WKU News & Events

WKU Regents Approve Amended Master Development Agreement

October 31, 2008

Bowling Green, Ky. - The Western Kentucky University Board of Regents today approved amending the Master Development Agreement with Bowling Green, Warren County, the Warren County Downtown Economic Development Authority and Alliance Corp.

The amended agreement calls for WKU to enter into a 30-year agreement to lease 200 parking spaces in a downtown parking garage at $250,000 per year for 20 years and 300 spaces for $250,000 for the remaining 10 years. If bonds used to build the garage are paid off before 30 years, the lease drops to $1 per year.

In other business:

J. David Porter of Lexington was sworn in as regent. Porter was appointed by Gov. Steve Beshear. Dr. Patricia Minter was also sworn in as faculty regent.
Approved changing the name of the Department of Marketing to the Department of Marketing and Sales.
Approved purchasing 2 acres on Rocky Hill Road in Warren County to be used as a biological preserve under a grant from the Kentucky Land Heritage Conservation Fund Board.
Authorized the issuance and sale of about $49 million in general receipt bonds. Proceeds from the bonds would be used for renovation projects at Van Meter Hall, Ivan Wilson Fine Arts Center and the science complex, expansion of the Preston Center, parking lot expansion and a replacement building for the Gordon Ford College of Business. The bonds are scheduled to be sold in early December depending on market conditions.
Approved construction of a privately-funded chapel and columbarium. The $1.6 million facility will be an interfaith chapel and will be named for the lead donor, David Chandler.

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