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GOCC voted to proceed with housing facility

Glen Oaks Community College’s Board of Trustees voted this week to proceed with the bidding, design and construction of a $6.5 million, 120-bed student housing facility.
Subject to final approval on a USDA low-interest loan, the proposed four-story building would begin with a groundbreaking expected to take place in early summer with plans for the facility to open with the start of the fall 2017 semester.
Glen Oaks president David Devier said eight of the 28 community colleges in the state now have student housing.
Initially, the college looked at working with an investor, but the USDA bonding process offered attractive, low-interest governmental loan rates that benefit overall costs, Devier noted. By lowering costs, the college can pass on those savings to students in the form of lower housing expenses, he added.
The college has received preliminary approval from the USDA for a low interest, 40-year loan to fund the project.

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