September 8, 2009
Like a fire sale on designer shoes, the race for $50 million in state matching funds among Texas’ seven emerging research universities may be nearly over as soon as it started.
Tuesday was the first day the schools — including the University of Texas at San Antonio — could report private gifts that qualify for a state match under the so-called Tier One bill, which doubles any donation topping $2 million.
The program extends for two years, but after a fundraising binge following the bill’s signing, there may be few crumbs left on the plate, said Guy Bailey, president of Texas Tech University. “I would not be surprised if (the money) is not spoken for by the end of the day,” Bailey said. “Everybody’s goal is to have the most.”