FORT SMITH -- Fort Smith is applying for a $1.5 million grant to support development of an osteopathic medical school in Fort Smith and to match the grant with $1.5 million in infrastructure improvements.
The city wants the Economic Development Administration grant so the Arkansas College of Osteopathic Medicine could use the grant money to widen Chad Colley Boulevard adjacent to the Chaffee Crossing campus and to build a parking lot on the campus.
The grant requires a 50-50 match, according to a memorandum to city directors. The city intends the value of water, sewer and road improvements to and around the campus to serve as the match.
An ordinance the directors passed Aug. 19 called for the city to spend $450,000 for water line improvements and $330,000 for sewer improvements at the college. The city also would reconstruct or overlay a stretch of Veterans Avenue along the north edge of the campus at an estimated cost of $725,000.
According to a memorandum of understanding between Fort Smith and the nonprofit Degen Foundation, the foundation and the Fort Smith Regional Healthcare Foundation are proposing to develop the college of osteopathic medicine on 200 acres that the Fort Chaffee Redevelopment Authority donated for the college in February.
The first phase of the estimated $58 million medical school consists of a 100,000-square-foot building, a campus green and main entry. Future development space is being planned with room for more buildings, a medical office park, and commercial and retail development.
School officials hope to open the college in the fall of 2016 with 150 students in the first class.
Metro on 08/30/2014