The Daily Pennsylvanian is a student-run nonprofit.

Please support us by disabling your ad blocker on our site.

Fundraising efforts for the $60 & million Revlon Center are on sche - dule, but development officials are waiting for the building's plans to be finalized and approved. Rick Nahm, senior vice president of planning and development, said this week that $15 million of the $30 million expected to come from & pledges has been raised, and the University has about $3.5 million in hand. But Nahm added that he needs to know exactly what spaces will exist within the campus center before he can seek the rest of the money. "It's always hard [to raise mo - ney], particularly in this economy," Nahm said. But having the plans in hand, he added, "makes it less & difficult." Vice Provost for University Life Kim Morrisson said earlier this & week that she expects plans for the Revlon Center to be completed for approval by the University Trustees in June, about a year later than some earlier estimates. Nahm said he hopes to see a set of working plans in February or & March in order to get a head start on completing the fundraising & effort. "[We hope to get] something be - fore the reunions in May," he said. "That will help a lot." The $60 million center will be fi - nanced through Nahm's office's ef - forts as well as a $10 million pledge made by the Revlon Foundation in 1988. The remaining $20 million is expected to be generated by re - venue from leasing space to the & Book Store, retail shops and re - stuarants, Nahm said. Nahm said he hopes to dot the walls of the center with plaques re - vealing the names of donors. He added that most campus buildings have been funded through loans, not a combination of donations. "[The Revlon Center is] going to be the most expensive single con - struction project in the history of the University," Nahm said. "When you get up to that level, you simply don't have that many people willing to donate the full amount." "We assumed that if we got a lead gift of $10 million, we could go for - ward with the project," he ex - plained, adding that the University did not ask anyone to donate an entire campus center. "The Revlon Foundation is really to be com - mended for that donation up front." The Revlon Foundation's gift has financed the project thus far, pay - ing the bills for the architects as the years have progressed, Nahm said. The entire lump sum is not cur - rently in the University's & possession. "The Foundation makes pay - ments as we spend money," he said.

Comments powered by Disqus

Please note All comments are eligible for publication in The Daily Pennsylvanian.