Future plans to demolish building 300 on the Gainesville North Central Texas College (NCTC) campus were on the agenda at the March 25 board meeting of the NCTC regents.
NCTC regents approved a bid in the amount of $76,604 from Five Star Environmental, Inc., for asbestos abatement of the building which may possibly be demolished as early as this summer.
Most of the offices housed in the 300 Building have been moved to other parts of the campus with only one staff member remaining in the building until the end of this semester.
Following approval of the abatement company, the board then approved funding the abatement project plus $3,400 for contingency purposes and authorized the transfer of $80,000 from the discretionary board reserve funds.
Regents also approved a one-year extension on the depository contract with First State Bank.
Cancellation of the May 11 board election was approved since both candidates in the running for open positions are unopposed. Christy Morris was elected to Place 1 and Matthew Chalmers was elected to Place 2 as declared by the board.
Other action taken involved approving a tax resale deed with a bid in the amount of $500 for .069 acres of land in Young County that was accepted. The city of Graham and the Graham Independent School District in Young County have approved the bid on the property that has been held in trust by the taxing entities.
NCTC Vice-President of Financial Service Dr. Janie Neighbors reported on bond refunding.
Neighbors reported that the average interest rate of 4.27 percent for old bonds was replaced with a 2.25 percent interest rate on new bonds. The interest rate reduction provided a total debt service savings of $166,280 which surpassed the target of $160,366 established in the board’s December meeting.
The office of the Attorney General has issued its approval for a bid accepted from First State Bank for bids solicited by Southwest Securities from financial institutions. The bonds are “callable anytime” and offer additional flexibility.
Regarding personnel, Susan D. Cooper was hired as a dual-credit coordinator, Sabrina L. McKethan was hired as a librarian and Shedrick Pittman-Hassett was hired as Associate Director of Library Services.