There isn't a condition on the campus at the UO. The wording in this article is a little vague and I'm not sure why. The Knights gave $500M, no strings attached. It is actually $50M a year for 10 years. 

The campus itself is envisioned as a billion dollar project, and the UO is asking the state to fund 1/10th of it. If Oregon doesn't, they will look elsewhere for the money to fully realize the vision. The Knights may like the early progress enough to fill in the rest, even.