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| The Michigan
Higher Education Facilities Authority was
created under Act
233 of 1964 and Act
295 of 1969 to issue bonds in order to make loans to
private non-profit colleges and universities for various capital
needs including: construction of new facilities, renovation of
existing facilities, and equipment purchases. |
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| Authority
Mission
Statement |
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The Michigan Higher Education Facilities
Authority (MHEFA) exists to lower the cost of non-profit higher
education by providing Michigan's private, non-profit educational
institutions access to tax-exempt capital.
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| Eligible
Projects |
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Includes the following facilities:
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| · Housing |
· Laboratories |
| · Dining |
· Classrooms |
| · Student Unions |
· Athletic Centers |
| · Libraries |
· Parking |
Also
Includes, Faculty and Administrative Offices, Research, Health Care,
Maintenance, Storage and Utilities
Excludes
facilities for the following:
· Sectarian
Instruction
· Religious
Worship
· Divinity/Religious
Denomination Programs
Also
excludes, books, fuel, supplies, or other items normally
considered as a current operating expense or working capital
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| MHEFA Board Meetings |
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Next Meeting:
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April 23, 2008
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3:00 p.m.
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Full Schedule
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Location:
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State Treasurers' Board Room
Austin Building, 1st Floor
430 W. Allegan
Lansing, Michigan
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Driving
Directions
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| MHEFA Members |
Chair:
James W. Woolfolk Jr. |
Plant
Manager
Delphi Saginaw |
Vice Chair:
William J. Cochran |
Retired
Business and Finance |
Members:
Harold
Gardner |
Senior
VP & Assistant to the Chair
DTE Energy Corporation |
| James
N. Goenner |
Director
Charter Schools Office
Central Michigan University |
| Patrick
W. La Pine |
Michigan Credit Union League
Executive Vice President of Association Services |
| Daniel J. Limer |
Bradford Mortgage Corporation |
| Glenda
D. Price |
Retired President
Marygrove College |
| Amy D.
Seetoo |
President
Amy Seetoo Properties, LLC |
| Larry
L. Whitworth |
President
Washtenaw Community College |
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MHEFA Financing
Program
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The Authority's financing capability
includes the following projects: new, remodeled, or renovated
college buildings, land acquisition, and capital equipment and
machinery. This financing can provide up to 100% of the cost of the
project, including the construction and architectural costs,
financing and legal fees, bond issue expenses, Authority fees, and
any surveys or studies performed.
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Michigan
Higher Education Facilities Authority
Location: Austin
Building, 1st Floor
(Formerly Treasury Building)
430 W. Allegan
Lansing, MI 48922
Mail: P.O. Box 15128
Lansing, MI 48901
Phone: (517) 335-0994 Fax: (517) 241-9509
www.michigan.gov/mhefa |
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