For Immediate Release: October 26, 2018
R.I. Health and Educational Building Corporation Issues $8.75 million in Higher Educational Facility Revenue Bonds on Behalf of Roger Williams University
PROVIDENCE, R.I. – The Rhode Island Health and Educational Building Corporation (RIHEBC) announced the issuance of $8.75 million in Higher Educational Facility Revenue Bonds on behalf of Roger Williams University (RWU).
The tax-exempt bonds closed on October 19, 2018, and will be used to finance capital projects at the University’s main campus in Bristol, including an approximately 28,000 square foot, engineering laboratory building, and renovations and repairs to the Wind Hill building. The School of Engineering, Computing and Construction Management (SECCM) Labs building will represent a crucial addition to SECCM, which is experiencing significant growth while facing mounting competition. Plans call for a three-story building that will be a state-of-the-art facility equipped to provide the highest-quality experiential learning experience for RWU students. For example, it will include a two-story Construction Management High Bay, with an overhead crane; a Fluid Mechanics Laboratory; and a Building Information Modeling/Virtual Reality Laboratory, where two-dimensional design will meet the three-dimensional “real world.”
The University’s roots date back to 1956, when it started as a junior college inside the Broad Street Providence YMCA. Today, Roger Williams University has more than 75 program offerings on two campuses in coastal Bristol and Providence.
RIHEBC is Rhode Island’s largest municipal and non-profit financing entity, with more than $8.7 billion in bonds issued over the past 52 years.
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About The Rhode Island Health and Educational Building Corporation
The Rhode Island Health and Educational Building Corporation (RIHEBC) mission is to assist eligible borrowers to secure funding for capital projects, especially tax-exempt debt financing. Eligible borrowers include municipalities, public school districts, and public and private nonprofit educational and healthcare organizations. RIHEBC endeavors proactively to develop cost-effective, efficient, and user-friendly financing programs. RIHEBC provides borrowers access to high quality professional and technical resources, including staff expertise and assistance. For more information visit www.rihebc.com.