ALBUQUERQUE, N.M. (AP) – Northern New Mexico College’s plan to construction its first on-campus dorms has hit a wall.
The Albuquerque Journal reported Friday that Gov. Susana Martinez and the state Board of Finance are declining to act on the college’s proposal for financing the buildings because of the school’s finances.
The school had requested approval for revenue bonds that would have generated as much as $13 million for the project.
Martinez said at a board meeting earlier this month that officials need more confidence in the school’s stability before signing off on the project.
The college last spring cut several faculty positions, child care and three degree programs to close a $250,000 budget gap.
The school had planned to break ground on the dorm project this fall at its Española campus.