POSTED: 1:30 a.m. HST, Nov 26, 2010
The University of Hawaii is in the midst of a $586 million construction boom financed by both taxpayer and university bonds.
UH President M.R.C. Greenwood told the Board of Regents last week that the university is helping boost the state's economy and construction industry.
More than half of the money to pay for the projects comes from university-issued bonds that will be paid back through UH funds.
UH Chief Financial Officer Howard Todo said the university got a favorable
3.7 percent interest rate on this year's bonds.
The projects financed by this year's $100 million bond sale also include
$6 million for Sinclair Library basement renovation, $33.5 million in energy conservation and efficiency projects at UH community colleges and $28 million to pay part of the cost of a new Information Technology building.
FUND IT AND THEY WILL BUILDBelow is a breakdown of current UH construction spending:
» Repair and maintenance projects:
» UH-West Oahu Kapolei campus: $113 million
» UH-Manoa Cancer Center: $119 million
» Windward Community College Learning Resource Center: $21 million
» Maui Community College Science Building: $22 million
» UH-Hilo Student Services Building: $19 million
» UH-Manoa Campus Center: $30 million
» UH-Manoa Information Technology Building: $45 million
» UH-Hilo Hawaiian Language Building: $32 million