JEDA Bonds Help Anderson University Expand, Pay Off Older Debt

Anderson, SC — Anderson County

Anderson University is using $32.2 million in tax-exempt revenue bonds from the South Carolina Jobs-Economic Development Authority (JEDA) to finance new facilities and re-finance older debt at favorable new terms.

The financed projects include an athletics campus, nursing school, residence hall and student center.

Individual JEDA bond issues

  • A $12.6 million Series 2014 educational facilities refunding revenue issue used to refinance prior loans, including a 2004 bond issue, that financed land for an athletics campus and provided funds for a nursing school and residence hall.
  • A $7.8 million Series 2014 educational facilities revenue bond issue to pay for a new residence hall and academic venues to accommodate growth at the school.
  • An $11.8 million Series 2015 revenue bond for a new student center.

Anderson University had 2,507 students enrolled during the fall 2014 semester, an increase of 227 students over the previous year’s enrollment.

Anderson University currently employs 611 people. The bond issue is expected to create three new jobs within 12 months of completion of the project.

“We’re pleased to be able to refinance our previous bonds, which allowed us to serve our student body’s needs then, as well as to be able to continue to develop our campus and facilities with new bond issues as we continue to grow,” said Evans P. Whitaker, Ph.D., President of Anderson University.

“We know what an impact increasing student enrollment has had for Anderson University and for the City of Anderson, as well, and we feel privileged to be able to play a role in facilitating the enrollment growth at this highly regarded institution,” said Bond Counsel Kathy McKinney with Haynsworth Sinkler Boyd, P.A., in Greenville.

“Our work with Anderson University goes back many years, and we are pleased to be able to continue to work with them to refinance loans and issue new bonds to help this outstanding institution continue to grow,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.