of the total project budget of a 48,000 square foot expansion and 19,000 square foot renovation of the Coleman Coliseum basketball training facility costing over $54 million in total. The reallocation moves over $1.3 million from audio visual and technology to other aspects of the project’s construction.
Investment and Finance Committees
At the investment committee meeting, Nolan Bean, chief investment officer for the fund evaluation group, discussed recommendations for the system’s funds and announced that the system’s asset portfolio preliminarily surpassed $7 billion as of Sept. 30, calling the total a “nice milestone.”
The finance committee requested a 10% increase in state appropriations for operations and maintenance for the fiscal year of 2026-2027. It also requested a $638.9 million appropriation for capital improvements.
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