Tuesday, November 23, 2010

If They Build It (With Federally Subsidized Bonds), Someone Will Come

If only we could get the LA-area unemployment rate up higher, maybe UCLA could get some of those bonds. See below:

UC Merced turns to federal bonds (excerpt)

Jamie Oppenheim, November 23, 2010, Modesto Bee

MERCED — Merced County's recent classification as an economic recovery zone has been a boon to the University of California at Merced — making its future expansion more affordable. That could mean lots more construction jobs and a positive trickle-down impact on the area's economy. Merced County supervisors recently gave the OK for UC Merced to use low-interest recovery zone bonds, designated for areas with high unemployment, for the construction of a $49.7 million residence hall. Merced County supervisors declared the county an economic recovery zone in January, which allowed the university to qualify for the federal bonds, part of the American Recovery and Reinvestment Act…

John White, UC Merced vice chancellor for Capital Development, said the UC can get other types of bonds, but this was the most attractive financing option because it discounts the cost of financing significantly. Chin said the university may be the state's only public university that has taken advantage of these bonds… "We hope that this will go out to bid summer 2011," White said…

Full article at

Good idea:

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