Saturday, January 11, 2020

In the News: college closure rules "a watershed moment"; Polar Park construction estimates rise

From the Milford Daily News, articles of interest for Franklin:

"State higher education officials on Friday approved a new set of regulations that will govern how they screen colleges and universities for financial risks and potential closures.

Education Secretary James Peyser said the Board of Higher Education’s vote marked a “watershed moment.”

“On the one hand, it’s an incremental shift,” Peyser said. “On the other hand, it’s really a major change in the nature of our relationship as a board and as a state in terms of our responsibility for ensuring the health of our higher education system writ large, not just the public system.”

The sudden 2018 closure of Mount Ida College in Newton drew new attention to the challenges faced by small, private colleges grappling with enrollment declines and other demographic trends, and sparked calls to protect current and prospective students from being blindsided by a closure."

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In the News: college closure rules "a milestone"
In the News: college closure rules "a milestone"

"Construction costs for Polar Park have increased by $9.5 million over initial estimates, while costs to acquire the properties needed for the ballpark, relocate businesses and prepare the site for development have run roughly $20 million more than what was anticipated.

That has prompted city officials to negotiate changes to the agreements with the ballclub that will be playing at Polar Park starting in 2021 and for the private development that will be built as part of the overall $240 million redevelopment of the Kelley Square/Canal District area.

Those revisions, which are detailed in an 11-page report to the City Council for its meeting Tuesday night, primarily deal with actions to generate more revenue to cover those additional costs.

It also includes a bigger private development program that will be brought online and generate new tax revenues sooner."
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