Extensive renovation work is taking place at the site of the state’s new osteopathic medical school. The Arkansas State University Board of Trustees approved financing the massive renovation of Wilson Hall on the campus of Arkansas State University. The project is expected to cost 12-point-eight-million-dollars. The Board approved an eight million dollar loan that would be short term, in that it would not exceed eight years. The remaining four-point-four million dollars would come from money from Arkansas State University and the New York Institute of Technology, which is partnering with Arkansas State to establish the medical school. NYIT would lease the building from Arkansas State and would provide yearly money to A-State, which would be put toward paying down the loan. A-State would also receive $50 per student that enrolls in the program, once the Doctor of Osteopathic Medicine program starts next fall. When it is fully operational, the program could house 200 to 300 students a year.
In other news, the Board of Trustees approved a change in a lease agreement between the University and the Red Wolf Foundation. The Red Wolf Foundation is taking 17-million-dolars in loans to finance construction and other uses of the renovated press box at Centennial Bank Stadium. Originally, 13 million dollars was approved, but the Red Wolf Foundation has requested for an additional four million dollars to be added to go toward the construction at the stadium.
The Board of Trustees also approved the following naming rights at Centennial Bank Stadium; the Johnny Allison Tower, Wayne and Virginia Baker Gateway, Woodard McAlister Family Club for the club-level area, and one of the ticket booths has been named the International Tours Ticket Booth.
