Latest news with #AndreaSmiley
Yahoo
14-04-2025
- Business
- Yahoo
Is the University of Phoenix deal finished? A deadline looms, with no visible signs of progress
A sign marks the location of the University of Phoenix Chicago Campus on July 30, 2015, in Schaumburg, Illinois. () This story was originally posted on on April 14, 2025. Time is fast running out. And there are no visible signs of progress. But University of Idaho and University of Phoenix officials insist they haven't given up on the idea of a partnership. 'We continue to be excited about the proposed affiliation with the University of Idaho and the opportunity to support important educational and workforce needs in the state of Idaho,' University of Phoenix spokeswoman Andrea Smiley said in an email to Idaho Education News last week. 'The two universities will continue to collaborate to find solutions.' 'We continue to see incredible value in University of Phoenix,' U of I spokeswoman Jodi Walker told EdNews in an email. 'However, next steps are in the hands of Phoenix and its ownership team.' But the State Board of Education has the U of I on a deadline to close a deal with Phoenix, a for-profit online university serving some 85,000 students. That deadline, June 10, is quickly approaching. And what's more, the State Board agreed to an extension in order to give the two universities time to win over skeptical legislators. And that hasn't happened — at least not publicly. The 2025 legislative session came and went without a Phoenix bill, a committee hearing, or any kind of vote. That silence stood in a stark contrast to the 2024 session. The Legislature stymied the $685 million Phoenix deal — with the Idaho Senate killing a bill that would have restructured the purchase — after lawmakers complained that they had been left in the dark by the parties' closed-door negotiations. In short, U of I and Phoenix officials now have less than two months to settle on a deal to meet the State Board's deadline. And with the Legislature adjourned until January, it isn't clear how lawmakers would have a chance to weigh in on a revamped deal — unless they returned to Boise for a special session. In the meantime, as the U of I suggests, the next move belongs to Phoenix. The State Board's extension also gave Phoenix the latitude to talk to other would-be buyers. Phoenix is continuing to explore 'other transaction opportunities,' Smiley said. One option could involve going public. As Bloomberg reported in March, Phoenix's ownership groups are considering an initial public offering, perhaps as early as the third quarter of 2025. And what about the State Board — which has the U of I on the clock? The State Board did not respond to a request for comment. The board meets Wednesday and Thursday at the U of I. And while U of I President C. Scott Green is expected to address the board and deliver the university's annual report, the board has no Phoenix-related item on its agenda. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
31-03-2025
- Business
- Yahoo
New building tariffs could make it harder to buy a home in WA
This story was originally published on New electrical service could hike up costs for homeowners in Washington. According to a press release from the Building Industry Association of Washington (BIAW), Puget Sound Energy (PSE) is proposing 30% and 40% tariff increases for line extensions. This would include charges to new service lines and extensions, as well as extensions to plats. BIAW argued that these tariffs are too high and could impact the future of home building. 'These increases will be catastrophic to the home building industry in Washington state,' BIAW Legislative Director Andrea Smiley said. 'Already 80% of households in Washington can't afford a median-priced home. Every added cost prices more households out of homeownership.' BIAW noted that one of the best ways to build homes in Washington is directly on undeveloped plats. With PSE's proposal, this could mean that the new cost development would be $82.69, according to the BIAW. 'Washington residential home builders struggle to keep up with the demand for new and affordable housing in Washington,' Smiley said. 'Ever-rising costs of materials, permits, impact fees, and other regulatory costs only make it worse.' A report by the Washington Department of Commerce stated that Washington needs to build 1.1 million homes over the next 20 years in order to keep up with housing needs projections. In 2021, the Growth Management Act (GMA) found that in order to prioritize affordability, housing and utilities 'should cost no more than 30% of household income.' Yet, recent federal data finds that most Washington residents are currently paying more than that. 'Builders in PSE's service area cannot bear the cost of this nearly 40% increase,' Smiley said. 'Because they have to show a level of profit to qualify for financing to build new homes, they will be forced to pass this cost on home buyers, making new homes even less affordable.' PSE's request is currently being reviewed by the Washington Utilities and Transportation Commission (UTC). BIAW is urging the UTC to 'consider the harm a 30% to 40% tariff increase for PSE-exclusive services will cause homeowners, home builders, and the public.' Those who want to submit public comments on the matter can do so by visiting this form.
