LCC secures record-breaking bond after vote
Lane Community College successfully passed the $121.5 million bond with more than 58 percent of the votes on May 19.
The bond money will be overseen by a committee comprised of 11 individuals. According to LCC’s webpage, the committee will include “three to five residents at-large, three members from the construction industry, and three members from the college including one faculty member, one classified staff and one student.”
The funds will not be one large lump sum to spend. “You only sell what you’re going to use in a time period,” President Margaret Hamilton said. ” So in other words, you can’t just take $121 million and put it in the bank.”
Hamilton says that in late-Fall 2020 there will be a bond sale. “We have something called Bond Council that helps sell the bonds that gets you [LCC] the money,” Hamilton explained.
Before they receive the funds from the bond sale, Hamilton and her administration will have to propose a project plan for the next couple of years. These plans and processes are being developed.
“I will find out more,” Hamilton said, “after we talk to the Bond Council.”
The timeline for the proposed projects is vague and will become more clear in the near future. “The time frame for that is we go right to the table and start planning the building now,” Hamilton said.
The largest project in the works is the construction of a new building on the main campus. They are expected to break ground in the summer of 2021.
