July 1, 2008 is the 40th anniversary of the creation of Virginia Commonwealth University. VCU resulted from several studies dating from the early and mid-1960s which expressed the need felt by many for Virginia to have a major urban university in Richmond. The most important of those reports was issued in 1967 by the Wayne Commission which developed an implementation plan head by Edward A. Wayne Sr. (1903-1990), president of the Richmond Federal Reserve Bank.
The recommendation, supported by the Governor and General Assembly, was the creation of VCU. Wayne's vision for the school rejected a merger and proposed instead to create a completely new entity with Richmond Professional Institute and the Medical College of Virginia as its components. The Commission's report stated that "an urban-oriented university is unique in that its basic philosophy concentrates on meeting the needs of an urban population living and working in an urban environment. The city is truly its living laboratory."
Wayne was named vice-rector of the first Board of Visitors of VCU and the University's Wayne Medal honors individuals who have made outstanding contributions or provided exemplary service to VCU.
The Wayne Commission Report is available online as part of VCU Libraries' Digital Collections.