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LCTCS says it submitted $250M in deferred‑maintenance projects; system’s share of initial state allocation is about $15M
Summary
System staff told the board that House Bill 940 (Act 741) created a statewide deferred‑maintenance program. LCTCS submitted roughly $250 million in projects from a $2 billion statewide need; the Legislature provided $75 million for higher education this year and the system’s immediate allocation is about $15 million to begin work through tranches of bond sales.
Joe Maren updated the board on statewide deferred‑maintenance funding stemming from House Bill 940 (noted in the meeting as House Act 741). Maren said LCTCS identified a little over $250 million in campus projects within a broader estimated statewide deferred‑maintenance need of about $2 billion.
Maren explained the funding will be phased via bond sales over as many as 20 years; the Legislature provided $75 million for higher education in the initial tranche and LCTCS’s portion of that initial amount is roughly $15 million. He noted the work will address HVAC, ADA, electrical infrastructure and other deferred items and that colleges will be prioritized through an approved list at the Joint Legislative Committee on the Budget.
Board members were given the update as information. Maren emphasized that the $75 million is an immediate start fund and that full remediation will require multiple tranches of financing and further approvals.
Ending: Staff said they will begin the administrative process to move approved projects forward and will report back as the Joint Legislative Committee on the Budget and other state offices process the project list.
