UVM trustees approve $1 million for arena design development

The University of Vermont's Board of Trustees on Saturday signed off on $1 million in gift funds to push the school's proposed arena project to the next phase.

The money will support the design development portion of planning for the project, with an update to be provided at the board's February 2018 session.

"I'm very encouraged by today's decision to move forward with the next phase of planning for the Multi-Purpose Facility project," UVM athletic director Jeff Schulman said in a statement. "This decision is another example of the momentum that is building in support of this critical project and keeps us on track for a construction start in early 2019."

The UVM Board of Trustees approved the initial concept for the project in February, authorizing funds to begin the schematic work as well as to develop cost and funding plans. 

The funds are in addition to two recent $1 million gifts the school has received for the project.

The Vermont Cynic reported from Friday's board session that the UVM Foundation has closed "north of $5 million" in donations for the new athletic complex. And the current funding plan calls for $20-25 million in private fundraising to make the facility a reality.

The $80 million concept would create a new home for the varsity basketball programs and provide a revamp of the existing athletics complex. 

The project would keep UVM hockey at Gutterson Fieldhouse and build a new events center adjacent to the ice rink that would replace Patrick Gymnasium as home of the school's basketball programs. The proposal also calls for expanded space for student recreation and wellness facilities, from 15,000 to 86,000 square feet.