OCU and Fred Jones Companies, Inc. announced Thursday, July 16 plans to move OCU’s law school downtown to 900 W. Main Street will not move forward.
The location, owned by Fred Jones Companies, has been the subject of a letter of intent signed by the parties in November 2009. The concept called for an extensive renovation of the existing building to provide a new home for OCU LAW.
“American universities, just like businesses and families, are tightening their belts during these difficult economic times,” said OCU President Robert Henry. “And we believe our budget dollars and fundraising efforts should focus on creating scholarships for our students, and recruiting and retaining excellent faculty at this time. Fred Jones Companies provided us an exciting opportunity and we appreciate all they did.”
Fred Hall, chairman of Fred Jones Companies, said officials are disappointed to be missing this opportunity to partner with OCU on the project.
“We are proud of our historic building and the possibilities it provides in the continuing downtown renaissance,” he said.
OCU Chancellor Tom McDaniel said he supports Henry’s decision.
“Many of our students and their families are struggling to meet the financial requirements of a great college education,” he said. “President Henry is right on target in making student scholarships and faculty needs our first priority.”
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