06/06/2017
Preliminary work on SUNY Cortland’s planned renovation to Smith Tower got a boost last month through $1.4 million in low-interest borrowing made available to the College by the Dormitory Authority of the State of New York.
Approximately $600,000 of the financing will be applied to the initial stages of the $12 million renovation of the 10-story residence hall, which was built in 1972.
The remainder represents the final financing segment for the already-completed renovation of DeGroat Hall. DeGroat, built in 1952, reopened for students last fall after an $8 million renovation, its first major overhaul in 65 years.
"We are extremely grateful for the assistance DASNY provides for these and many other SUNY Cortland projects,” President Erik J. Bitterbaum said. “Their support has helped us transform the campus visually and enhance the safety and high quality of life enjoyed by SUNY Cortland students."
SUNY Cortland’s $1.4 million in financing was part of $150 million in tax-exempt, low-interest bonds issued by the authority to support residence hall projects at SUNY campuses across New York. It represents the bulk of a total of $2 million issued for projects in Central New York.
The remaining $600,000 will pay for a master planning initiative at SUNY Morrisville and parking facility enhancements at SUNY Upstate Medical University.