Temple will enter into a 20-year sublease agreement with the Philadelphia Authority for Industrial Development to renovate the East Park Canoe House, where the crew and rowing teams store boats.
The Board of Trustees’ general body approved the decision at a Tuesday meeting in Sullivan Hall on Main Campus.
The university expects the project to cost $5.5 million, $2.5 million of which will come from the City of Philadelphia. H.F. “Gerry” Lenfest donated the remaining $3 million in February, which coincided with the city’s initial announcement of the renovation.
The expense report for the project, a part of the public agenda from the meeting, was signed by President Theobald on Sept. 17.
The lease for the Boathouse Row property includes two 10-year renewal options and would require Temple to provide and maintain public restrooms on the property.