By: WCTV Eyewitness News
September 13, 2018
TALLAHASSEE, Fla. (WCTV) -- On Thursday, Florida A&M University received a favorable by the State University System Board of Governors to allow for the school to construct a new 700-bed residence hall with a dining facility.
The university says the board approved a resolution that outlines how FAMU will finance the project and participate in the U.S. Department of Education's Historically Black College and University Capital Financing Program.
Earlier this year, the state legislature amended legislation that paved the way for FAMU to participate in the federal program for the first time.
"Through the HBCU Capital Finance Program, we now have access to the lowest cost of funds available in the marketplace,” said FAMU President Larry Robinson. “Today's positive Board vote sends a strong message. By the fall of 2020, FAMU will be providing its students with additional 21st-century living and learning spaces that they so richly deserve."
The school says residence halls such as Palmetto North, Truth Hall and Paddyfote will be decommissioned with the opening of the new student housing and dining facility.