Funding Facilities and Facilities Improvements in the Current Market
In recent years, more institutions have looked for innovative, outside-the-box methods of funding their investments in the physical campus — including an array of models for public-private partnerships, mixed-use facilities, and (in a few cases) fundraising for renewal and maintenance. We asked Steven Parfeniuk, vice president of finance and administration at the Sheridan Institute of Technology and Advanced Learning, to offer his insights on public/private partnerships and what institutional leaders need to rethink in order to achieve their capital planning goals. We also invited Kambiz Khalili, assistant vice chancellor for student affairs and executive director of housing and dining services for the University of Colorado at Boulder, to share his lessons learned from CU-Boulder’s innovative approach to leveraging rate increases to avoid the bond market or having to rely entirely on private developers. Whether you turn to a public-private partnership or develop an innovative plan to leverage rate increases, the key is intentional and pro-active planning for investment in the physical campus. Public-Private Partnerships We asked Steven Parfeniuk three questions, and the ensuing conversation was illuminating: WHAT DO INSTITUTIONS NEED TO RETHINK BEFORE SEEKING OUT A PUBLIC/PRIVATE PARTNERSHIP? “Let’s start in the right place,” Parfeniuk suggests, “let’s define partnership.” Parfeniuk stresses that […]