<!doctype html public "-//W3C//DTD W3 HTML//EN">
<html><head><style type="text/css"><!--
blockquote, dl, ul, ol, li { padding-top: 0 ; padding-bottom: 0 }
--></style><title>where are the local papers?</title></head><body>
<div>This from the Spokesman, dated yesterday. m.</div>
<div><br></div>
<div><font color="#000000">UI Sandpoint campus plan shelved<br>
<br>
>From staff reports<br>
October 22, 2007<br>
<br>
The Wild Rose Foundation said late today that it's putting on hold its
proposal to finance a University of Idaho campus in Sandpoint due to a
downturn in the foundation's financial portfolio.<br>
<br>
Timelines for the project have been put on indefinite hold based on
the financial considerations, foundation director and Coldwater Creek
founder Dennis Pence said in a statement.</font><br>
<font color="#000000"></font></div>
<div><font color="#000000">"As a large percentage of the assets of
the Foundation reside in equities, and the value of the portfolio has
declined substantially over the last six months, Wild Rose has
requested to the University of Idaho that the planned development be
delayed until such time as the condition of the investment portfolio
of the Foundation improves," Pence said.</font></div>
<div><font color="#000000"><br>
Tim White, president of the University of Idaho, said in a statement,
"The University of Idaho is disappointed by the delay in the planned
Sandpoint facility. Dennis Pence's vision for creating educational
opportunities in northern Idaho resonates with the university's
mission and we look forward to resuming the project at the appropriate
time."<br>
<br>
The delay does not affect existing UI programs in Sandpoint, including
the executive MBA program.<br>
<br>
"We look forward to putting the project back on track as soon as
feasible," Pence said, adding that he will continue "unqualified
support" for the learning center. Pence also said the delay was
"personally disappointing," and he praised the university for its
support of the project.<br>
<br>
Through his foundation, Pence committed to spend at least $36 million
on the project, according to an agreement approved in August by the
Idaho State Board of Education.<br>
<br>
The board at that time backed a plan to sell 77 acres owned by the UI
just north of downtown Sandpoint to the Wild Rose Foundation for $6.25
million. Most of that money would have gone into a trust for
educational programs at the site, and the foundation agreed to spend
at least $30 million to build the first four buildings, which were to
be given to the UI, according to the agreement.<br>
<br>
Classes were tentatively scheduled to start at the Sandpoint Center in
fall 2009. A variety of offerings would have been available, with an
emphasis on interdisciplinary programs focusing on the liberal arts,
natural resources and food science. Other programs would have included
the UI's executive MBA program, already available in Sandpoint, as
well as offerings from North Idaho College.</font><br>
<font color="#000000"></font></div>
<div><font color="#000000">Pence is chairman and CEO of Coldwater
Creek, the Sandpoint-based clothing operation that has seen booming
growth in recent years.</font></div>
</body>
</html>