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Committee questions $15M proposal from Higher Education Trust Fund to finish UVM project
Summary
The administration proposes a one-time $15,000,000 appropriation from the Higher Education Trust Fund to help complete a stalled multipurpose center at the University of Vermont; members raised statutory, policy and equity concerns and asked that UVM and other stakeholders appear to make the case.
Deputy Commissioner Hardy Merrill explained to the House Appropriations Committee that the University of Vermont's multipurpose center — a project started in 2020 with about $76 million already spent and roughly $40 million in committed private donations — needs an estimated $100 million to finish. The administration is proposing a one-time $15,000,000 appropriation from the Higher Education Trust Fund to help leverage further private donations and finish construction.
Merrill described the mechanics and the rationale: the fund recently received an unexpected estate-tax inflow of…
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