July 2023
State Converts CCC Student Housing Grants to Revenue Bonds
Non-Proposition 98 General Fund (In Millions)
Project Costa | |
CCC Projects Approved in 2022-23b | |
Fresno City College | $34.1 |
College of the Siskiyous | $32.6 |
Ventura College | $62.9 |
Sierra College | $80.5 |
Napa Valley College | $31.0 |
Santa Rosa Junior College | $15.0 |
Consumnes River College | $44.1 |
Compton College | $80.4 |
Lake Tahoe CCD | $39.4 |
Bakersfield College | $60.2 |
College of the Canyons | $61.9 |
Imperial Valley Collegec | $4.6 |
Subtotal | ($546.7) |
CCC Projects Approved in 2023-24b | |
Cabrillo Collegec | $111.8 |
Riverside City Collegec | $75.0 |
Merced Collegec | $50.0 |
San Diego City College | $75.0 |
Cerritos College | $68.0 |
College of San Mateo | $55.9 |
College of the Redwoods | $28.4 |
Subtotal | ($464.1) |
Total | $1,010.7 |
Debt Service | $78.5 |
a Reflects state cost. Some projects supplement state funds with campus reserves or nonstate funds. | |
b The 2023-24 budget package rescinds upfront one-time General Fund cash for CCC student housing projects. Community colleges may issue local revenue bonds for all projects the state approved in 2022-23 and 2023-24. | |
c Reflects an intersegmental project involving a university campus. | |
d Reflects an ongoing General Fund augmentation intended to cover colleges' cost of borrowing (principal plus interest). |