Northern Marianas College Board of Regent chair Frank Rabauliman looks forward to exploring financing options to help the college push through with its facility reconstruction.<\/p>\n
He called a recent dialogue with U.S. Department of Agriculture area director Joseph Diego for a loan \u201cexciting.\u201d He said the college has taken important steps in addressing facility improvement, and that he is glad they are involving other grant agencies to help \u201crealize the huge investments\u201d in college reconstruction.<\/p>\n
But he also said it would \u201cnot be an easy walk in the park,\u201d and may require creative financing on the college\u2019s part and constant dialogue with grant agencies and government.<\/p>\n
The USDA rural economic development loan would have an \u201cexcellent interest rate\u201d of 3.75 percent, according to college president Dr. Sharon Hart earlier.<\/p>\n
But she also said the loan\u2019s availability would depend on ensuring in the long run that a repayment source is identified for a loan that usually maxes out at around 35 to 40 years.<\/p>\n
\u201cThe important thing for us is coming up with a plan and sitting down with our local leaders\u2014especially the governor and the Legislature\u2014to really get into those discussions about the future campus of NMC,\u201d she had said.<\/p>\n
The college has not undergone major reconstruction since it was built on or about 1955 as a single story, semi-concrete hospital.<\/p>\n","protected":false},"excerpt":{"rendered":"
Northern Marianas College Board of Regent chair Frank Rabauliman looks forward to exploring financing options…<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1496,2136,133,938],"class_list":["post-192139","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-frank-rabauliman","tag-joseph-diego","tag-run","tag-sharon-hart"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/192139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=192139"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/192139\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=192139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=192139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=192139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}