MADISON, Wis. – After completing a court-ordered mediation process, the University of Wisconsin System Board of Regents and the University of Wisconsin-Oshkosh Foundation are pleased to announce that they have agreed to settle all issues relating to the disputes between the Board of Regents and the UW-Oshkosh Foundation.
The parties have agreed to confirm ownership of the UW-Oshkosh Alumni Welcome and Conference Center and related claims for a net settlement of $4.6 million. Additionally, the Board of Regents will invest approximately $1.7 million in the Witzel Avenue Biodigester, a renewable energy power plant and revenue-generating educational asset that will yield significant returns. These funds will go to the debt-holding banks.
On behalf of the UW-Oshkosh Foundation, Chair Timothy C. Mulloy and Secretary/Treasurer David L. Omachinski stated, “The UW-Oshkosh Foundation is pleased that we were able to reach resolution with the Board of Regents to move forward. This joint resolution will allow us to focus on our shared core mission – which is to support the students, faculty, and entire UW-Oshkosh community.”
Regent Michael Grebe stated that “the Board of Regents is pleased to have resolved this issue in a way that protects taxpayer and student interests, and renews the productive relationship between UW-Oshkosh and the UW-Oshkosh Foundation.”
On behalf of UW-Oshkosh, Chancellor Andy Leavitt stated, “We look forward to working together again to support UW-Oshkosh, the region, and the citizens of Wisconsin. I thank our partners in the UW-Oshkosh Foundation for joining with the University in renewing a spirit of trust, service, and philanthropy as we support the experiences and journeys of our students.”