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Monmouth, IL – Monmouth College says it's nearing a ground breaking ceremony for its new $38 million academic complex, the first new academic building planned on campus since 1990.
College spokesman Barry McNamara says the school has raised more than $5 million over the past few weeks to put toward the project, including some seven figure donations and endowment gifts.
McNamara says bigger initiatives are also on the horizon.
"Another trustee has stepped forward with a challenge," McNamara explains. "He's donated a certain amount of money, and he's going to then match what other people donate. I think the whole package for that could be worth another $6 million."
Add that to various smaller gifts in addition to the $5 million, and an initial $5.5 million gift from current Board of Trustees Chairman David Byrnes... and McNamara says the college might be able to break ground shortly after students leave campus this spring.
The new academic complex will be located along Broadway between 6th and 7th streets, diagonal from the Huff Athletic Center. The building will house the college's business and various science programs.
The new building does not yet have a name. That's, in fact, another way people can donate to the project. McNamara says there are between 30 and 40 naming opportunities at the center, varying from individual rooms, to wings, to the entire building.
Much of the $38 million will be funded through grants and private fundraising. McNamara is unsure if the private liberal arts college is eligible for state assistance.