A building boom is about to hit Southeast Missouri State University, and area contractors are expected to be the biggest benefactors.

At its meeting Friday, the university's board of regents approved a fiscal year 2012 schedule of capital improvement projects, a list topping $38 million. Much of the work -- about $27.83 million worth -- includes the estimated portion of bond funds targeted for Southeast's massive campuswide renovation and maintenance project.

"This is a good time to be in construction in the Cape area," said board president Brad Bedell.

Kathy Mangels, Southeast vice president for finance and administration, provided the board with an update on the campus renovations and the complex schedule of transition and relocation for several departments in the coming months.

"This will create a lot of need for communication around the campus as we work through these projects," she said.

In December, regents approved a $59.25 million bond issue for the renovation and maintenance projects, including nearly $23 million in upgrades to the century-old campus anchor Academic Hall. About $9.08 million is pegged for work on Academic Hall in fiscal year 2012, another $5.73 million is marked for renovations and the three-story addition at Magill Hall. The capital improvement schedule also includes $8.14 million for the campus' power plant boiler replacement, and another $3.93 million for a litany of deferred maintenance projects.

Southeast president Ken Dobbins said as much as 85 percent of the construction work will be completed by contractors within a 50-mile radius. Board member Reginald Dickson asked Mangles for a list of women-owned and minority-owned contractors involved in university projects.

The capital and maintenance and repair projects schedule for 2012 includes $3.86 million in local university funding, another $2.18 million in state appropriations, $782,000 in federal and state grant funds, and $3.42 million in auxiliary services funding.

All of the construction will force the relocation of several departments, including admissions, enrollment management, and the president and executive staff. Plans and timelines for the moves are in place, beginning in late spring and continuing through the end of the year.

"Needless to say our facilities management has a lot of stress on them," Dobbins said, later noting that he wanted the record to state that Angela Meyer, Southeast's director of facilities management was "still smiling."

"See us in a year from now and see if we're still smiling," Mangels joked.

In other business, the board approved:

* A $20.98 million Residence Life budget for fiscal year 2012, up from $19.67 million from the current fiscal year. The budget includes an average 3.71 percent increase in student room and board rates for the next academic year. Rates for rooms will increase 3.37 percent on average and dining rates will go up by 4.26 percent for fiscal year 2012. Rates for non-traditional housing -- at the Washington Street Apartments -- will increase 1.7 percent, equivalent to the consumer price index. Monthly rates will range from $379.90 for a one-bedroom efficiency to $513.99 for a two-bedroom apartment with a balcony.

* A bond refunding package. Southeast looks to realize $1.17 million or more in savings by refinancing facilities bonds for the Vandiver Hall construction and campus parking projects. Combined, the projects have more than $30 million in outstanding debt. Lower interest rates are projected to net Southeast a reduction in debt service payments of $56,000 to $63,000 annually over the remaining 21-year life of the bonds. Refinancing also is expected to free up a reserve fund of nearly $2.4 million, money originally required to receive the bonds. The money will be used to cover some $2 million in heating and ventilation needs at Greek housing.

* New minors in agriculture/horticulture entrepreneurship and autism studies, and a new certificate of health care facilities operations.

* An updated refund policy for incidental, general and course fees for Southeast's new winter intersession and summer 12-week sessions. For the winter intersession, courses scheduled between the fall and spring semesters, a 100 percent refund will be issued to students who drop a class in the first two days of the session. Students will receive 50 percent reimbursement through the session's first week, and no refund after the first week. For the 12-week summer session, 100 percent refunds will be issued to students who drop the class during the first week, 70 percent in the second week, 60 percent in the third week, and 50 percent in the fourth week. There is no refund after the fourth week.

mkittle@semissourian.com

388-3627

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One University Plaza, Cape Girardeau, Mo.