If the governor signs it, Florida A&M University will become eligible for the Historically Black College and University (HBCU) Capital Financing Program.
According to the U.S. Department of Education, the program "has provided more than $2-billion to 45 HBCUs to finance or refinance capital projects." It offers the financial support for such projects through loans.
"During the 2018 Legislative Session exactly 3,193 Bills were filed/introduced between the Florida House & Florida Senate," Alexander said in a Facebook message. "Of these 3,193 pieces of legislation, only 60 Bills passed both the House & Senate to be sent to the Governor to become the official law of Florida. One of the 60 Bills passed is a huge win for Florida A&M University! The passage of CS/HB 375 changes current state law which will now authorize Florida A&M University to participate in the HBCU Federal Capital Finance Program. This critical piece of legislation will enable FAMU to have access to major guaranteed funding for new building improvements and new dormitories on campus."
Alexander and Montford filed identical versions of the bill in their respective chambers. The House substituted the Senate version, SB 1712, for its version, CS/HB 375, on March 5th. The bill was later enrolled and presented to governor on that same day.
The FAMU administration and Board of Trustees want to seek a HBCU Capital Financing Program loan to finance a planned 700-bed, on-campus student housing facility.