Board approves investments in future growth

Grand Valley’s Board of Trustees made bold moves to invest in the university’s future, approving a $402 million budget that helps maintain one of the best value positions in higher education while investing in financial aid, student, faculty and staff wages, and a new College of Computing.

At its annual meeting July 12, the board also approved the purchase of the remainder of a building in downtown Grand Rapids and the creation of a new bachelor’s degree in performing arts management.

The budget includes a $4.2 million increase to financial aid that takes it to 21.3 percent of revenue, up from 20 percent in the previous fiscal year.

Spending related to the creation of the College of Computing is also part of the budget. The college launches this fall after the board previously approved a plan to separate it from the Padnos College of Engineering and Computing.

“The year ahead is pivotal for Grand Valley as we invest in a future that positions our university as a hub for high-tech talent while ensuring our students continue to receive incredible value and opportunity as a result of their investments,” said Susan Jandernoa, who concluded a two-year term as chair of the board.

The board approved spending $5.9 million to purchase the remaining portion of the Bicycle Factory, 201 Front Ave. NW, from Bicycle Factory LLC. The purchase is part of the university’s long-term strategy to preserve strategic growth opportunities on the Pew Campus. Funding for the purchase will come from the university’s Strategic Capital Reserve.

The university currently owns and occupies two of five floors in the mixed-use building.

The Performing Arts Industry major will be part of the Music, Theatre, and Dance department and was created in collaboration with the faculty of the Public and Nonprofit Administration major. It will be offered with emphasis in either music or theater.

This degree program will serve students who wish to pursue careers within the arts that are not currently a part of the curriculum of any of GVSU’s existing degrees in performance or education. The major is geared toward students interested in working in fields including arts management, arts entrepreneurship, arts leadership, arts administration, presenting, music or theater industry and music or theater business.