OTC to acquire financing for capital improvement projects in Hollister, Lebanon and Springfield

OTC to acquire financing for capital improvement projects in Hollister, Lebanon and Springfield

Tuesday, June 15, 2010

Media Contact

Mark Miller
College Director of Communication 417.447.2655 millerm@otc.edu
Laura French
Coordinator of Public Information 417.447.2659 frenchl@otc.edu

The Board of Trustees of Ozarks Technical Community College has approved a plan to acquire financing for several major capital improvement projects in Hollister, Lebanon and Springfield.  The plan, which was approved in the June 14 meeting of the Board, will allow College administration to secure appropriate financing of up to $10 million.

“We will be investing considerable resources into our communities in order to expand our offerings and more effectively serve the citizens in those areas,” explained Dr. Hal Higdon, president of the College.  “While we have a significant need for expansions throughout the College, these projects are a great beginning.”

In Hollister, Ozarks Technical Community College has already begun the search for an ideal facility or site to become the Hollister Education Center.  The College will spend approximately $5 million to complete the development of the center.

The College will spend approximately $3 million to fund infill at the new facility for the Lebanon Education Center, which will include putting in classrooms and parking lots.  Reuben and Mary Lou Casey of San Clemente, Calif., donated the $2.6-million facility in December of 2009.

The Springfield campus project involves the renovation of the large multi-purpose room in the Information Commons West.  The College intends to spend approximately $2 million to divide the room into two levels, which will create a projected 10 classrooms and three offices.

The College intends to have the details of the funding secured by fall of 2010.  Completion of the Lebanon and Springfield improvement projects is expected in the fall of 2011; the Hollister project completion schedule is dependant on securing an appropriate location.