Trustees and Officers at the University decided to delay construction of certain buildings due to a decrease in outside donations and a tightening of the University's budget resulting from the poor economy.

"Our benefactors' ability to help us out is being limited by the stock market performance," said James Lyphout, vice president for Business Operations. "They are unable to contribute at the same level."

The University has a triple A bond rating, which refers to a company or institution's financial strength and stability, and reflects the school's ability to borrow money on favorable terms. This is not something the University wants to jeopardize, according to Lyphout.

"The University is still very strong financially," he said. "So we will be conservative with our spending."

Financial considerations were the only reason for halting construction, according to Lyphout.

The most visible construction delay is the new Security Building/Post Office Facility, for which the foundation has already been laid at the north end of campus near the Stepan Center. Construction has been stopped indefinitely.

The delay of these projects has resulted in a domino effect that will delay other construction projects, such as a new hotel, which were already on the drawing board.

Not all construction, however, will be delayed. Renovations to the College of Arts and Letters Dean's Office, the Marie P. DeBartolo Center for the Performing Arts and Hesburgh Library renovations are all expected to be completed on time.

Lyphout said the next highest construction priority is the Science Building, to be located north of the Joyce Center. Construction of the building is scheduled to start in late March.

"We are hoping to stay on schedule, although funding is not complete," said Lyphout. "We are working very hard to get that funding."

This delay will not cost the school anything beyond the added price of absorbing inflation, he said.

"We have all agreed that the decision we have made is the right thing to do," said Lyphout.

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