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UVA Strategic Plan Price Tag Estimated at $564M - NBC29 WVIR Charlottesville, VA News, Sports and Weather

UVA Strategic Plan Price Tag Estimated at $564M

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University of Virginia University of Virginia
CHARLOTTESVILLE, Va. (AP) - The University of Virginia estimates it could cost more than a half-billion dollars to implement a five-year strategic plan, according to a university analysis obtained by The Daily Progress through an open records request.

The newspaper says the analysis shows faculty pay raises and new professors' salaries account for more than one-fourth of the estimated $564 million cost. The university expects to hire 425 new professors and replace 295 retiring faculty.

Philanthropy and increased enrollment are expected to cover much of the cost.

UVA executive vice president and chief operating officer Patrick D. Hogan tells the newspaper that the estimates are preliminary. He says a more definitive figure will be presented to the board of visitors in February.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Information from: The Daily Progress, http://www.dailyprogress.com

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