The University of Toledo Foundation :

New Business Complex Nets Kresge Challenge Grant

The University of Toledo’s College of Business is nearly $1 million closer to funding a new business center, thanks to a challenge grant from the Kresge Foundation of Troy, Mich.

The $900,000 grant is targeted for construction of the Savage & Associates Complex for Business Learning and Engagement. Ground was broken on Oct. 4 for the 54,000-square-foot building, at the north end of Stranahan Hall. The complex is expected to open by fall 2009.

UT is the only Ohio organization among 82 nonprofit organizations across the country that received funding from the recent round of Kresge grants.

The University received its last grant from the Kresge Foundation in 1976, for construction of the Driscoll Alumni Center, according to Ellen Ingram, UT director of corporate/foundation relations. Ms. Ingram, who spearheaded this two-year grant proposal process, said Kresge considers an organization’s finances, diversity, relationship with the community and vision for the project.

She said Kresge noted UT’s plans to make the new business building environmentally friendly. “They looked favorably at our efforts to make the complex one of the first ‘green buildings’ among public universities in Ohio,” she said. Plans include a rooftop garden, an energy-efficient use of glass and recycled construction materials.

UT is seeking LEED (Leadership Energy and Environmental Design) Silver Certification for the structure.

Kresge also focused on UT’s collaboration with the business community, she said.

Dr. Thomas Gutteridge, dean of the College of Business Administration, said the new complex “will provide an opportunity for students, faculty and representatives of the business community to gather together in an outstanding and unique environment.”

The complex will house 10 classrooms, five action-learning labs for hands-on experience, and a 40-seat boardroom to accommodate conferences and events for both the University and the area business community.

“Our goal is to provide an environment where students, faculty and business members learn from each other,” said Dr. Gutteridge. “The new complex will have a transformational impact on the College’s ability to recruit and educate students, as well as its engagement and partnership with the business community.”

He said the Kresge grant requires UT to raise funds from other private sources. However, he noted that the prestige of the grant should help attract additional support for the $15.4 million project.

The complex originated with a $1 million gift from Savage & Associates.

“The success of the project is evident by the wide range of support and involvement from the business community and alumni nationwide,” Dr. Gutteridge said.

For information on making a gift to the new complex or funding other renovations to Stranahan Hall, contact Barbara Tartaglia at (419) 530-5415 or barbara.tartaglia@utoledo.edu