Northern New Mexico College budget woes may shake up proposed new dorms - Associated Press

Northern New Mexico College's plan to construct its first on-campus dorms has hit a wall. Gov. Susana Martinez and the state Board of Finance have declined to grant the college's proposal for financing the buildings because of the school's own financial troubles, the Albuquerque Journal reported (http://bit.ly/1tdwo2i) Friday. The school had requested approval for revenue bonds that would have generated as much as $13 million for the project. Martinez said at a board meeting earlier this month that officials were hesitant to sign off on the project. "I think we need more time in viewing the stability of the institution before there's continued investment," Martinez said during the July 15 meeting. ""I'd rather do the more responsible thing, rather than dig ourselves deeper." The college last spring cut several faculty positions, child care and three degree programs to close a $250,000 budget gap. http://www.greenfieldreporter.com/view/story/831bafda5c2e4031851de8134faa525f/NM--College-Dorm-Plans