Governor Mark Dayton announced his 2018 bonding recommendations today, and is proposing a
$1.5 billion bonding package
estimated to create nearly 23,000 jobs. Dayton’s recommendation includes half a billion dollars for higher education, including $274.5 million for Minnesota State. This number consists of
$243.3 million in state funding
and $31.2 million in Minnesota State funding.
Minnesota State’s bonding request totals $224.5 million (further information can be found on the
Minnesota State legislative web site
), but Dayton in his recommendation acknowledges the importance of taking care of the state’s infrastructure, and is recommending the system's entire request plus an additional $50 million in asset preservation (HEAPR).
Chancellor Devinder Malhotra joined Minnesota Management and Budget Commissioner Myron Frans at the press conference this morning, and thanked Governor Dayton on behalf of the Minnesota State Board of Trustees for his strong recommendation for higher education. “Maintaining and modernizing the aging infrastructure at Minnesota State campuses will ensure that each and every student at our colleges and universities stays warm, safe, and dry, and our campuses keep operating efficiently,” Malhotra said.
In addition to the $180 million in asset preservation, the Governor is recommending full funding for all 16 major capital projects on Minnesota State campuses in nearly every region of the state. Chancellor Malhotra said, “These projects are designed to directly benefit students and provide a much-needed expansion of educational and training programs aimed at meeting the talent needs of the workforce.”
In his
letter to the Legislature
, Commissioner Frans wrote, “This budget makes investments across the state to ensure critical state facilities and local infrastructure are well-maintained. It invests in our world-class higher education institutions, takes care of the assets we already have, prioritizes economic development, and provides essential state investment in communities across the state.”
The Governor’s bonding recommendation sets the stage for negotiations with the Legislature. The 2018 legislative session is set to convene February 20.
You may read more from Minnesota State about Governor Dayton’s bonding recommendation here:
press release
.
