The University of Minnesota’s Board of Regents passed the six-year capital plan for the University Friday morning.

The six-year capital plan serves as a long-range projection of what the University plans to ask the state for building construction funds. It also includes renovations of existing facilities, and the decommissioning and destruction of others.

At Friday’s meeting, the board outlined the cost and content for the next six years. The state would contribute 75 percent of the estimated $1.3 billion plan that extends through 2018 while the University would put forth 18 percent.

The remaining 7 percent of the plan is designated for self-funded University projects.

Included in the plan is an $85 million renovation of the Tate Laboratory of Physics, which is slated for 2014. The 200,000 square-foot building in the Northrop Mall is more than 80 years old and was last remodeled in 1965.

Renovation of the laboratory would begin once the construction of the new Physics and Nanotechnology building is complete. Construction began in October 2011.

Tate would serve as the new home for the School of Earth Sciences, which is currently housed in Pillsbury Hall.

Also included are renovations for Wilson Library and a new center for the psychology department to replace Elliot Hall.

A significant component of the University’s plan is $495 million for Higher Education Asset Preservation and Replacement, which helps fund renovations of existing buildings.

The plan also calls for decommissioning and possible deconstruction of buildings on campus over the next six years.

The plan could change, however, as the University updates the plan annually and shifts priorities.