Iowa State will ask permission to continue with project planning of a $10.7 million sports complex at the Iowa Board of Regents meeting Thursday.

The Cyclone Sports Complex is to be west of Wallace and Wilson halls, commonly known to students as “the towers,” in a field currently used for intramurals.

The project proposes the relocation of the outdoor track, soccer field and softball diamond.

“The Athletic Department has not hosted a home competition on the track in many years, and the track no longer meets the requirements to host the Big 12 championships,” according to the capital improvements business transaction submitted to the Board of Regents.

The proposal includes the relocation of the soccer program from the flood plain to a “new, all-weather surface for practice and competition.”

“The softball field would be incorporated into the project to consolidate these field venues at one site where patrons would have appropriate guests services with necessary support buildings,” according to the proposal.

The anticipated project cost would be funded through debt financing and private giving, according to the proposal.

The passing of the proposal would give the university “permission to proceed, initial review and consideration of capital project evaluation criteria, and the selection of RDG planning and design.”

The university is also submitting a request to proceed with the purchase of a new video scoreboard and sound system for Jack Trice Stadium.

The scoreboard would be purchased from Daktronics Inc., and would cost up to $4 million.

The request would give “authorization for the university to enter into a financing agreement for the purchase, subject to necessary approvals by the board office.”

“The football stadium video scoreboard/sound system is currently located in the south end zone. In many areas of the stadium, it is extremely difficult to understand the audio output of the sound system,” according to the request.

The new system would “be at the stadium’s north end to be integrated with the Richard O. Jacobson Building. Future stadium plans include bowling in the south end zone and adding an upper deck, which would require removal of the south end zone video scoreboard/sound system.”

The university will also announce that it will save an estimated $42.5 million from the five-year early retirement program approved by the Board of Regents during the 2010 fiscal year.

Iowa State had a total of 206 participants in the early retirement program, and 118 have not been replaced.

The University of Northern Iowa has reported an estimated $16.9 million in savings, and the University of Iowa a savings of $67.4 million.

The University of Iowa is requesting to terminate the master of science program in oral and maxillofacial surgery, graduate programs in preventive medicine and environmental health, the Master of arts program in Russian, the Ph.D. program in statistical genetics and the Master of science programs in stomatology.