| The goal is to develop UMore Park in a manner that furthers the University’s mission. A strategic long-range master plan for UMore Park will be developed that prioritizes University needs and considers current regional planning and development activities. This master plan will be developed in a timely manner, but the execution of the plan and the development of the UMore Park property are likely to require as much as 25 years.
The following principles shall guide deliberations and decisions regarding UMore Park:
- Protect and enhance the value of UMore Park through timely planning and action.
- Advance the University’s research, education, and engagement mission through the physical and financial resources that UMore Park will provide over the long term.
- Improve the long-term financial health of the University through application of sound fiscal principles and stewardship, including investing the income generated through UMore Park in ways that support academic priorities to complement, supplement, and leverage state and private support.
- Retain oversight of UMore Park’s planning and development and remain accountable for the master plan.
- Plan in such a way so as to optimize the value of UMore Park utilizing short-term strategies without restricting options for long-term strategies.
- Utilize market value as a benchmark in assessing alternative development strategies.
- Ensure that all planning and development activities are conducted with the highest standards of fairness, integrity, and sound business practice.
- Respect the needs of neighboring communities and local, regional, and state governments.
-- Board of Regents, February 6, 2006
View a chronology of Board of Regents decisions related to UMore Park (23 KB PDF).
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