UK is getting one step closer toward a $275 million infrastructure project.
Legislation filing House Bill 7 is the first step in the process that will bring the projects to life.
House Bill 7, sponsored by Rep. Rick Rand, D-Bedford, would allow UK to move forward with three projects, without using any state and general funds, according to a UK news release.
UK’s self-financed projects, as part of its BBNunited campaign, include:
— A $65 million renovation and expansion of the Gatton College of Business and Economics.
— A $100 million new Science and Academic Building.
— A $110 million renovation of Commonwealth Stadium and the Nutter Training Center.
Instead of depending on state General Fund money, the university will pay the debt service. On Tuesday, House Speaker Greg Stumbo said he thinks the bill “will fly through the HOUSE maybe this week” according to the Lexington Herald-Leader.
The House Appropriations and Revenue Committee has a hearing Wednesday to vote on House Bill 7.
“With the support of the governor and legislators across the state, we have found a path to move forward with the critical revitalization of our campus, working with athletics, generous donors and through greater internal efficiency,” Capilouto said in the news release. “The filing of legislation represents one more important step in this process. We look forward to continuing to talk with policy leaders and the Big Blue Nation that has rallied around this initiative.”
If this bill passes, it will continue to be voted on in the full House and state Senate. Read House Bill 7 at www.lrc.ky.gov/record/13RS/HB7.htm.