NIU administrators are searching for alternate funding sources for development of the NIU Engineering and Research Park following Gov. James Thompson’s veto of $75 million in capital development funds Monday.

Tom Montiegel, NIU vice president for development and university relations, said NIU might have to rely much more heavily than expected on private sector donations to raise the $1.2 million necessary for purchase and renovation of the former Wurlitzer Corp. headquarters located on Gurler Road. He said about $387,000 already has been privately pledged toward the project.

“Further help from the private sector is definitely one of the options we will have to look into,” Montiegel said. He said the amount of outside support, both vocal and monetary, has been encouraging for the park project so far.

Philip Gonet, deputy chief of staff for Thompson, said the governor vetoed the $75 million portion of the $233 million Capital Development Board bill because of uncertainty of future funding ability.

He said Thompson decided to veto any project for which future general revenue fund support for staffing or operations would appear to be necessary.

Thompson believed, Gonet said, that there were too many “unanswered questions” concerning the future sources and amounts of operating costs and whether the state would have any more funding available.

NIU President John LaTourette said another alternative for funding the project would be “going in with a corporation or foundation as co-owners or co-managers” of the property. He said the partner institution would be asked to provide capital needed beyond NIU’s current $387,000.

“Some companies have already called to say they were interested in managing the property once NIU acquired it,” LaTourette said. He declined to name the companies.

LaTourette said other options include trying to get the project tacked onto the 1990 budget or acquiring a contract-for-deed, which would allow about five to seven years for payments to be made.

Rep. John Countryman, R-DeKalb, said he is undecided about whether he will attempt to override Thompson’s veto. He said an override might be difficult, because the veto sessions will begin in the Senate.

The chance to renovate the 132,000 usable square feet of land at a cost of less than $10 a square foot is too lucrative an offer to neglect, LaTourette said. He called the project a “great bargain” and said that he hopes that at least the property’s purchase price can be raised soon.

The veto of the project was surprising, LaTourette said, because of its enormous support throughout the drive for funding.

Montiegel said NIU probably has “two to three months maximum” in which to buy the Wurlitzer property from its owner, Equitable Life Assurance Society. “Since Equitable is incurring operating costs, there is a possibility we could lose the property to another buyer. I understand there was an offer already for the property, but I don’t know who made it or how much,” he said.