UNIVERSITY GATEWAY CENTER
PERTINENT FACTS
The Board of Regents, at its regular meeting on February 12, 1999, approved the construction of the University Gateway Center at a cost not to exceed $17,500,000. The estimate preceded design of the building. Further, a substantial increase in cost was required due to unexpected expansion associated with on-site utilities. As a result of the unexpected increased costs it would have been necessary to shell the third floor of the administrative wing of the project in order to remain within the $17,500,000 amount. With the establishment of a formal University of North Texas System’s structure, it is appropriate to finish out the third floor of the Gateway office tower to provide appropriate office space for the System. The estimated additional cost is $250,000.
RECOMMENDATION TO THE BOARD OF REGENTS
It is recommended that the Board of Regents approve an increase in the project budget to a total cost not to exceed $17,750,000.
Source of Funds: Tuition Revenue Bonds and gifts