Topeka ? Kansas University is asking state officials for permission to purchase property and construct a bus maintenance and storage facility with the city of Lawrence.

The cost of the project is not to exceed $4.75 million, according to a memo from the Kansas Board of Regents.

The property is in the Timberedge Industrial Park, which is near the intersection of North Iowa Street and Lakeview Road in northern Lawrence. Under the proposal, KU would contract with Advanco to buy the property and construct the facility.

“The University of Kansas and the City of Lawrence both provide transit services, but are steadily working toward coordinating more of their operations to increase efficiency and provide better service,” the regents’ memo stated.

“In order to further this coordinated effort, a joint maintenance and storage facility is needed. The current facility that is leased through KU’s service provider is undersized and generally inadequate for long-term needs,” it states.

The regents will consider the proposal on Thursday.

If approved, the project will be financed through parking and transit funds, which include a student fee of $65.90 per semester, and revenue from a lease agreement with the city.

The current facility for KU and city buses, operated by MV Transportation, is near 31st Street and Haskell Avenue.