Since the article in The Hereford Times alerting citizens that Herefordshire Council has overwhelmingly backed the principle of passing its offices and other estate on to the county’s university project, I have discovered the New University - Herefordshire website which provides further interesting information.
The groundbreaking motion went through with just one abstention and no votes against at full council this morning (Friday). Support for the motion means fundraising for the project can begin in earnest.
STRUCTURE & GOVERNANCE
The New University-Herefordshire is being conceived as a not-for-profit institution, with mixed funding, and operating with input from The John Lewis Partnership model. The assets and endowments of the university will be held in trust by The Herefordshire Tertiary Education Trust.A working Development Team has been in place since late 2012, and is comprised of local business people and educators.The Trust Board of Trustees will initially be comprised of nationally and internationally recognised educators and business leaders drawn from Herefordshire and from around the world. This group will have a 2-3 year mandate to design and fund the university and identify and retain the initial executive leadership team.With seed financing of £3-4 million and an additional £10-13 million to open the university in 2017, the Board will be tasked over succeeding years with securing an additional £50-£75 million in financing; integrating resources from personal and corporate philanthropy, the social capital market, private investment, UK & EU Government funding, public sector asset transfers, and industry sponsorships.The New University will be working in close collaboration with Herefordshire College of Arts, Hereford & Ludlow College, and the Royal National College for the Blind to ensure that Herefordshire is recognized as a national centre of excellence in education.
My first thought - money no object. Where did the seed finance come from? Not the council I hope as they will have to have parking meters along all the roads of Herefordshire to bring in any money to support this. Can any councillors explain as they all voted for this worthy cause, except one who abstained.
Noticed that the Blackfriars building used by the council has been vacated and fenced off completely. Did someone mention that the Robert Owen school was to be given the building?