Top Morning Stories July 14, 2011
UT Regents To Consider Increasing Endowment Payout
The University of Texas System Board of Regents is scheduled to vote today on whether to increase the payout rate for the state's largest higher education endowment, the Permanent University Fund. It's a 13.65 percent increase for a total of more than $575 million. The UT System and the Texas A&M System share the funds, but UT gets more. UT System officials are recommending the higher endowment payout. They cite a record year of PUF royalty income and strong investments. They say universities are in need of the money because of state budget cuts.
APD Searching for Missing Man
Austin Police detectives are asking for the public's help in finding a missing adult. 76 year-old Desmond Daniel was last seen on Monday morning in the 2600 block of Loyola Lane. Daniel is African-American, 5'9", 175 lbs. with brown eyes and gray hair. APD says foul play is not suspected. Daniel was last seen driving a white 1999 Chevy van with Texas license plate 415-XXS. Anyone with information is asked to call 911.
County Approves F1 Building Permits
Developers of the Formula One racetrack, planned for southeast Austin, could start construction soon on the actual buildings on the site. Travis County officials issued the building permits yesterday. Site clearing has already begun. Building out the pit center, media and medical facilities could start soon. Austin’s first F1 Grand Prix race is tentatively scheduled for next June.