Plans to renovate Beaver Stadium may finally come to fruition soon, folks.

Penn State President Neeli Bendapudi announced intentions to renovate the home of Penn State football in the form of a multi-phase renovation at Friday morning’s Board of Trustees meeting. No official plans to start the project were announced, though.

“After extensive research and consultation, renovation for Beaver Stadium is the direction we want to take as it is far more economical than a new build,” Bendapudi said in a statement. In addition, it’s important to note that no part of this project will be funded by tuition, student fees or any of our educational budget.”

The renovation plan has yet to be finalized and needs to be brought before the entire board for a vote in the “near future.” No financial projections were shared, as Penn State Athletics is trying to figure out a funding model for the renovations.

The last we heard about Beaver Stadium renovations was when Penn State Vice President for Intercollegiate Athletics Pat Kraft touched on the status of the project in his December Rose Bowl press conference. He mentioned the 19 studies that have been done about renovating the stadium over the past 10 years and noted the project was “very close” to being finalized.

Once complete, the stadium will have the potential to be used for more than just football Saturdays in the fall, something fans have been calling for in the past few years. This notion was hinted at last year when the Happy Valley Adventure Bureau formed a sports and entertainment commission in Centre County, as the idea of hosting events such as the NHL’s Winter Classic was floated around.

The last major renovation of Beaver Stadium occurred in 2001 with the addition of the upper deck to the south end zone and 60 suites above the east stands.