NC South Carolina Times

HIGHLIGHTS

• Board members determined three ways to pay for the enhancements: issuing $14.7 million in bonds, using $3.8 million in reserves, and utilizing $2.5 million in funding from state allocations.
• Some smaller projects could be underway by summer 2023, while the eatery and roof work will not likely begin until 2024. 

ROCK HILL, SOUTH CAROLINA – The Winthrop University Board of Trustees authorized the university to spend $21 million to address the aging main dining hall, Eagle Eatery, on campus and renovate portions of at least three residence halls. The vote came during the board’s quarterly meeting on Oct. 21.

Board members determined three ways to pay for the enhancements: issuing $14.7 million in bonds, using $3.8 million in reserves, and utilizing $2.5 million in funding from state allocations.

“The finance committee has reviewed a wide array of information and data related to the university’s auxiliary portfolio deferred maintenance, with particular focus on the on‐campus housing and dining needs” said Vice President for Finance and Business Affairs Justin Oates. “These funds will address areas of increasing concern, and we appreciate the full board’s approval to move forward with these projects and to seek funding from the bond market to support a portion of the funding required.”

The projects are:

1.       New Cafeteria – $10.5 million  (A decision has not been made on whether to revamp the current Eagle Eatery in Thomson or to build in a new location.)

2.       Margaret Nance Hall bathroom renovation – $3.6 million

3.       Phelps and Lee Wicker roof replacement – $5.5 million

4.       Interior repairs/renovations in residence halls, including lobby refresh and common area painting

Some smaller projects could be underway by summer 2023, while the eatery and roof work will not likely begin until 2024. 

Original source can be found here.