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UC seeks permission to reallocate student housing debt‑service savings to fund Davis and Santa Barbara affordable beds; LAO, Finance flag process questions
Summary
UC told the budget subcommittee it has debt‑service savings from prior student housing bond sales and requested legislative permission to use those savings to add affordable beds at UC Davis and UC Santa Barbara.
University of California officials told the subcommittee the system has identified debt‑service savings from previously approved student housing bond sales and asked the Legislature to authorize use of those savings to add affordable beds at UC Davis and UC Santa Barbara.
Seiya Vertanen (UCOP) said UC campuses added more than 25,000 housing beds over the last decade and that recent bond sales produced savings that could expand affordable beds. UC requested authorizations to add an estimated 216 affordable beds at Davis…
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