Lincoln Campus residence halls moving forward
Residential housing on Southeast Community College’s Lincoln Campus took a step closer to reality Tuesday when the Board of Governors approved bond sales not to exceed $26.5 million to fund construction of the project.
The Board took action during its regular monthly meeting at the Jack J. Huck Continuing Education Center in Lincoln.
SCC’s Lincoln Campus, which formed in 1979, has never had on-campus housing. But a 250-bed facility is being planned. Construction on the facility would occur once the Board approves financing, which is expected to happen later this calendar year.
Revenue bonds are a class of municipal bonds issued to fund public projects which then repay investors from the income created by the project. In SCC’s case, the bonds would be repaid through revenue collected in room and board fees, student fees and revenues from the campus (book) store.
There is demand for student housing on the Lincoln Campus. Three years ago the College surveyed students between the ages of 18 and 24 to gauge their interest in living on campus. Forty-one percent indicated they would be very or moderately likely to live in on-campus housing. Considering today’s Lincoln Campus student population would mean that more than 1,000 students would be very or moderately likely to live on campus.
Consultant Greg Wachalski also surveyed Lincoln Campus students. He found that 57% of those who live with their parents and 43% of apartment renters said that on-campus housing would be “very important” or important” to them.
If all the necessary steps fall into place the housing would be available sometime in 2023.