The Winthrop Board of Trustees has approved a $21 million financial debt issuance to be utilized for renovations regarding the maintenance and improvement of housing and dining facilities, as well as the consideration of constructing a new dining hall dependent on budget flexibility.
The finances allotted from the motion will be split between the housing and dining facility needs. $9 million of the sum will go to improving and maintaining housing facilities, including replacement of the Phelps Hall roof and the renovation and replacement of Lee Wicker Hall’s mechanical, electrical, HVAC, plumbing and roof needs, according to information collected by Communications Coordinator, Nicole Chisari.
The remaining $12 million will be used for renovations of the Thompson Dining Hall or the construction of a new dining facility depending on cost-effectiveness, according to Chisari.
The resolution was brought forth by the Committee of Finance Chair, Randy Imler. Imler said that the information in their report was compiled by a committee made up of representatives from the Winthrop Real Estate Foundation and members of the Committee of Finance over the course of two years to examine housing and dining facility needs. Imler also said that the committee employed the aid of a Public Financial
Management consultant to run over 20 projections to certify the need for funds towards certain projects.
Additionally, board members approved a motion to hold the tuition costs for the Summer 2021 semester at the same discounted rate as 2020. The decision to lower the price of tuition for the summer semester was approved by the Board last year due to financial challenges imposed by COVID-19.
The discount applies to all graduate and undergraduate courses, regardless of whether they are online or in-person. The decision applies a 29.5% cost reduction to summer courses compared to spring and winter tuitions, according to Chisari.
The motion’s introduction elicited surprised but positive reactions from many board members. The Board of Trustees Chair Glenn McCall said the motion’s approval was the “right thing to do as a result of COVID.”
Photo courtesy to Winthrop University
