Limestone College Pursuing Financing Plan To Construct New Library And Student Center
The first steps toward major facility improvements at Limestone College were taken during a recent meeting of the Board of Trustees.
The Board voted unanimously last week to pursue a relationship with the U.S. Department of Agriculture that would enable the institution to accelerate a building plan that will have a major impact on academics and student life at the College.
At its annual business meeting on Thursday, Oct. 26, the Board members decided to pursue an opportunity to acquire a low-interest multi-million dollar loan that would help finance the construction of a new state-of-the art library and a first-class student center. The move would also refinance the College’s existing debt.
Board chairperson Randy Hines said that the capital that Limestone is considering comes from the USDA Rural Development Community Facilities program that is often used by colleges, schools, churches, and other groups to build and improve facilities that serve rural communities.
“Limestone College is looking to further invest in the education of its current and future students, while also making a tremendous impact in the Cherokee County community,” Hines explained. “We want to provide Limestone College students, faculty, and staff with the very best resources possible, while also improving the social aspect for our students. A new library and student center will go a long way in meeting those goals. We are committed to digging deeper into this new building plan financing and we look forward to announcing more details in the near future. We are excited about the future of Limestone, and we know that our present and prospective students will be, too.”
The need for the new construction comes in response to institutional growth that has stretched the capacity of Limestone’s current facilities, said Board of Trustees Vice-Chairperson David Riggins.
“This project will be crucial for overall improvements and upgrades,” Riggins explained. “Because of the tremendous job that our President, Dr. Walt Griffin, has done at Limestone, these new facilities are very much needed to serve our campus. Dr. Griffin has been the driving force behind our College’s evolution over the years, and the new library and student center will be a part of his enduring legacy of revitalization at Limestone.”
The College’s recent capital campaign raised over $6 million for a new library, and the USDA partnership would fast-track that construction. Hines said that Limestone’s Development office would continue to work diligently to raise funds for future building projects and to help supply the annual USDA loan payments.