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Showing posts with label University of Hawaii. Show all posts
Showing posts with label University of Hawaii. Show all posts

Friday, January 16, 2015

University of Hawaii's Cancer Center Will Run Out of Funding in Two Years

The Cancer Center, a research unit of the University of Hawaii at Manoa, will run out of funding in just two years, leaving lawmakers furious at the lack of oversight by the University.  Last year, the Cancer Center ended the year with nearly a $10 million budget deficit and was required to tap into its financial reserves in order to stay afloat.  David Lassner, the university president, admitted to the state House Finance and Senate Ways and Means committees that the university isn't sure what will happen if the reserves are depleted.  Lassner stated, "It is not clear — without support from some source, that Hawaii can maintain a (National Cancer Institute-designated) cancer center."

With declining cigarette tax revenues that pay for cancer research, and the fact that the center's Kakaako facility costs $8 million a year in mortgage payments, has left the Cancer Center in huge financial problems.  Senator Jill Tokuda, the Ways and Means chairwoman, commented, "I think we're in a very serious situation, probably more serious than you realize. Yes, we have a very significant obligation to the health and wellness of the people of the state. But we have a fiduciary responsibility to the state as well. The Legislature is going to want to make sure that we see some sort of very solid and detailed business plan."

Source: Honolulu Star Advertiser, 1-16-2015, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Tuesday, November 11, 2014

UH Athletic Program to Finis Year With $3.5 Million Deficit

The University of Hawaii Athletics program has announced that they will finish the fiscal year with a $3.5 million deficit, over double than their previous estimate of $1.5 million that the gave the Board of Regents in August. Ben Jay, the Athletic Director, stated, "As we've gotten five months into the year and going into the sixth month, our financial condition has worsened, for several reasons. Obviously, the football season has been disappointing. We're currently at 2-8, but the fan ticket-purchasing has fallen off, and not unexpectedly, our revenues have suffered for it."  Donations to the athletics program are also expected to be down by $700,000.

One of the big decisions that Ben Jay will have to make will be what to do with head football coach Norm Chow. Many fans are demanding for a new head coach, but Chow has two years remaining on his contract and the athletic department needs to decide if they can afford to buy him out.  Jay commented, "In terms of coach Chow and the football program, we're going to sit down at the end of the season to discuss how the year went, and I'm not making any decisions or judgments right now until the season plays itself out."

Source: Honolulu Star Advertiser, 11-11-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Wednesday, October 8, 2014

University of Hawaii at Manoa Facing Budget Deficit For Current Fiscal Year

According to University of Hawaii at Manoa officials, the states' flagship campus is facing an estimated $31 million deficit for the current 2015 fiscal year.  Overspending began in 2012 when the campus had a $2.6 million deficit.  This increased to $17 million in 2013 and $26 million in 2014, but these three years of deficits were covered by university reserves.

Robert Bley-Vroman, the Interim Chancellor at Manoa, stated, "Our goal is to fly level for this year, and during this year try to reconnoiter and figure out where we're going to go in the future. The university as a whole needs to fly level. I think we can do it. I think it will be tough, and we may see our bank balance decline even more for a while, but we can do it. I know that each individual dean is going to have (to) work on what is best for the dean's college. There are going to have to be some ways of tightening belts. I think we'll see different approaches. We'll probably see less new faculty hiring in the future, again, that will differ unit by unit, but I know that's one thing we're considering."

Source: Honolulu Star Advertiser, 10-8-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
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Monday, September 8, 2014

University of Hawaii May Lease Land Surrounding Its West Oahu Campus

The University of Hawaii has stated that they are considering a plan to lease land around their West Oahu campus to commercial developers.  The university currently controls several hundred acres of undeveloped land in Kapolei, but have recently been under attack by state legislators who accuse the school of allowing the land to sit idle.  Some lawmakers have even proposed taking the land back for state use unless the University of Hawaii has a plan in place.

The Board of Regents and school administrators are currently working with a consultant to draft a plan for its two vacant Kapolei parcels.  The first consists of 500 acres of land makai (towards the ocean) of the H-1 Freeway. The second parcel consists of 991 acres of undeveloped agricultural land makau (towards the mountains) of the freeway. University of Hawaii President, David Lassner, stated, "The purpose of this activity was really to identify which parcels would get generally used for what uses, coming up with the broad vision for the two parcels, and in particular the makai parcel. At this point we're not really looking at selling. We don't think we need to sell land to realize the commercial value, but we're very interested in using the land to address our financial challenges."

The University of Hawaii's West Oahu campus currently takes up 80 acres of the the 500 acre makai parcel. Lassner has stated that the school would like to hold onto about 300 acres of that land to allow the campus to expand. However, that will allow for over 150 acres to be redeveloped with commercial properties.  Lassner commented, "We probably wouldn't do big-box retail, but more specialty, mom-and-pop stores, high-density housing, rental apartments, entertainment, restaurants. With the university there, two (rail) stations, Ho‘o­pili (a 12,000-residence master-planned community) nearby, that will probably inspire some good ideas about what else the area could use."

Source: Honolulu Star Advertiser, 9-8-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Friday, June 27, 2014

The Future of Aloha Stadium

The Aloha Stadium Authority has announced that they are considering several options regarding the 39 year-old facility.  One option would be to renovate the existing stadium, but the Department of Accounting and General Services estimates that they would need to spend approximately $120 million for high priority health and safety improvements to keep the stadium operation for the next 5 to 10 years.  The second option would be to build a new smaller stadium with between 30,000 and 40,000 seats, which would include premium seating options and other modern amenities.  This would cost between $132 million to $192 million, but could save the state $2.4 million to $3.2 million a year in operating costs.  The Aloha Stadium Authority will be hosting a couple of town hall style meetings to solicit the public's suggestions and opinions.

Source: Honolulu Star Advertiser, 6-27-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
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Sunday, May 18, 2014

Architecture Graduate Students Present Proposals for Ward Village

Dr. Amy Christie Anderson, an associate professor at the University of Hawaii School of Architecture, came up with an interesting project for some of her graduate school students: come up with their own, original and innovative designs for a residential tower that would be built at the Ward Village in Kakaako. The assignment was a great success, and Nick Vanderboom, the senior vice president of development for the Howard Hughes Corp, which owns the 60-acre Ward Village, stated that it might be a great opportunity to interact with students and the university.

The graduate students, who are in their fifth year of a seven year doctorate program, worked all semester on their proposals and were given feedback from local architects. Upon completion of their assignment, the students presented scale models and rendering to several Howard Hughes Corp executives who gave the students constructive criticism and praise for their designs. It is not clear if Hughes Corp will use any of the designs or design elements for their next tower(s), but the interaction and collaboration seemed to be a very positive experience for all who participated.

Source: Honolulu Star Advertiser, 5-18-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Saturday, May 17, 2014

Addressing the Deferred Maintenance Problem at the University of Hawaii System

The University of Hawaii is facing a significant problem with deferred maintenance issues across their 10-campus system.  According to UH officials, the problems would cost approximately $487 million to fix, with the vast majority of that amount, a total of $407 million, needed for the main Manoa campus.  The school is requesting that state lawmakers give them the authority to issue revenue bonds to fund the maintenance projects, and stated that the debt for these bonds would be repaid over the next 30 years by increasing tuition costs. Howard Toto, the UH Chief Financial Officer, stated, "We have, really, a situation where we need to think hard about how we want to proceed going forward. It's something we can't ignore, but we're somewhat inhibited by funding because we can't do a whole lot without the funds."

However, many lawmakers are not comfortable with the concept of increasing the financial burden of future students by dramatically increasing their tuition.  Issac Choy, a state representative and the chairman of the House Higher Education Committee, stated, "Let's just call a spade a spade: Revenue bonds mean tuition. The kids are the ones who were going to have to repay this."  The state was willing to give the University of Hawaii $50 million in state-backed general obligation bonds for next year for systemwide capital revenue and deferred maintenance needs.

Source: Honolulu Star Advertiser, 5-17-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Thursday, May 8, 2014

More Public High School Graduates Enter College, But Many Are Still Not Prepared

According to a recent study conducted by the Department of Education, nearly 54 percent of the students who graduate from public high schools enrolled in a two-year or four-year college the following fall, which is an increase from the 50 percent posted in 2010.  However, this number is still significantly lower than the national average of 62 percent and the state's goal of 71 percent by 2018.  The only two public high schools that have already reached the state's goal are Kalani High School (78 percent) and Mililani High School (71 percent).  Roosevelt High came very close at 70 percent.

Of those students who entered the University of Hawaii system (either a community college or a four year school), approximately a third of them had to take remedial courses. Thirty-two percent had to take a remedial math course, while 31 percent had to take a remedial English course. Department of Education Deputy Superintendent Ronn Nozoe praised these numbers, since they were down from a few years ago.  Nozoe stated, "The college-going rate is stable, which is good, but the real story within this is the reduction in the percent of kids who need to take remedial courses when they go to the university. It's one thing to send a certain number of kids there, but then find out that they have to take remedial courses because they can't take college-level courses. It tells us that we're sending more kids prepared for college to college."

Critics of the Department of Education, believe that if a third of public school graduates who enter the University of Hawaii system are unable to take even basic math and English classes, something is still fundamentally flawed.

Source: Honolulu Star Advertiser, 5-8-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Thursday, March 6, 2014

UH Manoa's Athletic Complex Has New Price Tag of $16.7 Million

The Clarence T.C. Ching Athletic Complex at the University of Hawaii's Manoa Campus will now cost $16.7 million, approximately $3 million more that the school's last estimate. According to Glenn Shizumura, the director of the University's Office of Internal Audit, the increase was due to a number of things, including design changes, change orders, weather, redeployment of workers to head off the threat of NCAA sanctions, and discovery of asbestos.  University of Hawaii regent Barry Mizuno lamented that the project was originally supposed to cost $10 million.  Mizuno stated, "From $10 million to $13 million and then to $16 million, that's terrible, terrible."

The Ching Complex will be home to the school's women's track and field, cross country, soccer and sand volleyball teams.  There will also be a practice field for football as well as intramural and community events.

Source: Honolulu Star Advertiser, 3-6-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Wednesday, February 19, 2014

UH Athletic Department Asked to Trim Expenses

The University of Hawaii Manoa's athletic director, Ben Jay, has asked all of his staff members and coaches to cut between five percent and ten percent of their expenditures for the remainder of the fiscal year in an effort to reduce expense.  Last summer, the athletic department was ordered by the UH Manoa Chancellor Tom Apple to reduce their annual operating deficit to no more than $1 million per year for the next three years and have no deficit thereafter.  However, Jay reported to the UH Board of Regents earlier this month that this year's fiscal deficit would be approximately $2 million.  Jay is asking everyone to work together and reduce that difference and added that several coaches who are being recommended for pay raises would not see any increase in the current fiscal year.

Source: Honolulu Star Advertiser, 2-19-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Saturday, February 8, 2014

University of Hawaii at Manoa Maintenance Issues Become More Pronounced

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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Monday, January 27, 2014

University of Hawaii Athletic Director Discusses Future of Program

Ben Jay, the University of Hawaii's athletic director has high hopes for all of his sports teams, and would love to see the school become one of the "Higher Resource Group", or a "have" in the widely divided haves/have nots in college athletics.  Jay, who is in his second year as athletic director, fully admits that UH Manoa is lacking in resources and facilities compared to the countries elite athletic programs, and is turning the community, businesses and to the state for funds.  Jay stated, "In football, we are not just recruiting against the Mountain West schools, we are competing against the West Coast schools, even for the top players in Hawaii," he said. "We need to update our facilities, renovate what we have in order to be competitive in the recruiting game.

One of his Jay's short term top projects is to create a dining room in the athletic complex for all student athletes. Jay mentioned, "I hosted our 4.0 (GPA) student-athletes at a dinner and, to a person, their big issue was no place to eat (in the athletic complex).  They spend a lot of time down there with practice, at the academic center, in the training room, and there is no place for them to swipe their meal card and get a nutritious meal. When the student workout center moves to the new Campus Center, I can see turning that space into the student-athlete dining room."

As for long term projects, Jay added, "We have to start talking about a new (football) facility. We're not going to solve the issue with Aloha Stadium. (Manager) Scott Chan does a helluva job when operating within the system that was created, but he has to make money off the swap meet and off our (football program) assets to make his budget at a state-run facility.  It's going to take a huge effort by all those who love University of Hawaii athletics, and I mean everyone, fans, businesses, the legislature and the university. We need everyone to pitch in if we do want to not just get to the next level but to stay competitive when we do."


Source: Honolulu Star Advertiser, 1-27-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Thursday, January 16, 2014

University of Hawaii Requesting $33.5 Million from State to Replenish Tuition Revenues

The University of Hawaii is requesting from the state of Hawaii a total of $33.5 million to help replenish tuition revenues that was spent to cover salary restorations and increases that were made in the latest faculty contract that was ratified in 2010.  If the state is willing to grant them this money, the university added that they would use $14 million of that money to debt service $212 million in revenue bonds to start to tackle the $487 million of repairs needed for deferred maintenance projects around their various campuses.  University officials have proposed that if the state could provide them with a large enough bond, they would be able to eliminate the $487 million of repairs over the next six years and would repay back the money over the next 30 years through tuition increases.  David Lassner, the Interim President, stated, "Our approach this year is to say, ‘Let's try something different. Let's come in and ask to see if the Legislature and the (Abercrombie) administration will support us taking responsibility for this backlog."

Not all of the lawmakers agree with the University of Hawaii's strategy.  Representative Scott Nishimoto, who is the vice chairman of the House Finance committee, commented that over the past five years the school has doubled its tuition scholarships amount to $40 million instead of using some or all of that money towards obtaining construction bonds.  Nishimoto stated "Part of my concern is that you've doubled the amount of tuition you guys are giving away, but you're also coming to us for more money. At what point do you cut that off or kind of taper that off?"

Lassner to responded to Nishimoto that the University of Hawaii has been increasing their tuition rates, but still need to make sure that needy students can afford tuition.  Lassner stated, "Everything can be a trade-off, and reducing financial aid for needy students, or any number of things, certainly could produce revenue."  Under the current plan, tuition will increase by a total of 35 percent over the next 5 years.

Source: Honolulu Star Advertiser, 1-16-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Saturday, January 11, 2014

Renovations at UH Manoa Will Mean Some Off-Campus Classes

The University of Hawaii at Manoa campus is plagued with over $400 million worth of deferred maintenance projects.  According to school officials, over 80 percent of the buildings on campus are in need of some type of repair or renovation.  This means that some classes are going to be forced to move off campus while construction is being completed.

According to Stephen Meder, the assistant vice chancellor for physical, environmental, and long-range planning, the school is currently at 99 percent occupancy, and as a result, other buildings off campus and not directly affiliated with the university will need to be used.  Meder stated, "We're looking at the protocol to addressing the deferred maintenance with modernization of the buildings to be able to bring the campus into the 21st century and support the missions of this campus.  I really think this is a turning point. We are on the threshold of change."

Tom Apple, the Chancellor at Manoa, stated that the school may offer more evening and online classes to help alleviate the fact that there will be less available space during construction.  The school is requesting that state lawmakers help provide revenue bonds for the renovation projects, which would take approximately six years to complete.  The University of Hawaii is proposing that they would repay that debt over the next thirty years through revenue raised by tuition increases.


Source: Honolulu Star Advertiser, 1-11-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Wednesday, January 8, 2014

University of Hawaii Athletic Department Could Get Additional Money From State

State Representative K. Mark Takai is proposing a new bill which would provide the University of Hawaii's athletic department up to $10 million to help improve its facilities and programs. Under the proposal, the state would provide $2 for every $1 of new money raised by the athletic department.  Takai reiterated, "If they raise $3 million in new money, then they get $6 million for a total of $9 million. Just giving them the money outright with no ability to leverage the dollars is, I think, short-sighted. What I want is a sustainable future for UH."  The bill is still in its first stages and would have to gain support in the state congress and senate.

Source: Honolulu Star Advertiser, 1-8-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
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Thursday, December 19, 2013

University of Hawaii Athletic Department Considering Reducing Number of Available Football Seats

Ben Jay, the athletic director at the University of Hawaii, is strongly considering reducing the seating capacity at Aloha Stadium from 50,000 to 35,000 by closing off several upper level sections.  Jay pointed out that in 2013, the Rainbow Warrior football team had an average attendance of 26,637 people, and the program has not had more than 35,000 fan come to any of their past 18 home games over the last three season.  By closing the upper levels, it would save the school money on clean up costs, provide more of a home-field advantage and look better on television.  Jay stated, "I think there is at least a 50/50 chance, if not more really, (of closing down upper sections), depending on the numbers we get back from the stadium and our people. We want to find ways to give our season-ticket holders more value for their purchase. If there is one thing I've heard loud and wide this past season, it is that we need to give greater value to our loyal season-ticket holders. First and foremost, we have to show them the love for all the loyalty they've shown the program. There are people who have been buying season tickets for 20, 30, 40 years and we've gotta reward their loyalty. We live and die on football and we have to find ways to shore up football and enhance the revenue for the sake of all of our sports. As I told our staff, we have to rethink this whole thing, starting with football."

Source: Honolulu Star Advertiser, 12-19-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
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Wednesday, November 27, 2013

University of Hawaii at Manoa's Athletic Department Given Ultimatum to Balance Budget

The University of Hawaii have given their athletic department an ultimatum that they have to balance their books within three years or the University may be forced to take drastic action including possibly cutting teams to reduce spending expenses.  Furthermore, over the next three years the department is only allowed to have a maximum debt ceiling of $1 million per fiscal year, meaning that the department needs to find immediate ways to reduce their deficit. Benjamin Kudo, the committee chairman for the Board of Regents Committee on Intercollegiate Athletics stated that the possibility of cutting one of the athletic teams "would be a last resort for us. Unfortunately, we're prepared to do it, if that's what's called for, because our primary purpose is to educate students."

Source: Honolulu Star Advertiser, 11-27-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
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Tuesday, November 26, 2013

University of Hawaii to Halt All New Building Projects for Three Year

The University of Hawaii's Board of Regents have announced that they will be putting a moratorium, or freeze, on new building projects for the next three years in an effort to combat existing repair and maintenance issues facing their 10 campuses.  A previous report stated that the University of Hawaii system has approximately $487 million of deferred maintenance projects to address including approximately $407 million in projects on the main Manoa campus.  Regent Benjamin Kudo, stated, "My concern was if we spent too much of our efforts to approve new projects, that it would somehow affect our ability to take care of the back of the house. We've neglected too long to take care of our physical plant."

David Lassner, the interim President of the University of Hawaii, stated, "Our facilities have degraded over many years of underinvestment. The Board of Regents and administration are committed to repairing and modernizing our facilities to support 21st-century learning and scholarship to benefit our students, faculty and the communities we serve. We hope to gain the support of the executive and legislative branches for this effort, as the University of Hawaii belongs to all of us."

However, the Board of Regents have put in the fine print 13 total new projects that would be exempt from this building moratorium.  These project would cost a total of $170 million to complete and have raised some eyebrows with various members of the state government.  Issac Choy, a state representative an chairman of the House Committee on High Education, commented, "Any projects that are not started yet should not be exempt until UH finishes all of their repair and maintenance, or else the moratorium is not meaningful."

Source: Honolulu Star Advertiser, 11-26-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Sunday, November 17, 2013

University of Hawaii at Manoa Needs $407 Million for Deferred Maintenance

According to University of Hawaii officials, the main Manoa campus will need approximately $407 million to fix a wide variety of deferred maintenance issues in 209 of their buildings.  This amount does not even reflect any costs to modernize its facilities, but rather would go towards electrical and plumbing work, painting and roof repairs to bring the 101-year-old campus up to standards.  Interim UH President, David Lassner, stated, "Investment was not made in keeping up with capital renewal, so as stuff that should have been fixed or replaced wasn't, it built up in a very large backlog.  Some of these projects stretch back to the '90s."

The University of Hawaii had requested from the state's legislature for $76.8 million in general obligation bonds for health and safety repairs and $282 million for capital renewal and to fix deferred maintenance issues across their 10 campuses.  This amount would have been issued over the next two fiscal years.  However, the state legislature only approved $57 million for health and safety improvements and $50 million for deferred maintenance over the next two fiscal years. University of Hawaii officials would like the state to issue an additional $440 million in revenue bonds over the next six years to make the needed repairs.  The school would pay the state back approximately $28 million per year in annual debt payments.  To make these debt payments, the university plans to increase tuition revenue.

Source: Honolulu Star Advertiser, 11-17-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Thursday, November 7, 2013

University of Hawaii Audits Athletic Complex Project

The Clarence T. C. Ching Athletic Complex at the University of Hawaii is home to the school's football, track, soccer and sand volleyball teams.  In 2008 a total of $13.39 million was raised to completely renovate the facility and the work was scheduled to be completed in 2011. However, after several delays, the complex is still under construction, leaving the University of Hawaii's Board of Regents little choice but to call for an audit of the project.  To make matters worse, the National College Athletics Association (NCAA) may file sanctions against the school if the facilities are not completed soon.  This could mean that University of Hawaii teams would be barred from any NCAA tournaments.  The most recent goal set forward by the athletic department would be to have the construction work completed by February 2014.

Source: Honolulu Star Advertiser, 11-7-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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