YOUNGSTOWN — The Youngstown State University Board of Trustees unanimously approved a resolution to support a bond issue of up to $40 million to renovate Kilcawley Center.

During their special meeting Tuesday afternoon in Tod Hall, trustees made the move as the next step toward renovating the space that has been a central hub of university activity and commerce since it was built in the mid-1960s.

The project is estimated at $50 million, of which about $42 million will be used for the renovations. Much of the remaining funding will go toward contingency costs, architecture and engineering, furniture, fixtures and other equipment, and advertising.

The work is scheduled to get underway in May, with a targeted completion date of September 2027, Neal McNally, vice president for financial and business operations, noted.

The project will be rebid next week, with opening bids set for Feb. 10, McNally said.

That move is necessary largely because initial bids came in 21% higher than estimated, primarily because of inflation and supply-chain issues, YSU President Bill Johnson said.

Kilcawley Center will receive long overdue work at a time when competition for enrollment “is at epic levels,” largely because of decreases in population and the number of births, Johnson said. He noted that since a capital campaign began last fall, more than half of the needed money has been raised.

A highly revamped center is essential also because YSU has a strong eye on the future, bolstered largely by technology and other communication capabilities, so it’s counterproductive to have a building that is antiquated — and has not seen major renovations since the 1970s, he has said.

Under the current remodeling renderings, Kilcawley Center’s ground floor will consist of a dining commons area, two meeting rooms, a community kitchen space, a Black Box theater and a multipurpose and banquet room, which is now the large Chestnut Room.

The upper floor will be home to several suites for student organizations such as student government and Penguin Productions, student activities and staff offices, an information-technology help desk, a graphic services section, a catering kitchen and several additional meeting rooms.

“This will be great for the community and obviously great for the university,” Michael Peterson, board of trustees president, said.

The bond issuance of up to $40 million “is a small portion of our debt,” largely because YSU is fiscally responsible. Also aiding in the effort is that the university’s fundraising “is the highest it’s been in a long time,” Peterson added.

Also, YSU continues to receive financial gifts on a regular basis, Rebecca Rose, university spokeswoman, said, adding that the project will occur in phases, so Kilcawley Center will remain open during the renovation work.