|
|
Published December 20, 2008 11:49 pm - The organization paying for construction at Missouri universities will end the year $12.5 million behind in payments to the state, but it hasn’t affected work on Missouri Southern State University’s Health and Sciences Building.
Building projects should still receive funds
By Melissa Dunson
mdunson@joplinglobe.com
The organization paying for construction at Missouri universities will end the year $12.5 million behind in payments to the state, but it hasn’t affected work on Missouri Southern State University’s Health and Sciences Building.
The Missouri Higher Education Loan Authority board recently voted to delay the last quarterly $5 million payment of the year, due later this month. The board also voted to delay the September payment and paid only half of the June payment, according to MOHELA’s December meeting documents.
MOHELA representatives did not return a phone call to the Globe Friday, but previously said a combination of the national economic collapse and changes in federal regulations have created financial problems for the organization.
MOHELA is scheduled to pay $350 million to the state over the next 15 years to fund construction at Missouri universities. Missouri Southern has been promised $18.9 million of that to pay for the new Health and Sciences Building. Terri Agee, MSSU senior vice president of business affairs, said the school has received all the money it was supposed to receive for project so far, including a $182,000 payment just received Thursday.
Local projects
To date, Missouri Southern has received $3,768,405 from MOHELA for the project, Agee said.
Bruce Speck, MSSU president, said university officials haven’t had any problems getting the MOHELA money and they hope it stays that way. Speck said he’s been told any MOHELA-backed projects that are already well-advanced should continue to receive funding to completion. But he said he has also heard that projects still in the planning stages could be put on the back burner again.
In that scenario, Missouri Southern’s project should be safe. Agee said crews with Dalton-Killinger Construction are hanging steel for the building’s second story and could soon be pouring the third-story floor. The firewalls, staircases and elevators are already blocked in and utilities and mechanical equipment have already been added. She said construction should be done by early 2010, and officials hope to open the building for classes in summer or fall of that year. The entire project is estimated to cost more than $24 million.
Crowder College in Neosho also had a new academic building project hinging on the MOHELA funds. But as of this summer, the college had received all of the promised funding, including $2 million for the new academic building and $200,000 for maintenance and repair costs to other buildings.
Financial troubles
MOHELA’s ability to pay the promised $350 million has been in question since before the projects even started.
The loan authority sold some of its assets and tapped into excess cash to transfer the initial $230 million Lewis and Clark Discovery Initiative payment to the state in 2007 after the law creating the initiative passed the state Legislature. Since that initial payout, MOHELA has only paid in $12.6 million. The organization is scheduled to pay $107.5 million more toward the Initiative.
Earlier this year, MOHELA reported a loss in the first half of the organization’s fiscal year. It was the first loss reported in MOHELA’s 27-year history. In May, MOHELA’s board also decided to stop offering discounted interest rates to new borrowers who pay with automatic withdrawals and for students going into public-service professions in Missouri, such as teaching, policing and nursing.
•
Click to discuss this story with other readers on our forums.
|
|
Announcements



: Special Offer For New Subscribers
:


 |
|
|
|
1999 PONTIAC GRAND AM
2 door, spoiler, sharp, loaded, automatic, air, CD, extra nice, $2600. 1317 Schifferdecker, Joplin....>MORE
2002 KIA OPTIMA EX
4 door, sharp, loaded, leather, CD, sunroof, extra nice, $3200. 1317 Schifferdecker, Joplin....>MORE
2002 BUICK RENDEZVOUS
4 door, luxury leather trim, loaded, CD, sunroof, beautiful rig, extra nice, $4500. 1317 Schifferdecker...>MORE
1998 CHEVROLET TRACKER
removable hard tops, automatic, air, CD, sharp, $2500. 1317 Schifferdecker, Joplin....>MORE
OLDSMOBILE 2003 SILHOUETTE VAN
OLDSMOBILE, 2003 Silhouette mini van, 107,000 miles, scooter/wheelchair hoist, nice, $7000. (417)776-3219....>MORE
1989 CHEVROLET STEPSIDE
350, V8, custom flames, runs great, $2500. 417-208-6717...>MORE
2002 FORD TAURUS SE
nice car, 3.0 liter V6, $2900. 417-850-0731....>MORE
JEEP 2000 CHEROKEE SPORT
JEEP, 2000 Cherokee Sport, 6 1/2” lift, 35” foggers, locked front end, welded rear end, off road use, winch not included...>MORE
HONDA 2001 CIVIC EX
HONDA, 2001 Civic EX, 4 door, automatic, 94,000 miles, $5800; 1998 Accord, 4 door, $4200; 1999 Honda Prelude, automatic...>MORE
HONDA, 2007 FIT SPORT,
customized interior package, automatic, air, AM/FM/CD, cruise, great mpg, low miles, excellent condition, $11,800. (417)...>MORE
See all ads |
|
NEWER 3 BR/2 BA
Lots of upgrades and great location. $149,000 but all offers considered. 903 Katlin, Carl Junction. Pictures www.fsboloc...>MORE
Deerfield Estates
in Carl Junction, prime building sites, reduced $10,000 each. 417-825-0052...>MORE
See all ads |
|
NEW IN BOX
New in box, Lucchese cowboy boots, black, size 9D, $200. (620)231-9256...>MORE
5TH WHEEL
5TH WHEEL, 2004 Prowler Regal, 26’, 2 slides, loaded, nice. (620)674-2127....>MORE
ANGUS HEIFERS
6 Augus heifers, good foundation stock. (417)358-7519...>MORE
YORKIES
12 weeks old, 2 males, AKC, 1st shots, $175. 417-291-6590, Webb City...>MORE
POODLES
POODLES, standard pups, born 10/10, registered, shots, wormed, family raised. Adorable personalities! 417-673-3892....>MORE
INDIAN HEAD PENNIES
INDIAN HEAD PENNIES, 35% Civil War II nickels, V nickels, Buffalo nickels, lots of other coins. Garage full of antiques ...>MORE
(2) TEACUP CHIHUAHUA
APRI puppies. (417)673-1997....>MORE
POODLE, FULL BLOODED
POODLE, full blooded, $75 or best offer. (417)385-8710 after 4:30 p.m....>MORE
ENGLISH BULLDOG PUPPY
male, AKC, fawn/white, champion bloodlines, $900 or best offer. (417)396-3340...>MORE
REWARD $50,000 REWARD
Offered for any information leading to conviction of any person or persons known to have been involved in alleged ...>MORE
See all ads |
|
 |
|