(from The Chronicle of Higher Education) Beset by enormous and growing deferred maintenance costs, more colleges and universities are entering into partnerships with private developers that take responsibility for funding and constructing facilities projects in exchange for long-term payments from the institutions. The deals can also free colleges from additional debt and fundraising challenges. In California, for instance, the public-college systems need at least $47.2 billion for construction, renovation and retrofitting over the next five years. The University of California at Merced is in a $1.3 billion public-private project to build nearly 800,000 square feet of additional classrooms, housing and other facilities.
More at The Chronicle of Higher Education
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