The University of Texas at Austin has received a $60 million gift from John and Miriam Mulva, one of the largest gifts in the school’s history. The donation will go toward two major building projects, including the school’s proposed Engineering Education and Research Center.
According to UT Austin President Bill Powers, $20 million will go toward the new Engineering Education and Research Center, while the other $40 million will go toward renovations of two buildings in the McCombs School of Business, pending project approval by the Board of Regents. The entire sum of money will be paid at a rate of three million over the next 20 years.
UT President Powers says the gift is especially important for the Engineering Center, since it will help the university raise $105 million from private donors to pay for construction of the $310 million Engineering Center.