USC still hasn't matched funds for research center
Apr 4, 2010 3:02:00 PM - thestate.com
The University of South Carolina is struggling to come up with $23 million in private money it is supposed to raise to match state funding for two buildings in its Innovista research campus, a newspaper reported Sunday.
The university blames two developers who failed to complete promised buildings and two researchers hired for the high-tech campus say they have been left without proper equipment because the state is withholding $14 million intended to outfit labs and offices, according to The State newspaper.
South Carolina's other research universities - Clemson and the Medical University of South Carolina - have met their requirements and received more than $70 million each in state funding.
USC has received $58 million despite being short on private fundraising.
"They say they are going to work their way through this," said state Treasurer Converse Chellis, whose office issued and holds the bonds for the $58 million. "I don't want us to go off half-cocked. I know Don Herriott ... and I have a lot of confidence that he will resolve the challenges."
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