AUSTIN (KXAN) - On Wednesday, the Michael and Susan Dell Foundation announced that the organization is committing $50 million to help establish the Dell Medical School at the University of Texas at Austin.

In November, Travis County voters approved Proposition 1, which raised property taxes as the main source of revenue to support health care services in the area.

"Between the generosity of the Michael & Susan Dell Foundation and the great citizens of Travis County who voted to transform health care in the community, a powerful public-private partnership has emerged," said Gene Powell, chairman of the UT System Board of Regents. Austin is the new beneficiary of enhanced health care and countless economic development opportunities.

In addition to the $50 million, the Dell family foundation is donating another $10 million to Austin and Travis County community health quality and access programs over the next 10 years.

The Dell foundation was established in 1999. Since then, the organization has helped fun the Dell Children's Medical Center of Central Texas as well as numerous other health services across Central Texas.

The Dell Medical School is scheduled to enroll its first class of 50 students in 2016.

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UT Medical School receives $50 million