The money is contingent on whether the university receives $35 million in annual funding from local governments, philanthropists and community sources.
“This is a call to action,” said UT System Chancellor Francisco Cigarroa. “The time is now. We don’t have any time to waste.”
The pledge to underwrite a medical school in Austin comes less than two weeks after Austin, Texas-based Seton Healthcare Network agreed to provide $250 million for a new hospital across the street from the University of Texas campus, which would serve as a teaching hospital for the new medical school. The quarter-billion dollar facility would replace the publicly owned University Medical Center Brackenridge in Austin that Seton Healthcare Network currently operates.
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