“Building Affordability” will improve higher education facilities and help maintain Missouri’s status as a national leader in holding down tuition hikes
WARRENSBURG, Mo. – Gov. Jay Nixon today visited the University of Central Missouri to announce more than $12 million in improvements and renovations made possible through Building Affordability, an initiative proposed by the Governor in collaboration with public colleges and universities and passed with bi-partisan support in the General Assembly this year.
“This $200 million investment by the state will help colleges and universities like UCM make the capital improvements that are needed to prepare students for high-tech careers, without raising tuition to cover the costs,” Gov. Nixon said. “We will continue to invest in our higher education campuses so that students graduate with the skills they need to start a career, not a mountain of debt.”
At UCM, Building Affordability will provide more than $12 million to make needed repairs and improvements at the W. C. Morris Science Building. As part of the first significant renovation of this building since its construction in 1967, upgrades will be made at laboratories and classrooms used for classes in mathematics, chemistry, physics, biology, cyber security and computer science.
“Preparing students for 21st century careers requires 21st century facilities. The renovations to our science building made possible through this initiative will help ensure that UCM students pursuing STEM careers have access to the resources they need to be successful,” said University of Central Missouri President Chuck Ambrose. “We applaud Gov. Nixon and the General Assembly for continuing to make higher education a priority for our students and our state.”
Building Affordability is a component of Build Missouri, a capital improvements initiative that will fund nearly 500 projects in every corner of the state through bond proceeds and other sources. Build Missouri includes bond proceeds for repairs and renovations at state facilities, veterans homes, state parks and higher education campuses, and for the completion of a new state-of-the-art mental hospital in Fulton, as well as non-bonding sources for other projects, including conservation areas, highway patrol facilities, and other facilities.
Through Building Affordability, Missouri is investing $200 million in higher education campuses throughout the state. These additional investments by the state will help colleges and universities make needed renovations and improvements to their campuses without raising tuition to cover the costs of these projects.
Over the past six years, the Governor’s administration has paid down hundreds of millions of dollars in state debt. Based on current projections, after the implementation of Build Missouri, state government will still have lower levels of state-issued bonding debt than when the Governor first took office.
Last week, as a result of a strong record of fiscally responsible budget management, Missouri’s AAA credit rating was reaffirmed by the rating agencies. This allows the state to benefit from low interest rates, and makes long-term capital investments more affordable.
