COLUMBUS - The Ohio State University Board of Trustees Friday (10/6) heard a proposed parking plan that recommends three new garages and at least 1,500 new parking spaces to serve the South Campus and Medical Center areas.

Barbara Chance, president and CEO of CHANCE Management Advisors, Inc. presented the South Campus/Health Sciences District Parking Plan. Because of the rapid pace of development in this area, it is imperative that sites are reserved now for new parking facilities, or the university not only will experience a severe parking shortage, but also will be unable to effectively remedy the situation, Chance said.

South campus is defined as the area east of Neil Avenue, south of South Oval Drive, west of High Street and north of West 10th Avenue. The Health Sciences area is roughly defined as lying west of Neil Avenue, north of King Avenue, east of the river and south of the recreation fields and tennis courts.

The parking plan recommends three garages in that area: near Rhodes Hall (for patient and medical staff, freeing up spaces in other areas); behind Cunz Hall in the vicinity of the Larkins addition (for permit holders); and directly behind the 11th Avenue garage, on 10th Avenue (which could incorporate housing for medical students), Chance said. It recommends phased construction of garages at Lane Avenue (across from the Fisher College of Business), the Rhodes Hall lot, and Cunz Hall lot "as quickly as possible," with later construction of the Tenth Avenue garage.

Funding would come from resources already available to Transportation and Parking Services.

The draft South Campus/Health Sciences District Parking Plan was prepared by a consultant team led by CHANCE, after an exhaustive study which included interviews with Health Sciences faculty and deans; University Senate leadership; staff, student leaders and community representatives, including the City of Columbus and Campus Partners. It is in step with a five-year Transportation and Parking Master Plan approved by trustees in 1998, which addresses the need for additional parking garages, permit fee increases over the next three years, rehabilitation of the north and south medical garages, and preventive maintenance and scheduled replacement of buses.

The draft was presented to the board for review and comment. It will be presented at a later date for action. The entire parking plan can be accessed via Transportation and Parking's Web site at www.tp.ohio-state.edu., which includes a bulletin board for posting comments.

Trustees hear report on endowment fund

University Treasurer James L. Nichols updated trustees on the university's endowment, which stands at $1.31 billion. In his quarterly report, Nichols stated the endowment stood at $1.29 billion as the quarter ended June 30. In comparison, the endowment was $345 million in 1990, Nichols said. The total number of funds now exceeds 2,838.

The return for the fiscal year ending June 30 was 20 percent, while the five-year rate of return was 18.3 percent. Nichols said the university's 20 percent rate of return on its investments is significantly greater than the 7 to 8 percent for the average college or university. The amount distributed to colleges and departments last year was $45.7 million.

Trustees also authorized Nichols and/or the senior vice president for business and finance or the vice president for business and finance to buy, sell, assign, and transfer any and all stocks, bonds, interest, or securities applicable to managing the endowment.

Strategic investment fund approved

Trustees approved a proposal for the establishment of a Strategic Investment Fund allowing for flexible allocations of cash to implement the Academic Plan. Initially, the fund will be comprised annually of $5.5 million in general funds freed up by making the Office of Development self-supporting (approved by trustees in July), $3 million in Research Challenge funds already appropriated, and additional funding sources as approved by the board. The account can be increased to up to $25 million annually.

The Strategic Investment Fund may be expended at the discretion of President William E. Kirwan, in consultation with Executive Vice President and Provost Edward J. Ray, for one-time investments related to strategic goals, including but not limited to facilities, start-up packages, equipment and professional development. The Research Challenge funds used will support only investments related to research in consultation with the vice president for research and consistent with all applicable state laws and policies.

The amount of money available in the account will be included in the annual budget process, and Kirwan and Ray will update trustees annually on the sources and uses of such funds and how those uses further the academic goals of the university.

Trustees approve construction work

Trustees authorized the university to hire architects and engineering firms and to seek construction bids for three projects, and approved contracts awarded for five others.

· Designers will be hired and bids sought for a $1 million Theater Addition to Reed Hall on the Lima Campus. Funding is provided by donations to the Lima Campus.

· Renovation of the primary teaching auditorium used by the College of Veterinary Medicine, room 1067 of the Veterinary Hospital, will proceed at a projected total cost of $684,000.

· A new vibration monitoring system for the backpressure turbine generator in the McCracken Power Plant will be installed. Estimated cost is $300,000.

Trustees also heard reports of contracts awarded for:

· Replacement of the 1957 and '59 sections of Sisson Hall for the College of Veterinary Medicine, expected to be completed by April 2003. Total cost is $26 million.

· Renovation of Medical Parking Garages H & J at a cost of $11 million, to be completed by November 2001.

· Addition of two cardiac catheterization labs in Rhodes Hall at a cost of $3.1 million, funded by University Hospitals, to be completed this fall.

· Construction of a 52-stall barn and associated space for the Agricultural Technical Institute in Wooster, to be completed this fall. Projected cost is $1.1 million.

· Upgrades to restrooms, elevators, hallways and corridors are underway at Campbell Hall. The $1 million project is expected to be completed this fall.

Transfer of property approved

Trustees also approved the transfer of property at 1900, 1960 and 1991 Kenny Road, from the University Endowment to the General Fund. The land will continue to be used by the University and will be maintained by the Department of Physical Facilities.

Easement approved

The university has been authorized to grant Columbia Gas of Ohio, Inc. an easement across university property located along West Lane Avenue near the intersection of North Star Road. The 25-year easement gives Columbia Gas use of a 25-foot wide, 600-foot long strip of land to install a gas line adjacent to a service road located at the rear of properties near the southwest corner of the intersection, near the boundary line for the State Data Center.

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