{"id":1004159164,"date":"2016-11-16T03:46:07","date_gmt":"2016-11-16T11:46:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004159164"},"modified":"2022-12-08T09:51:20","modified_gmt":"2022-12-08T17:51:20","slug":"ut-regents-approve-392m-in-puf-proceeds-for-capital-projects","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ut-regents-approve-392m-in-puf-proceeds-for-capital-projects\/","title":{"rendered":"UT Regents Approve $392M in PUF Proceeds for Capital Projects"},"content":{"rendered":"

By Anca Gagiuc, Associate Editor<\/em><\/p>\n

\"University<\/a>

University of Texas MD Anderson Cancer Center<\/p><\/div>\n

Austin, Texas<\/strong>\u2014The University of Texas System Board of Regents<\/a> recently approved $392.2 million from Permanent University Fund bonds as a source of funding for nine capital projects at UT academic and health institutions.<\/p>\n

For the first time, this year\u2019s provision includes cross-institutional facilities funding<\/a> for a first-of-its-kind collaboration, encouraging UT System institutions to operate as a \u201cteam of teams\u201d. At Chancellor William McRaven\u2019s recommendation, Regents approved $45 million in PUF bonds for a cancer collaboration among UT MD Anderson Cancer Center, UT Health San Antonio, UT Health Northeast, UT Medical Branch in Galveston and UT Austin\u2019s Dell Medical School. The funds will be divided roughly equally among the five institutions either to renovate existing facilities or build new ones. It could also be directed toward the acquisition of equipment and information systems.<\/p>\n

\u201cThis is a milestone moment for The University of Texas System,\u201d Chairman Paul Foster said in a prepared statement. \u201cThe board fully supports Chancellor McRaven\u2019s approach of driving partnerships and incentivizing collaboration. Imagine the greater impact the UT System can have on Texas, the nation and even the world, if we pool the collective, extraordinary talent and resources spread across UT\u2019s 14 institutions.\u201d<\/p>\n

Following last year\u2019s nine-step Quantum Leaps initiative, the System is developing a collaborative UT Health Care Enterprise that will leverage its size and expertise and connect its regional capabilities. \u201cOne of the pillars of this critical Quantum Leap is to develop UT Systemwide service lines, starting with cancer and building upon the expertise and stellar reputation of UT MD Anderson,\u201d McRaven added. \u201cFour separate collaborations are being developed between UT MD Anderson and sister UT entities, leveraging unique strengths at each institution.\u201d<\/p>\n

The $347.2 million is marked out as a source of funding for several facilities at UT academic and health institutions, whose presidents were asked to prioritize projects. The individual campus projects are:<\/p>\n