Funding Sources and Projections To date, generous donors have committed almost $10 million in advance gifts and pledges to the academic building project. The entire project (constructing the new building as well as relocating the maintenance building and heating plant ) is estimated to cost $18.5 million. The College would hope to limit additional institutional resources and plant reserve funds which would be needed to underwrite the project cost, relying instead on the support from individual donors and foundation grants as much as possible. The Kresge Challenge The Kresge Foundation has offered a $1.2 million challenge grant to Bates as a capstone to the fundraising effort. To qualify, Bates must raise the remaining funds by March 31 1999 from individual donors and other entities. Gift pledges can extend up to five years. Donors Many generous donors have already committed financial support for the new academic building. Their leadership giving toward this important project is greatly appreciated. For more information about the academic building and its progress, please contact: Victoria Devlin Vice President for Development and Alumni Affairs Bates College, 2 Andrews Road, Lewiston, ME 04240 Phone: (207) 786-6245 Fax: (207) 786-8242 email address: vdevlin@bates.edu