Governor Tim Kaine is proposing an historic $1.65 billion general obligation bond for higher education.
You can read the details in this press release from his office:
“The proposed bond package supports innovative research, providing facilities across Virginia for researchers to develop new, cutting-edge technologies and turn them into commercial assets,” Governor Kaine said. “Our colleges and universities also help us build a workforce prepared to compete in a global economy. These investments will help Virginia’s higher education network keep delivering for our future.”
You can see all of the projects the bond money would be used for by clicking on this link.
- $340 million – 22% of the bond – would be directed to projects at Virginia’s Community Colleges. (That’s a four-point increase over the 18% of the 2002 bond that went to community colleges.)
- That money would be used for 28 specific projects including at least one on each of the 23 VCCS colleges.
- The majority of those community college projects are focused on enhancing VCCS workforce development efforts.
To be enacted, the proposal must be approved in the 2008 session of the General Assembly and then again by the voters in fall 2008. Governor Kaine says that timing would allow the money from the new bonds to pick up just as the projects supported by the 2002 bond are wrapping up – ensuring there’s no gap in the building and renovations of Virginia’s higher education system (the 11th largest in the nation).
Posted by Jeff Kraus