The University of Missouri-Kansas City is formally seeking $48 million from the state to help build the first phase of its planned Downtown Campus for the Arts.

The University of Missouri System Board of Curators will include the $48 million as part of its 2017 budget request.

Since the funds are being requested through Missouri’s 50-50 matching program, it appears that UMKC has hit its goal of raising another $48 million from donors. The school said it would release more details about the fundraising effort “in the near future.”

The Downtown Campus for the Arts would move the UMKC Conservatory of Music and Dance from the university’s Volker campus to a space next to the Kauffman Center for the Performing Arts. One of its major donors so far is the Muriel McBrien Kauffman Foundation, which offered a $20 million challenge grant.

The Downtown Campus for the Arts was one of the Greater Kansas City Chamber of Commerce’s “Big 5” projects to push Kansas City forward.