On Tuesday morning, faculty and staff members met for an update on the Kerr-Pegula Project. Dave Smith, Vice President for Finance and Planning, presented to faculty and staff information that will be shared with the Board of Trustees on Friday, May 3rd as they decide how to proceed with the project. Smith’s presentation was focused on the financial aspects of the Kerr-Pegula Project, such as the total cost of the project, the funds raised thus far, and the plan for funding the rest of the project, if extra funding is needed. These are the factors that the Board of Trustees will weigh as they vote on how to move forward with or delay the project.
The Board of Trustees has already approved the three fields that are currently under construction, while the addition of a field house is pending Board approval. According to Smith, there is a range of options which will be presented to the Board, and two of these options would not involved added funding. Dr. Robert Pool, Vice President for Student Life, said only a very small percentage of the project will be financed by loans. He said, “I, along with all of the presidential staff, have looked at all the risks and costs, and it is a no-brainer: go forward.”
Skip Lord, Executive Director of Intercollegiate Athletics, said that the College has the gift (the original donation by the Kerr-Pegula family) and a plan for advancement. Lord supports the project not only because it will enhance intercollegiate athletics, but also because it has the potential to increase Houghton College’s visibility, improve enrollment, contribute to advancement goals, and expand intramural and academic programs. “It has the potential to impact Houghton in unique ways we have not even begun to imagine,” Lord said. He also said, “I am certainly hopeful that we will move ahead, but the Board of Trustees, in their wisdom, will make the decision.”
Like Lord, Lauren Niswander, Co-leader for Committee for Intercollegiate Athletics, reflected a large vision for the Kerr-Pegula Project. She said, “This is an awesome gift that we have been given, and it will help our campus ministry by opening doors to represent our athletics and academics.”
Connie Finney, Professor of Education, gave her opinion of the general support for the project. She said, “In my various conversations with faculty members, I have found them to be very supportive of the project.” Similarly, David Davies, Assistant Professor of Composition and Theory, stated, “I am generally in support of the Kerr-Pegula Project.”
However, some professors are more skeptical about the Kerr-Pegula Project. Benjamin Lipscomb, Professor of Philosophy, expressed concern over the funding of the project. If a significant amount of the funds come from loans, he said, “The financing of that debt will be an additional burden on the College and ultimately on its students.” He affirmed the value of athletics but emphasized the importance of making sound financial decisions, especially because Houghton has been struggling with enrollment and finances. “The most disturbing aspect of going ahead without full financing,” Lipscomb said, is that the original vision was to have all the operating expenses covered by an endowment.” If the project is funded by loans rather than an endowment or funds the College already has, Houghton might jeopardize its financial and institutional values.