Based on recent news from the state about fiscal year (FY) 2022-23 capital budget planning that favors renovation projects over new construction, CU Denver will pursue a shift in funding strategy for FY 2022-23 that will lead with the CU Denver Building Infrastructure Renewal project, followed by the new College of Engineering, Design and Computing (CEDC) building.
Based on current trends, CU Denver will have a greater chance of success in securing state funding with a capital renewal and renovation project request in FY 2022-23—specifically, replacing and upgrading aged mechanical and electrical infrastructure within the CU Denver Building, said CFO Todd Haggerty.
“As an institution, we continually assess and reassess our financing strategy for our facilities with respect to funding requests from the state,” Haggerty said. “As a matter of practicality, we must remain nimble to meet the funding priorities of the state as they evolve, which we intend to do.”
This change in financing strategy is not a change in business strategy or priority for CU Denver but simply a shift in the way it seeks funding, Haggerty emphasized. Investing in both engineering, design, computing, and cross-disciplinary programs and in the CEDC’s state-of-the-art building are top priorities for CU Denver. Market demand for the CEDC programs continues to increase as the jobs of the future require innovation, technical acumen, and complex problem-solving skills—and CU Denver needs the facilities to train the future workforce.
CU Denver will continue to keep the new engineering building on the request list for state funding while it pursues other sources of funding, including public/private partnerships and renewed fundraising efforts.