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Finance panel eyes $38.5 million bond issue to finance projects at Delaware State University

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NEW CASTLE, Delaware — A state panel is meeting to consider a request by Delaware State University for a bond issue of up to $38.5 million for campus improvements.

The Council on Development Finance was to consider the request at a meeting Monday in New Castle.

Proceeds from the revenue bonds would be used to make a loan to DSU to fund the construction, equipping and furnishing of an Optical Science Center for Applied Research.

The money also could be used for the purchase of the University Courtyard, a 416-bed student housing facility located on campus, and the acquisition and capital improvement of the former Sheraton Hotel and Convention Center, which is now a 264-bed student housing facility.

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