On March 15, 2016, North Carolina voters approved the Connect NC bond initiative. The bond issue will provide $2 billion in funding for infrastructure repair and renovation in the state of North Carolina, 87% of which will be used to support projects at North Carolina Universities and community colleges. The bond will provide payment for assets that last 50 years with 20-year financing, and it includes no tax increase.
The Connect NC bond includes an allocation of $110 million to Western Carolina University for the replacement of the existing, outdated natural science building. The total cost includes demolition of the existing building, design and construction of the new facility, necessary equipment and a steam micro-plant.
Information on the Connect NC bond issuance, funding distribution and bond financing
Infrastructure Bond for the Western Region
Connect NC FactSheet