Uh oh! Construction on the $160 million new Molecular and Life Sciences building has been indefinitely postponed due to new budgetary constraints, according to the new WSA report from the Board of Trustees. Construction was supposed to begin in 2009 and be finished by 2015, but it’s probably a good idea to put off the plans until there’s actually money to build it:
“You can’t just add, you have to cut,” Roth said. “I’m not going to increase the debt ratio just to get the building up…That’s why we’re having these conversations [about postponing construction] – “there’s a long history of Wesleyan spending money and not investing it properly.”
Roth went on to invoke the financial blunders of past University presidents, including the use of the University’s entire endowment to build the Center for Fine Arts (CFA), which was not yet completed when funds ran out.
…“The University is committed to investing in the sciences, but the upheaval in the financial markets requires us to revisit our original plans,” Bruno said.