EYEWITNESS LOCAL NEWSKanawha Commission Approves $30 Million Bond Sale For Project
from Eyewitness News Online
Reported by: Kennie Bass
Videographer: Matt Durrett
Web Producer: Kennie Bass
Reported: Jul. 30, 2013 7:09 PM EDT
Updated: Jul. 31, 2013 5:12 AM EDT
Charleston , Kanawha County , West Virginia
As work continues on new improvements to West Virginia State University's gymnasium, plans are falling into place to build a $30 million residence hall on campus.
In a special emergency meeting, the Kanawha County Commission approved the sale of bonds to fund the project.
"We believe that this is absolutely vital for our institution," Melvin Jones, vice president for business and finance at WVSU, said. "We want to create a healthy student life atmosphere and to do that we need students on campus. And to attract students to stay on campus we have to have certain amenities that they are used to and absolutely insist upon having this day and time"
The West Virginia State University Foundation will actually lease the property the 291-bed residence hall will sit on and retain it until the bonds are paid off. That's when the lease expires and everything reverts back to the school.
The foundation's president said a new residence hall is critically important to help recruit new students to the Institute school.
"When attracting students to colleges today probably the most important thing they look for is a quality academic program but very close behind is the quality of their residential experience," Patricia Schumann, president of the WVSU Foundation, said. "And this will make West Virginia State a contender in that regard."
Despite the Kanawha County Commission's involvement, taxpayers aren't responsible for any of the $30 million bond money.
"The taxpayers of Kanawha County are absolutely insulated from any liability or payback should there be a default," Kent Carper, president of the Kanawha County Commission, said.
Construction on the new residence hall is scheduled to begin in August, with the official groundbreaking ceremony set for Sept. 20.
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