VI. FACILITIES

The Strategy for Wesleyan included a thorough review of the facilities necessary to attain the plan’s strategic goals and planning for the Wesleyan Campaign incorporated the fundraising required to construct these facilities. The Facilities Masterplan study completed during the 2002/03 academic year confirmed that the plans for facilities and their sites will meet the university’s needs into the next decade. The Masterplan also developed the framework for integrating the new facilities into the campus as part of a complete campus plan, with common standards and themes to create a coherent whole from the segmented parts.

The Facilities Plan comprises approximately $311 million in construction or major renovation projects, of which the majority (approximately $200 million) will be funded by tax-exempt bonds issued through the Connecticut Health and Education Financing Authority (CHEFA). The source of debt service and repayment of bonds is unrestricted moneys raised through the Campus Renewal Fund (CRF) which, used in conjunction with the annual Major Maintenance budget, allows the university to take advantage of its favorable credit rating and significant debt capacity. Unrestricted gifts for the CRF will need to equal $4-5 million annually during the remainder of this decade and as much as $2.5 million annually in later years until the bonds are repaid.

Table B lists the planned sources and uses of funds for all of our proposed facilities projects. With the exception of the molecular and life sciences building, the projects shown in Phase 3 will to be supported primarily through restricted fundraising efforts. Guidelines specifying funds pledged and funds-in-hand required to begin design and construction of gift-funded projects will ensure that the university does not over-extend financially.

While we focus on major projects for the future, we should not forget that we have successfully renovated all our classrooms, providing them with new furniture, improved lighting, and other features. In addition, state-of-the-art technology that helps improve learning has been installed the majority of teaching and learning spaces. As evidenced by the most recent senior survey, in which 98 percent of them noted that they were very satisfied with Wesleyan’s classroom facilities, Wesleyan students appreciate these facilities.