BLINN TRUSTEES TO DISCUSS HOUSING AT MONDAY MEETING

  

The Blinn College Board of Trustees will discuss a revised financing plan for a student housing complex, when they meet in special session, Monday.

The project will be funded by a non-profit organization established to provide tax-exempt financing specifically for this project.  It came about as an agreement between Blinn and Servitas LLC for development of new student housing.

Construction costs are estimated at $38.8 million.

The new housing would accommodate 465 students, which could generate approximately $3 million in annual tuition, fees and state reimbursement.

The college and National Campus and Community Development-Blinn College Properties LLC, would enter into a 40-year ground lease.  Upon loan repayment by NCCD, the facility will revert to Blinn.

Blinn’s Brenham campus currently has a capacity of 1,326 students, but the waiting list for housing has reached more than 900 students in recent years.

The board will meet at noon in the administration building, 802 Green St.

 

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