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Panel hears update on student housing grants; administration to prioritize completing approved projects
Summary
Finance and the Chancellor's Office updated the subcommittee on the higher education student housing grant initiative, noting 11 of 13 originally approved community college projects remain active and the administration's priority is to complete approved projects; members asked about returned funds and statutory changes to allow reallocation.
The subcommittee received an update on the higher education student housing grant program, a multi‑year effort to finance affordable student housing at higher education institutions.
Alexandria Velasquez and Alexandra Waldman from the Department of Finance reviewed the administration's approach. The 2024 Budget Act shifted projects to a lease revenue bond structure and the governor's 2025–26 budget continues debt‑service support for approved projects. Finance confirmed the governor's budget…
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