CCCC trustees authorize plan to finance equipping of new tech ed building

Following the announcement last week that Cloud County Community College would break ground on its 33,725-square-foot Technical Education and Innovation Center on March 29, the college board of trustees approved a resolution related to the project during a special meeting on Friday.
The resolution approved by the board of trustees authorizes the college to commence negotiations to enter into a lease purchase agreement and to issue certificates of participation to provide financing for the equipping of the Technical Education and Innovation Center at an estimated cost of $4.3 million.
It is stated in the resolution that it would be in the best public interest to acquire specified improvements to the new facility through the execution and delivery of a lease purchase agreement.
Improvements listed in the resolution include HVAC, asphalt, information technology equipment, floor coverings, furniture and cabinets and a digital sign.
Ranson Financial Group LLC has been authorized and directed to receive bids on behalf of the college from financial institutions for the purchase of the lease purchase agreement certificates.
The bids will be presented to the board of trustees for review and approval or rejection during a special meeting scheduled for April 4.
The board approved the resolution following a 10-minute executive session for the purpose of confidential financial information pertaining to a business or vendor that included college president Amber Knoettgen, vice president for administrative services Caesar Wood, college attorney Justin Ferrell and Larry Kleeman.
“I want to thank the board of trustees for their unwavering support for the Technical Education and Innovation Center. I would also like to thank our community and state-wide partners committed to this project as well. The impact of this facility is true to our mission in preparing students to lead successful lives and will play a significant role in enhancing the vitality of our communities,” Knoettgen said in a statement during the meeting. “We have stated that we do not plan to use taxpayer dollars to construct this facility and this intention remains true. Although we had 100 percent fundraised, inflation has placed a gap between the amount fundraised and the cost of the construction. As such, we appreciate the board of trustees considering a lease purchase agreement for the equipment needs of the project. This will provide the college time to continue the final stages of fundraising over the next year without losing momentum. The payments will be made from non-taxpayer dollars provided through grants and industry donors. The lease purchase agreement will also allow us to pay off funds as they are raised. The support of the grants and donors has been overwhelming. The college will work with the CCCC Foundation to secure additional grants and donations to cover the remaining funds.”
The projected cost of the Technical Education and Innovation Center is $18 million. It will be constructed on College Drive between the college and Walmart and will house the renewable energy, nursing and allied health and agriculture and industrial development programs.
The new facility is expected to begin serving students in the fall of 2024.