{"id":9533,"date":"2012-09-06T23:23:04","date_gmt":"2012-09-07T09:23:04","guid":{"rendered":"http:\/\/www.hawaii.edu\/news\/?p=9533"},"modified":"2021-03-03T15:19:54","modified_gmt":"2021-03-04T01:19:54","slug":"regents-approve-uh-west-oahu-loan","status":"publish","type":"post","link":"https:\/\/www.hawaii.edu\/news\/2012\/09\/06\/regents-approve-uh-west-oahu-loan\/","title":{"rendered":"Regents approve <abbr title=\"University of Hawaii\">UH<\/abbr> West <span aria-label=\"Oahu\">O\u02bbahu<\/span> loan"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><figure id=\"attachment_9075\" aria-describedby=\"caption-attachment-9075\" style=\"width: 630px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.hawaii.edu\/news\/wp-content\/uploads\/2012\/08\/west-oahu.jpg\" alt=\"U H West Oahu campus\" width=\"620\" height=\"166\" class=\"size-full wp-image-9075\" srcset=\"https:\/\/www.hawaii.edu\/news\/wp-content\/uploads\/2012\/08\/west-oahu.jpg 620w, https:\/\/www.hawaii.edu\/news\/wp-content\/uploads\/2012\/08\/west-oahu-260x69.jpg 260w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><figcaption id=\"caption-attachment-9075\" class=\"wp-caption-text\">The construction budget for the new <abbr>UH<\/abbr> West <span aria-label=\"Oahu\">O&#699;ahu<\/span> campus in Kapolei totaled $173 million.<\/figcaption><\/figure>\n<p class=\"clear-photo\">The University of <span aria-label=\"Hawaii\">Â鶹´«Ã½<\/span> <a href=\"http:\/\/www.hawaii.edu\/offices\/bor\/\">Board of Regents<\/a> approved a short term cash advance on September 5 to the <a href=\"http:\/\/westoahu.hawaii.edu\/\">University of <span aria-label=\"Hawaii\">Â鶹´«Ã½<\/span>&#8212;West <span aria-label=\"Oahu\">O&#699;ahu<\/span><\/a> campus as a bridge until its final package of financing, an $18 million loan from a <span aria-label=\"Hawaii\">Â鶹´«Ã½<\/span> limited partnership associated with CanAm Enterprises, LLC, is delivered.<\/p>\n<p><abbr title=\"University of Hawaii\">UH<\/abbr> West <span aria-label=\"Oahu\">O&#699;ahu<\/span> had a construction budget of approximately $173 million. The financing package assembled to build the new Kapolei campus totaled $177 million and included:<\/p>\n<ul>\n<li>General Obligation Bonds: $91 million<\/li>\n<li>Revenue Bonds: $68 million<\/li>\n<li>Loan provided by the CanAm Group: $18 million<\/li>\n<\/ul>\n<p>The CanAm loan funds are currently in escrow awaiting final approval by the federal government, and were expected to be released this summer. The new projected release date is October 2012.<\/p>\n<p>The internal advance for a term of up to six months will come from within the University Bond System, which is cash in excess of immediate requirements that would normally be invested in bank certificates of deposit or other investments.<\/p>\n<p><abbr title=\"University of Hawaii\">UH<\/abbr> West <span aria-label=\"Oahu\">O&#699;ahu<\/span> will pay interest on the $15 million at the same rate as the average rate of earnings in the Bond System&#8217;s equivalent maturing investments. The interest will be due at the time of the repayment of the advance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Board of Regents approved a short term cash advance to <abbr>UH<\/abbr> West <span aria-label=\"Oahu\">O&#699;ahu<\/span> as a bridge until its final package of financing for construction of the new Kapolei campus is delivered.<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1193,28],"tags":[72,59],"class_list":["post-9533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-administrative","category-governance","tag-board-of-regents","tag-uh-west-oahu","entry","has-media"],"aioseo_notices":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/posts\/9533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/comments?post=9533"}],"version-history":[{"count":12,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/posts\/9533\/revisions"}],"predecessor-version":[{"id":136612,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/posts\/9533\/revisions\/136612"}],"wp:attachment":[{"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/media?parent=9533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/categories?post=9533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/tags?post=9533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}