Financing Package Owes Debt to Students' Willingness to Pay

The School of Nursing and Student Community Center building project was financed through a combination of funding sources—including philanthropy, $17.5 million in tuition revenue bonds from the Texas Legislature and $32.5 million--more than half the cost of the building--in institutionally financed revenue bonds, supported by increases in student fees and auxiliary enterprises such as bookstores and cafeterias.

The total project budget of about $63 million was calculated in 1996 to include the construction costs of the new building, relocation of some administration offices, deconstruction of a small existing building and site preparation, as well as fees and contingencies. Construction costs totaled $40.5 million.

"We are indebted to the students who embraced the vision for the new School of Nursing and voted to support an increase in the student general use fee so that this new facility would come to fruition," said UT Health Science Center at Houston President James T. Willerson, M.D. "In the end, they will benefit greatly--and so will the people throughout Texas who need high-quality nursing care and more nursing research discoveries."