News

BRCC would receive $3M from bond issue

By Bill Moss, Published: January 11, 2016

Blue Ridge Community College would receive almost $3 million if voters approve a $2 billion bond issue for state universities, community colleges, water and sewer systems, parks, agriculture and National Guard facilities.

Henderson County, community college and city officials gathered Monday morning in an invitation-only meeting to hear about the benefits of the bond issue.

BRCC would receive $2.97 million for new construction, repairs and renovations, according to a list of the allocations that would happen if voters OK the borrowing plan in a March 15 referendum. Western Carolina University would get a $110 million STEM building (science, technology, engineering and math) and UNC Asheville would receive $21.1 million for an addition and renovation at Owen Hall. The Mountain-to-Sea hiking trail would get $4.5 million and Gorges State Park in Transylvania County would receive $2.5 million.

Among the biggest proposed outlays are a $75 million engineering building at N.C. State University, a $90 million engineering building at N.C. A&T University in Greensboro, a $68 million medical school replacement building at UNC at Chapel Hill, a $90 million science building at UNC Charlotte and a $105 million nursing school building at UNC Greensboro. The bonds would also fund $309.5 million for water and sewer systems across the state and $94 million in agricultural projects.

The bond issue, which has been labeled Connect NC, has the support of Gov. Pat McCrory and most legislative leaders.

“The Connect NC bond will allow us to pay for 50-year assets with 20-year financing,” McCrory said in a message on the Connect NC website. “No tax increases are necessary to finance the bond, given our strong revenue growth and ample debt service capacity. We will continue to balance the budget and uphold our position as one of only 10 states to have earned the coveted Triple A bond rating from all three major ratings agencies.”