Gov. Roy Cooper signed into law Wednesday a bipartisan House bill that allows Appalachian State University to issue bonds for up to $20 million for a parking deck.
The N.C. Senate approved House Bill 1068 by a 45-0 vote on the third and final reading June 22.
HB1068, with Rep. Jon Hardister, R-Guilford, among the lead sponsors, cleared the House by 94-1 vote on June 9.
The funding would be for building a parking deck next to Holmes Convocation Center, where the university’s basketball teams play.
The bill specifically authorizes Appalachian State to issue debt for a non-appropriated, self-liquidating capital project financed by the institution, rather than by money from the state.
In this instance, ASU plans to issue $20 million in special obligation bonds, to be repaid from parking receipts.
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The project includes the construction of a 600-space, five- to six-level parking deck to support the Holmes Convocation Center, as well as the 30,000-seat Kidd Brewer multipurpose stadium that is about a half-mile away.
“The primary use for these spaces would be for faculty, staff and student parking, with event parking as needed,” ASU said.
“The university has the flexibility to offer visitor parking in select lots as needed upon demand.”
The center has access currently to a 110-space surface parking lot. Additional campus parking is often utilized for large events at the center, including the Rivers Street parking deck.
The university plans to proceed with construction with a target completion date of fall 2024.
