University of Kentucky officials are celebrating after receiving the largest gift in the school's history.
UK graduate and Trustee Bill Gatton is donating $20 million to go toward construction of a new 330,000 square-foot student center.
Gatton made a substantial donation to the university's College of Business almost 10 years ago. He says he hopes Thursday's donation motivates others to give.
"When I gave the money to the business school we thought it would cause a lot of people to step forward and give. But instead a lot of people said, 'they got that big gift, the biggest gift they ever had, you know they don't need any more money.' But, this time things are going so strong at this university thanks to Dr. Capilouto and his staff, that I believe there will be a lot of people contribute to this cause," said Gatton.
University of Kentucky President Eli Capilouto says, often additional student fees are used to finance such a project.
"Because of Mr. Gatton's gift, every student for generations, while we use this facility, will pay $50 less per year in perpetuity. That's the magnitude of this gift," said Capilouto.
The new student center, a $175 million self-financed renovation and expansion, is scheduled to open in 2017. ?
