ALBUQUERQUE, N.M. (KRQE) – With elections less than two months away, there are more than presidential candidates on the ballot. The University of New Mexico (UNM) is asking people to vote in favor of General Obligation (GO) Bond 3 as a building that is decades-old is falling apart. “What we want from our future building is a space that tells students that we are welcoming them here,” said Jennifer Malat, Dean of Arts And Sciences at the University Of New Mexico. Story continues below Entertainment: Who won the 2024 New Mexico State Fair Green Chile Cheeseburger Challenge? Crime: ‘Pieces of car floating in my pool’: Albuquerque family shares about backyard crash Podcast: How New Mexico’s Top Cop Is Addressing Crime, Traffic Enforcement The humanities building was built in 1971 and has had smaller renovations since its construction. The building has been a staple on UNM's campus for decades welcoming freshman class after freshman class. Now, a year from now, it could look completely different should the general obligation bond pass. “A review in 2020 showed that it has accessibility problems, the cost of repairs, and of renovating it in the ways that we need for it to be a modern facility for students and for faculty,” said Malat. The 53-year-old building is in a state of disrepair. “Right now, this building has asbestos in it. When it rains, we get flooding on the lower levels, as well as leaking through ceiling tiles that happen. The building is not as accessible as we would like.” The university wants to tear it down and rebuild a modern building. “We're planning a new modern facility that will encourage collaboration among faculty, among students, and with the community.” That's why the university is asking for New Mexico voters to vote in favor of GO Bond 3. If passed, UNM would get $94.5 million for its projects of the $230 million allocated by the bond which will go toward higher education statewide.“We expect it will contribute to 2,300 jobs across the state in 29 localities and in 23 different counties.” The go bonds are funded by the state's tax revenue, and they don't increase taxes. However, if go bonds aren't passed, they lower property taxes. The university said these bonds are an investment for New Mexico in the long run. “There are projects that, if the bond passes, will happen all across the state investing in our capital projects and building the infrastructure we need to have a strong state.” If approved, the building would be torn down next year and the completion of the new one would be finished by 2028.