RICHMOND, Va. — Eyeing several capital projects around its campus, the University of Richmond is seeking financing for the projects through the state.
The university has requested $51 million in bond proceeds from the Virginia College Building Authority, a state authority that provides financing for public and private colleges in Virginia, to fund improvements at the campus library, a renovation of the university’s steam plant and a student housing project.
UR’s application is due to be considered by the authority’s board Thursday afternoon (today). As part of the same application, UR also is requesting $60 million to refinance a series of bonds from 2012 that were provided by the same state authority.
As part of the request, the authority would lend the proceeds of the bond issuance to UR. The negotiated public sale of the bonds would take place on or around Feb. 19. The bonds would have a fixed-rate structure.
EAT IT, VIRGINIA restaurant news and interviews
