Kelsey Harrell, The Daily Iowan
On May 1, during an informational meeting on West Campus, University of Iowa President Bruce Herreld discussed the importance of the P3 in funding the UI's strategic plan.
Tuition revenue and state support are the two primary funding sources for the state Board of Regents, but as students increasingly shoulder the cost of financing their education, University of Iowa President Bruce Harreld said on Wednesday the potential public/private partnership for the institution’s utility system could make up for the gap in funding the UI strategic plan.
“If we don’t do this deal, we’ve got to rethink our strategic plan and our objectives,” Harreld said at a public-information session at the Medical Education & Research Facility.
Amid continually tuition hikes and cuts to funding for the regent universities, UI officials have identified this potential 50-year agreement between the UI and a private firm as an opportunity to open up a new revenue stream.