The University of Iowa announced it is exploring a potential public-private partnership (P3) with its utility system. The university joins a growing number of institutions across the country looking for new ways to bridge a meaningful gap in available resources. “The UI is committed to delivering on our mission of education and research excellence,” says UI President J. Bruce Harreld. “Investigating this opportunity over the next nine to 10 months in order to determine if a P3 is right for our campus is a prudent and measured step.”
Under a P3, the UI will maintain ownership of its utility system while entering into a professional services agreement with a third party. This agreement will provide the UI with an upfront payment that the university will place into an endowment. The annual proceeds realized from the endowment will be invested in the core missions of the university (teaching, research, and scholarship), as well as strategies that will implement the UI’s Strategic Plan 2016-2021, which was approved by the Board of Regents, State of Iowa, in 2016.
Keep up to date on this initiative by checking this website periodically for information and updates: www.uiowa.edu/p3.
(Photo by Mark Palmberg)