The University announced plans to halt the public-private partnership (P3) at the Dec. 2 Board of Regents meeting. 

President Bob Jackson said the COVID-19 pandemic led to a number of issues including inflation and labor shortages, which ultimately led to the decision to halt the project. 

Vice President of Finance Jackie Dudley said there are some risk factors involved, including supply and labor chain issues and interest rates. 

“The project has been bid by Rise and our partners, and as costs began to come in from subcontractors, we learned quickly that the cost of construction is more than we would have hoped,” Dudley said. “Interest rates are in an unprecedented place right now, and they have actually increased at an unprecedented speed, so all of those factors together made us really step back and look at the project as we were to proceed.”

Rise Development, LLC, the company approved to execute pre-development plans, has requested the board extend its pre-development agreement from June 30, 2023, to Dec 30, 2023. 

Dudley said the administration plans to monitor the project and meet regularly with Rise to determine when it would make sense to advertise bids again.

The Board voted in favor of retiring eight degree programs on Friday, Dec. 2 based on data that indicates low graduation rates. 

According to the Murray Ledger and Times, these programs are: Teacher Education and Professional Development, Teacher Education and Professional Development/Elementary, Teacher Education and Professional Development/Middle School, Global Language/Japanese Translation & Interpretation Track, Global Language/Japanese Teaching Certification Track, Global Language/Japanese Track, Creative Writing — Bachelor of Fine Arts and Creative Writing — Master of Fine Art.

Faculty Regent Melony Shemberger said that while the Japanese tracks are being retired, a minor and certificate option will still be available to students.

The creation of a new degree program, Master of Science and Wildlife Conservation Biology was also approved by the Board. 

The next quarterly Board of Regents meeting will be held on Friday, Feb. 24, 2023.