The University of the Virgin Islands Board of Trustees gave the go-ahead Saturday for UVI to purchase more than 200 acres of land to the west of John Brewers Bay with an eye toward future expansion of the St. Thomas campus.
Meeting for much of the day at the William P. Maclean Marine Science Center on the St. Thomas campus, the trustees also heard that, for the first time in a long time, the V.I. government is current in its allocations to the university.
The land will be purchased from Henry L. Kimelman for about $2.3 million, utilizing quasi-endowment capital funds. Board chair Auguste Rimpel Jr. reported that Kimelman initially wanted $2.7 million but agreed to $2.3 million and pledged to donate $100,000 to the university.
UVI President Orville Kean is expected to enter into an agreement for the university to pay $344,672 on the date the contract is executed, another $300,000 at the closing and the $1.7 million balance in 20 quarterly installments, including interest, of $34,000 each.
Rimpel, a senior partner with Pricewaterhouse Coopers, said the administration's release of the funds appropriated by the 23rd Legislature has allowed UVI to carry out its primary mission. He praised Gov. Charles W. Turnbull for his support of the university. Turnbull, a retired UVI faculty member who serves on the board by virtue of his position as governor, was at Saturday's meeting.
The timely release of the allocated funds reportedly came about as the result of a series of meetings involving Kean, budget director Ira Mills and Turnbull. Kean told the trustees that he has received a copy of correspondence from Mills authorizing Finance Commissioner Bernice Turnbull to update the financial management system to reflect the "full appropriation to the university of $24.8 million" as authorized by the Legislature and approved by the governor.
In other action:
– Kean reported that LaVerne Ragster was recently named UVI senior vice president and provost. She had held the title in an interim capacity since a new administrative structure was implemented last year. "Dr. Ragster has a long, distinguished record with UVI," Kean said.
– UVI administration and finance vice president Malcolm Kirwan outlined a plan to create a university research park. More than 144 such parks nationwide "represent a dramatic new development in universities," he told the trustees, bringing "new business formation, technology transfer and technology creation to the workplace." He described the research park as having the potential to enhance not only instruction and research but also the university's pubic service initiatives.
– The board approved the recommendation of its Finance and Budget Committee that the university request $29 million in funding for fiscal year 2001.
– The board unanimously re-elected Rimpel chair and Alexander Moorhead vice chair for another one-year term.
