The University’s Board of Trustees met for the second time this school year at BGSU Firelands in Huron.

It was announced that the University’s $120 million fundraising goal would be reached Friday afternoon, but fundraising would continue over the next year and a half as planned.

“Sometime this afternoon we will have reached the $120 million campaign, but we’re not going to make a big deal out of it because we still have a year and a half left,” Trustee Robert Sebo said.

Sebo said the University still has more goals to meet.

Money raised will be used primarily for capital planning projects funded by private gifts, bonded debt and state funds, including the $38.5 million Wolfe Center for the Performing Arts and a new $36 million convocation center.

Other projects include renovations of the Ice Arena, Health Center and some residence halls.

At the meeting, the board passed two resolutions regarding residence hall renovations: a $1.3 million project to improve the McDonald electrical feed and a $600,000 project to replace and relocate the Offenhauer cooling tower.

Other important actions and information from Friday’s board meeting include:

Sponsorship of the Toledo School for the Arts

Board members passed a resolution to sponsor the Toledo School for the Arts, a Toledo charter school. The resolution states that the sponsorship will “increase the academic, research and collaborations and exchanges between the two institutions.”

“One of our centers of excellence are our arts programs,” said Vice President of Academic Affairs and Provost Shirley Baugher. “It’s a perfect opportunity for us to collaborate.”

Baugher said one of the benefits of collaborating with the school is that it will give the University an opportunity for field experience hours.

The trustees asked General Council Thomas Trimboli to make a revision to the resolution to make sure there were no expectations for the University to give financially to the school.

Adoption of Classified Civil Service Modernization

The trustees unanimously passed a resolution to implement House Bill 187, which makes changes for classified staff at the University in areas such as status and layoff and discipline procedures.

A resolution to sell roughly three acres of land of the University’s Research Park was passed unanimously by the board. The land will be sold for $225,127 to ARGO-HYTOS, Inc., a hydraulic filtration company.

Salary Increase for University President

Trustee Michael Marsh announced the board had decided to give BGSU President Sidney Ribeau a 3 percent salary increase.

“[The board] expressed to Dr. Ribeau our extreme satisfaction with BGSU and Firelands,” Marsh said.