Voters approve $22 million Victoria College bond
May 12, 2012 at 12:12 a.m.
Updated May 13, 2012 at 12:13 a.m.
Voters approved giving Victoria College $22 million in bonds to fund an Emerging Technology Center.
With 66 percent of the votes in favor of the bond, the college is primed to begin planning the 80,000-square-foot facility, which college President Tom Butler said should take at least a year and a half to complete.
"We are excited about what the future holds for Victoria College, the local community and the entire region, and we're certain that VC's Emerging Technology Center will play a huge role in meeting the region's workforce needs," Butler said.
The college and business leaders around Victoria have said the Emerging Technology Center meets a growing demand for workforce and continuing education training in the Crossroads.
It's an investment proponents have said will not only attract businesses to the area, but also ensure young people in-demand jobs.
"Such a great day for Victoria," Board of Trustees Chairman Ron Walker said after watching the results come in at the election administration offices.
In anticipation of the Emerging Technology Center, the Victoria City Council already voted to transfer 10 acres to the college from its second business park development project on Lone Tree Road.
The center will face the new Caterpillar plant, but will also be designed with so-called rapid response labs that could be set up and customized to meet the needs of other employers in search of training.
A total of 3,297 people voted in favor of the bond, while 1,691 voted against it.
"We're encouraged about how strong the vote was in favor of the bond," Butler said. "It tells us that we have a lot of work ahead of us."
With the 20-year bond, the owner of a $100,000 home will pay about $30 more per year in property taxes.
Voters approved by a similar margin in May 2006 a $15.5 million bond that built VC's Health Science Center and renovated the Allied Health building. It also has a 20-year term.