Committee forwards multiple capital authorizations including Bailey Hall facade, Barrows Hall chiller, sawmill center, vessel purchase and 7 Customhouse buy

The University of Maine System’s finance committee on Thursday approved a package of capital authorizations and property actions that will be forwarded to the full Board of Trustees for final action.

Key items approved by committee vote to be forwarded to the board include: • Bailey Hall (University of Southern Maine): authorization to expend up to $4,450,000 for phase zero design and construction and phase one design of a multi‑phase façade replacement and chilled water plant. The project is part of a 10‑year plan with an estimated total cost of about $26 million. • Barrows Hall (University of Maine): authorization to expend up to $1,000,000 to replace a repeatedly failing ESRB wing chiller, funded from ENG funds to create a more permanent repair. • Morse Arena (University of Maine): authorization to expend up to $16,000,000 for construction, funded by the Harold Alfond Foundation grant and matching gifts; staff cautioned that short‑term interim borrowing (staff estimated $5–10 million) may be needed to manage construction cash flow while gifts are received. • Sawmill Training and Education Center (Old Town): authorization to expend up to $750,000 to construct a sawmill training center in the Dwight B. Demeritt Forest to support forestry education and experiential learning. • School of Marine Sciences: authorization to purchase a 45‑ft MDI commercial research vessel named Aaron and Sarah for a total value of $552,500, which includes a $127,500 gift‑in‑kind component; committee approval was required because the in‑kind gift pushed the asset value above the committee threshold. • Real estate: authorization to exercise a purchase option for 7 Customhouse Street in Portland for $20,000,000 (appraisal $20.1M) and to issue an internal loan up to the contract price plus closing costs; Harold Alfond Foundation funding will cover principal and agreed sources will cover internal borrowing costs.

Committee members took roll call votes on each resolution; all were approved by the committee and will be presented to the full board for final action where required. Trustees pressing questions included whether projects remain within previously approved total program budgets (Morse Arena) and whether gifts supporting capital purchases are committed; staff said most major gifts are committed but timing of receipts may require interim borrowing.

What’s next: The committee forwarded each authorization to the full Board of Trustees for its January meeting. Finance staff said they will provide additional detail about funding timing, procurement and any required interim borrowing prior to the board vote.