Office of the Vice President for Global Communications

Friday, December 16, 2011

A roundup of other Board of Regents action

The following items were approved or heard by the Board of Regents at its meeting Thursday.

MINTS initiative, guidelines

Regents approved the Michigan Investment in New Technology Startups initiative and its guidelines.

Through the new initiative, the university could inject up to $25 million during the next decade into select venture-funded U-M startups — new companies built around inventions born in faculty members’ labs.

Investments of up to $500,000 will be made in single-round financing, and up to $1 million in second rounds if $500,000 is insufficient to secure participation in that round.

Schematic design for Law Quad residential renovations

The regents approved the schematic design for renovation of the Charles T. Munger Residences in the Lawyers Club Building and John P. Cook Building.

The renovation of the Law School's living spaces, approximately 92,000 gross square feet, will address infrastructure needs including new plumbing, heating, ventilation, fire detection and suppression systems, wired and wireless high-speed network access, and accessibility improvements.

The estimated cost of the project is $39 million. Funding will be provided from a gift, investment proceeds, and resources from the Lawyers Club of the University of Michigan.

Capital outlay request to the State of Michigan

In November, the Ann Arbor, Dearborn, and Flint campuses each submitted annual requests for capital funding and a five-year capital plan to the State of Michigan.

The Ann Arbor request is for the renovation of the George Granger Brown Memorial Laboratories building, with a project cost of $47 million.

The Dearborn request is to renovate the Science Building and the Computer Science Building with their shared infrastructure for $51 million.

The Flint request is to renovate the classrooms and laboratories in the Murchie Science Building for $22.17 million.

Bid authorization for G. G. Brown project

The regents authorized issuing bids and awarding construction contracts for an approximately 62,500-gross-square-foot addition to the George Granger Brown Memorial Laboratories building to support the Department of Mechanical Engineering's research endeavors in biosystems, energy, and nanosystems.

The project, estimated to cost $46 million, is being funded by College of Engineering resources, gifts, university investment proceeds, and a federal construction grant from the National Institute of Standards and Technology.

Construction on the addition is scheduled to be completed in the summer of 2014.