A new Memorandum of Understanding (MOU) has been signed by McMaster University and the City of Burlington laying out the next steps in bringing a campus to the city. The MOU was signed by McMaster President Peter George and Mayor Rob MacIsaac.

It identifies the target site for the campus and confirms the city's financial commitment for the project.

The MOU proposes the new campus be constructed on a site in downtown Burlington at the corner of Elizabeth and Pine Street, the current parking lot four. The new building will provide 130,000 sq. ft. of academic and administrative space.

“Burlington's downtown will be an exciting place for our students, faculty and staff to be,” says President George. “This location in particular allows our students and faculty close connections with the business community, while enjoying close proximity to the many support services they require.”

Burlington council has also directed city staff to identify funding options to provide $10 million towards the design and construction of the academic building.

The campus will focus on programs offered by the DeGroote School of Business. The academic plan is still in its initial stages and will follow the University's normal approval process for academic programs. The initial vision is to offer programs that could include a Master of Business Administration, Doctorate of Business Administration and Executive Diplomas.

“This project can impact the entire city and the whole of this region,” says Mayor MacIsaac. “It is perhaps the last key link to completing Burlington's march to legitimacy as a great city.”

Public Open Houses are scheduled to update residents and others in Burlington. They will be held Nov. 2. Details will be posted on The Daily News.