Champlain College has financed $7.7 million in new debt through the Vermont Educational and Health Buildings Financing Agency (VEHBFA). The bond was privately placed with TD Bank. The VEHBFA financing will allow the College to construct a 98 bed, on-campus student dormitory.
The College feels its plan to increase the supply of on campus student housing makes the school more attractive to incoming students and increases retention among existing students, thereby improving the school’s financial position.
The dormitory project expects to bring $7.6M into the local economy in construction costs alone. The project’s contractor and subs will employ approximately 160- 200 craftsman, with over 60% of the dollar value of construction going to Vermont based sub- contractors.
Champlain College uses $7.7 million in bonding to build new dorm
Submitted by tim
on