SCC Board approves financing plan for Lincoln Campus Welding Center
Community college also reports an increase in enrollment
By News Channel NebraskaBEATRICE – Southeast Community College has approved the financing mechanism for a new Welding Technology Center at the Lincoln Campus. The college’s board, meeting in Beatrice, approved the issue of certificates of participation of up to $31.5 million for the center….which will be backed by revenue from the college’s two-cent capital improvements tax levy.
The certificates hit the market next week, at an estimated 4.8% interest rate.
The 98,000 square foot facility is one of two welding facilities the college is building. Site work and footings for a center on the Beatrice campus are underway.
The SCC Board also approved the guaranteed maximum price of the Lincoln project under a construction management arrangement with Hausmann Construction. That price is slightly less than 34.4 million.
The SCC board also authorized a construction contract for a third phase loop road and utility project on the Lincoln Campus, totaling just over $2 million. Sampson Construction has been awarded the contract for the work.
SCC President Dr. Paul Illich reported that the college is seeing higher enrollment based on fall term figures. "Our enrollment ended up just under four percent...up overall with a nine-percent increase at Milford, five percent at Beatrice and about two percent in Lincoln. We are up considerably from the spring."
One step that could increase reimbursement to the college is a request to the Higher Learning Commission for Pell grant eligibility in a Nebraska prison training program. SCC would provide training for inmates to equip them with workforce skills they can use when they are released from custody.
Illich reported Tuesday that about $22 million has been raised so far in a capital campaign to generate $50 million in support for projects at SCC.