Trustees Approve Bond Resolution For CSC Math Science Expansion

CHADRON – The $29-million dollar expansion and renovation of the Math-Science Building at Chadron State College moved another step closer to construction Thursday with the passage by the College System Trustees of a resolution authorizing the sale of bonds for the project.

Chadron State President Dr Randy Rhine, who took part in the special teleconference trustees meeting from Chadron, is excited about the action – which keeps the project on a timeline for completion by the end of next year.

PLAY SOUNDBITE

The college system bond advisory said 6 major underwriters have submitted proposals and trustees chairman Gary Bieganski, who also took part from Chadron, says the hope is that the bonds go on sale within a few weeks.

The funding plan for the project, more than a decade in discussion, calls for $23-million dollars from the state, $4-1/2-million from Chadron State and donations, and $1.3-million from the state’s 309 Task Force capital construction program.

The trustees last year accepted a basic design from BVH Architecture and selected Adolfson and Petersen as the construction-manager-at-risk primary contractor, but the two determined that the design would cost significantly more than the budget.

Bieganski says the two companies, college system officials, and CSC math science faculty have worked together on more than a dozen revised designs to trim costs while impacting the academic goals of the project as little as possible.

A major source of savings that also cut 6 months off the construction timetable was the decision to move all college operations out of the Math Science building during the work rather proceed in phases working around students and classes. Bieganski says the faculty gets a lot of credit for that.

The legislature approved $2.216-million dollars a year for payments on the 14-year bonds, providing about $28-million at projected interest rates but the bond advisor said rates have dropped over the last 2 weeks. Bieganski says that led the trustees to amend the resolution to allow up to $30-million be spent, just in case more money was available to restore some items that had been cut.

Because of the need to cut the original plan, BVH had to push back the design development phase. The trustees now expect to hold a special meeting in July to review and approve the design to get a final firm figure from Adolfson and Petersen.

The Math Science bond resolution also included extending the bonds issued in 2013 for construction of the CSC Rangeland Center and the library at Wayne State College to take advantage of interest rates.

Print Friendly, PDF & Email

Related posts