UK Unveils Commonwealth Renovation Plans, Legislators Pledge Support
01/10/2013 09:49 AM
In a joint press conference with Governor Steve Beshear, Speaker of the House Greg Stumbo and Senate President Robert Stivers, UK President Eli Capilouto unveiled plans for several structural upgrades on campus, including renovations to Commonwealth Stadium, and endorsed the idea of self-bonding for UK athletics.
Capilouto said that the school plans to complete renovations to Commonwealth Stadium by 2015 and would cover the $110 million cost themselves. The renovation would encompass luxury suites, “spectator-driven” upgrades to the stadium and a multi-purpose recruiting room. The capacity would stay the same or slightly decrease, but the plan is to improve the “value of the remaining seats”. Also, as a part of the new plans, UK athletics would also fund $65 million of the $100 million going toward a new science building on campus.
The ability to fund these projects though comes down to UK athletics’ ability to bond these projects on their own, which now has the support of the state’s three biggest leaders. Beshear said that the bonds will not result in any new fees and that the plan has bipartisan support. During the presentation, 32 legistlators (17 Republicans and 15 Democrats) stood with the governor in support of the self-financed bonding plan.
You can hear UK’s president, Dr. Eli Capilouto, discuss the plan in the video below.
Be sure to watch KSTV tonight at 7:30pm and 11:00pm for full details and reaction.