RESOLUTION GRANTING APPROVAL OF THE INITIAL PHASE OF THE CAPITAL

IMPROVEMENT PROJECTS FOR THE ST. THOMAS AND THE ST. CROIX

CAMPUSES OF THE UNIVERSITY OF THE VIRGIN ISLANDS AND AUTHORIZING

THE PLANNING AND IMPLEMENTATION OF THE CAPITAL IMPROVEMENT

PROGRAM



WHEREAS, in October of 1999, the Board of Trustees approved the concept for a capital

improvement plan for both campuses of the University of the Virgin Islands (the "University") as

outlined in the Campus Master Plan; and .



WHEREAS. it is necessary for the University to finalize and implement the conceptual plan-

for the Capital Improvement Projects to give meaningful direction to the University and to greatly

enhance the effective use of the University’s limited resources; and



WHEREAS, both the Board of Trustees of the University and the Administration have

acknowledged that future development of the University is closely tied to the development and

implementation of a capital improvement plan; and



WHEREAS, the funding source for the initial phase of the Capital Improvement Projects is

$9 million in general obligation bonds and $3 million grant from the Federal Emergency

Management Agency for Hurricane Marilyn recovery efforts, an aggregate of $12 million;



NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE

UNIVERSITY OF THE VIRGIN ISLANDS AS FOLLOWS:



1. That the design, permitting, and construction of the projects contained in the Initial

Phase of the Capital Improvement Plan, as outlined in Attachment I hereto, are hereby APPROVED

at the estimated budget amounts, more or less, subject to the following funding conditions:



(A) Cluster A Projects to be funded from proceeds of the UVI 1999 Series

‘A’ Refunding and Improvement bonds in the total amount of $9 million dollars;



(B) Cluster B projects to be funded subject to the receipt of $3 million from

the proceeds of a FEMA Hurricane Marilyn Reimbursement grant;



(C) Cluster C projects to be funded subject to the availability of other funds

in the total amount of $3.4 million to be approved in advance by the Finance

Committee.



pu That the Board of Trustees authorizes the President and the Vice President of

Administration and Finance to finalize the budget estimates for each of the projects without affecting

the individual project objectives to be achieved or exceeding the total funding allocation for each

Cluster, and to take all other necessary actions to provide for the planning, implementation, and

execution of the Initial Phase of the Capital Improvement Plan;

CERTIFICATION



The undersigned does hereby certify that the aforegoing is a true and exact copy of a

resolution of the Board of Trustees of the University of the Virgin Islands adopted at its meeting on

March 4, 2000, as recorded in the Minutes of said meeting.



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(VT jurlke, adr

Orville Kean, Ph.D.,

Secretary of the Board of Trustees