Post by Logan on Jun 28, 2016 5:27:26 GMT -6
The board of Eastern Iowa Community Colleges has unanimously approved the purchase of two downtown buildings for the construction of a new Urban Campus for Scott Community College.
In a meeting Monday, trustees agreed to pay $3.2 million out of reserve funds for the First Federal and First Midwest financial buildings that are between Brady and Main streets, fronting 3rd Street.
If all goes according to plan, construction on the buildings, with a connector building in between, could begin as early as September with classrooms opening in the fall of 2017.
The project is estimated to cost $28 million, to be paid with a combination of a loan, federal and state historic tax credits, new market tax credits, direct investment deferred fees and a capital campaign.
Read more: qctimes.com/news/local/education/eastern-iowa-buys-buildings-for-campus/article_05a6d413-a2b8-5a58-8016-4ef010a07b2d.html
In a meeting Monday, trustees agreed to pay $3.2 million out of reserve funds for the First Federal and First Midwest financial buildings that are between Brady and Main streets, fronting 3rd Street.
If all goes according to plan, construction on the buildings, with a connector building in between, could begin as early as September with classrooms opening in the fall of 2017.
The project is estimated to cost $28 million, to be paid with a combination of a loan, federal and state historic tax credits, new market tax credits, direct investment deferred fees and a capital campaign.
Read more: qctimes.com/news/local/education/eastern-iowa-buys-buildings-for-campus/article_05a6d413-a2b8-5a58-8016-4ef010a07b2d.html