Board of Trustees Approves Mission Statement, Strategic Imperatives and Three Major Capital Projects

The meeting marked the culmination of the first phase of strategic planning, with approval of a new institutional mission statement and three strategic imperatives to guide our work going forward. These imperatives will now be the guiding principles of more detailed planning work, led by the Strategic Initiatives Advisory Council, and of our next philanthropic campaign.

The Board also approved three significant capital projects:

• Organic Chemistry Lab 116, the only original and unrenovated teaching lab remaining in the Olin Center for Physics and Chemistry, will be fully renovated through a $2.25 million project. The renovation will improve accessibility, reconfigure the space to promote group work, and allow for use of the space as a classroom as well as a laboratory. The project will also improve exhaust and safety systems. The project will be funded through $1.625 million of existing debt funding and $625,000 from the previously approved FY24 capital budget. Work is expected to be completed during the summer of 2025.
• Phase II of the renovation of the Lower Estate Garden will also take place during the summer of 2025. Phase I of this project in 2024 addressed maintenance issues and filled in the original non-functioning swimming pool. Phase II will be based on submissions received from members of the campus community, with a focus on creating a community gathering space in this central and historically significant area of campus. Further details will be provided as the College continues to work with landscape design architects and through the City of Portland’s historical resources review process. The Board approved a project budget of up to $1.65 million from existing debt funds to restore this area to campus use.
• The second floor of Corbett House on the Graduate School campus will be fully renovated to allow for use of this long-dormant space. Following renovation of the first floor of Corbett House in 2022 and completion of the Graduate Commons in 2023, the renovation of the second floor of Corbett House in 2025 activates the largest remaining opportunity for infrastructure growth on the Graduate Campus. The new space will become the hub of the Graduate School’s administrative and leadership functions, which will allow for the creation of new classroom and office space in Rogers Hall. This work is expected to be completed by the beginning of the fall 2025 semester. The Board approved a project budget of $1.2 million, which includes $700,000 of existing debt funding, $250,000 of philanthropy, and $250,000 from the FY26 capital budget.

The Board of Trustees also approved undergraduate tuition and fees for 2025-26. The Board approved a five percent increase to tuition and a four percent increase to room and board, as well as an increase of the Graduation Application Fee to $75. Tuition for the Law School and Graduate School will be set at the Board’s meeting in February.