A total of eight major building and 13 nonessential buildings lost their power on the University of Hawaii at Manoa campus due to a combination of old electrical equipment and moisture from recent heavy rains. This lead to canceled classes at the school and highlighted the growing deferred maintenance issues that the University is facing. According to school officials, more than 80 percent of the building at UH Manoa have lingering repair and maintenance issues, and it is expected to cost approximately $407 million to fix all of these problems. The university has requested from the state the right to issue tuition-backed revenue bonds to start fixing the backlog of issues before it grows even further out of control. However, lawmakers are wary of giving future students at UH Manoa the problem of paying back these bonds through increased tuition.
Source: Honolulu Star Advertiser, 2-8-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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