SCHEV Endorses Higher Education Bond Referendum
Posted: July 23, 2002 at 1:00 am, Last Updated: November 30, -0001 at 12:00 am
At its July 17 meeting, the State Council of Higher Education for Virginia unanimously endorsed the $900 million bond referendum that will be on the upcoming Nov. 5 ballot.
If approved, the bond will provide monies for colleges and universities throughout the commonwealth to upgrade and construct additional buildings to accommodate 32,000 qualified high school graduates anticipated over the next eight years. George Mason is slated to receive $80 million. These funds will pay for the following:
- Research facility on the Fairfax Campus;
- Academic building on the Fairfax Campus;
- Renovation to Thompson and West Buildings on the Fairfax Campus;
- Construction of utility infrastructure on the Fairfax Campus;
- Academic II on the Arlington Campus;
- Renovation to better enable the university to meet federal requirements for disabled access; and
- Redesign of existing facilities to create a conference and peace center at Mason Neck.
In taking action, SCHEV reported that the higher education bond will not increase taxes, nor will it affect Virginia’s “triple A” bond rating. At the same time, it was noted, passage of the bond will generate more than $1.5 billion in near-term economic activity by 2008 and create nearly 14,000 new jobs.