The race is on for KSUT.

The Ignacio-based public radio station has until Oct. 1, 2018, to raise $1 million in cash and pledges to receive a matching fund from the Southern Ute Indian Tribe, according to a news release.

But it comes with one significant caveat.

“It is an all-or-nothing match, meaning that if KSUT does not raise 100 percent of the match ... no Southern Ute Tribal funds will be provided,” the news release said.

If awarded, the money would help pay for the renovation of an existing 5,000-square-foot building on the Southern Ute campus, which would be KSUT’s new home, to be called the Eddie Box Jr. Media Center.

“This is a wonderful opportunity for KSUT at this critical time in our capital campaign,” said Maria Baker, KSUT board president, in a prepared statement.

“This match has made our efforts toward a new facility very tangible,” Baker said.

In 2011, the Southern Ute Tribal Council approved a 30-year lease of the old casino purchasing building, just south of KSUT’s current location, to be the new home of the public radio station.

For more than three decades, KSUT has been located in a building more than 80 years old, and it outgrew the space years ago, the news release said.

In 2012, the KSUT board of directors adopted a comprehensive plan to update many of its operations.

The period for KSUT to reach its $1 million goal started on June 27, the day the Tribal Council approved the resolution for a matching fund.