ADICA approves ASU's $45 million bond request - WALB.com, Albany News, Weather, Sports

ADICA approves ASU's $45 million bond request

Posted: Updated:

By Cade Fowler - bio | email

ALBANY, GA (WALB) – Albany State University gets the go-ahead to begin construction on a new dormitory and student center.

ASU representatives asked the Albany Dougherty Inner City Authority to issue $44 million dollars in bonds for the project.

Some board members worried that in a worst case scenario taxpayers could get stuck with a bill.

They were assured the 30-year bonds are backed by the Board of Regents.

"There's no obligation of ADICA the county or the city. It's all on the students and university. There will be a foundation set up to be the owner," says Larry Wakefield, ASU Vice President of Fiscal Affairs.

A-S-U hopes to increase enrollment by up to 5-thousnad students over the next 5 or 6 years. The new housing and student center will be built near the HPER gym starting in August.

Construction should take about a year.

 

©2010 WALB News. All rights reserved.   Feedback

Powered by WorldNow