Joint UW, Casper College Facility Moves Forward with Revenue Bond Approval
A joint facility to be shared by the University of Wyoming and Casper College cleared a final hurdle today (Friday) when the UW Board of Trustees approved the issuance of $10 million in revenue bonds to cover part of UW's contribution to the project.
The total project budget of $32 million is supported by equal shares from UW and Casper College and was approved by both institutions' boards. UW will contribute $16 million through a $6 million cash contribution generated from historic federal mineral royalty payments, plus the issuance of revenue bonds authorized by the Wyoming State Legislature. Casper College will contribute $16 million through general obligation bonds that were approved by Natrona County voters.
In March, the UW trustees approved a 50-year lease agreement to share space at the planned facility at Casper College. The Casper College trustees approved the agreement in late February. The agreement follows several years of discussion and planning to consolidate all of UW's Casper academic operations to a Casper College location, achieving both schools' goals to continue to provide quality higher education opportunities in Wyoming.
UW President Tom Buchanan says UW/CC has been in Casper for 35 years. The facility is part of an effort to increase the university's presence at community colleges to help offer more learning opportunities, including baccalaureate and graduate programs and other assistance.
In May, 114 graduates received bachelor's degrees through the UW/CC Center, 40 of which were elementary, secondary science and secondary social studies education majors. Degrees were also awarded in communication, criminal justice, English, humanities and fine arts, psychology, social science, Spanish, biology, business administration, political science, wildlife and fisheries biology and management and social work. Master's degrees in education, counseling and zoology were also awarded.
The Casper College Board of Trustees last month approved a guaranteed maximum price of $24.6 million for construction of the facility. Construction is scheduled to begin in the spring, and occupancy of the completed building is scheduled for January, 2014.