Committee declines University of South Carolina McKissick Building bond request for phase 2 funding

The Joint Bond Review Committee reviewed the University of South Carolina’s request to change the source of funds and establish Phase 2 for the McKissick Building at $55 million, proposing issuance of general obligation state institution bonds not to exceed $58 million and a 20‑year term.

Staff explained the project would renovate and reconfigure interior spaces to create classrooms, offices, study areas and modernize the visitor center for a building constructed in 1940, noting mechanical, electrical and plumbing upgrades. The university indicated the bonds would be additionally secured by designated tuition fee revenues and stated that no increases in student fees or tuition were needed to support the project.

Supporting documentation presented projected maximum annual debt service of $14,300,000 or 38% of tuition fees designated for debt service compliance with the constitutional annual debt service limit. Committee members asked questions and, following discussion, the committee recorded the university’s request as not approved during the meeting.

The transcript does not record a detailed roll‑call vote or a motion text in the provided segments; the committee’s action is summarized in the official record as not approved at this session.