UT System Board of Regents Approves $196 Million in Funding for the New University and Medical School
AUSTIN — Today, at its November monthly meeting, the University of Texas System Board of Regents approved $196 million in funding from the Permanent University Fund (PUF) for capital projects associated with UT-Pan American, UT-Brownsville, and the new medical school. This marks a significant first step in the transformation of the Rio Grande Valley through education that will have tremendous benefits for our families.
Senator Juan "Chuy" Hinojosa, author of the legislation to create the new university and medical school, welcomes the expenditures by the UT System:
"For the first time, the new university is eligible to receive PUF monies and I am pleased that the UT System Board of Regents voted to approve funding for a $54 million medical academic building in anticipation of the new medical school and $142 million for undergraduate academic buildings in both Hidalgo and Cameron Counties."
"Confirming the allocation of these funds advances the goal of expanding access to educational opportunities and medical education which will increase access to care for our Valley families and decrease our physician shortage. This is just the beginning. With future funding and construction projects, we are finally transforming a dream into a reality to benefit all of South Texas," Senator Hinojosa stated.
For the first time ever, PUF money will go to South Texas for new construction. Up until now, UT-Pan American and UT-Brownsville have not been PUF eligible schools. With the creation of a new university, access to these monies can finally put the universities in the Valley on par with other universities statewide.