JEDA Issues $5.2 Million in Bonds for South Carolina State University Real Estate Foundation
Orangeburg, SC — Orangeburg County
The South Carolina Jobs-Economic Development Authority (JEDA) has issued $5,233,000 in tax-exempt bonds for South Carolina State University Real Estate Foundation to refinance an existing loan.
The original loan was used to purchase nine buildings located at 700 University Village Road in Orangeburg. Eight of those buildings are used for student housing while the ninth building is used for office and administrative space.
“The Educational Facilities Revenue Bonds issued through JEDA will help our foundation in its mission to support this historic university in its efforts to continue to build a solid fiscal foundation and critical infrastructure for years to come.”
Howard Jackson, Executive Director of the SC State University Real Estate Foundation
The SC State University Real Estate Foundation acquires, constructs, improves, and manages housing facilities for students and faculty of South Carolina State University (SCSU).
“The South Carolina State Real Estate Foundation has aggressively worked to provide housing for SCSU’s growing student population. We’re pleased to play a role in helping the foundation and the storied institution of higher learning it supports meet that challenge,” said Joe Lucas, Bond Counsel with Pope Flynn in Columbia, S.C.
“Refinancing options are a major segment of the larger strategy JEDA offers to assist public and private organizations maintain their fiscal strength. Working with the SC State University Real Estate Foundation on this project is a great example,” said Jesse A. Smith, Executive Director of JEDA in Columbia.
