CEDAR FALLS, Iowa — The Iowa Board of Regents approved Iowa State University’s request for an additional $9.2 million for the CyTown project on Thursday.

According to a regent’s document, the additional funding would be used to finish the first phase of construction on the project and start construction on phase two. Phase one and phase two include replacing the 40-acre parking lot between Jack Trice Stadium and the Iowa State Center, relocating the CyRide Transit Hub, and building infrastructure.

In 2022, the regents approved $28.5 million in funding to start construction. With the approval of an additional $9.2 million the project’s budget is now $37.7 million — a 32% increase. The additional funding would come from the ISU Athletics Department, private donors, and university funds, according to the regent’s document.

Phase one is scheduled to be finished in Aug. 2024 with phase two being completed a year later in Aug. 2025.