Final
Mesa State College New Residence Hall 202 Request
COMMITTEE ON
CAPITAL DEVELOPMENT
Votes:
Action Taken:
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08:40 AM -- Mesa State College New Residence Hall 202 Request
Mr. Jake Zambrano, Phase Line Strategies and representing Mesa State College presented the request to the committee. Mesa State College requests $19,200,000 in cash funds exempt (CFE) spending authority to design and construct a new residence hall. The facility will include 250-300 beds. The requests includes funding for parking. See Attachment A for the staff write-up for this request.
The project is a SB 92-202 request, meaning that the facility will be designed, constructed, and operated with non-state funds. The project will be funded using proceeds from the sale of housing bonds. The project will be financed over a 25-year period at an approximate interest rate of 4.5 percent. Student rents will repay the bonds.
Committee members had several questions for Mr. Zambrano. Most of the questions solicited additional information on the design of the facility and the projected rents paid by students for housing in the new facility. Mr. Zambrano replied that many details have not been determined yet as the project will be constructed using a design/build model. He stated that designs cannot be completed until Mesa has spending authority to procure a contractor. He told the committee that the college would try to have answers to these questions in September when the committee visits the college.
Representative McFadyen took the request off the table and the committee plans to revisit the request during their September 14-17 tour of the western slope.