Tapping into its nearly a $1 billion public-private partnership (P3) endowment fund, the University of Iowa plans to invest $15 million to support various projects across campus, anchored by dance center and pharmacy renovations, program expansions and staff retention.
How much does the UI have available in P3 funding?
The P3 funding originated in 2020, when the Iowa Board of Regents approved the University of Iowa’s 50-year partnership with ENGIE North America and Meridiam.
ENGIE paid $1.1 billion upfront to manage the UI’s utility system for 50 years. In 2020, the university spent $153 million to pay off existing debt and $13 million to cover consulting fees.
The remaining money, around $999 million, went into endowment as part of the University of Iowa’s Strategic Plan. The five priorities from 2022 to 2027 include: excellence in teaching and learning, innovative research and creative discovery, welcoming environment, holistic well-being and success, and transformative societal impact…