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HBCU reaches near $100 million deal with state
HBCU reaches near $100 million deal with state

Miami Herald

time19-06-2025

  • Business
  • Miami Herald

HBCU reaches near $100 million deal with state

Tennessee State University (TSU), a proud public Historically Black College and University (HBCU), has reached an agreement with the State of Tennessee to reallocate $96 million over the next three years for operational support. The funds were originally designated for deferred maintenance but will now strengthen day-to-day university operations. Part of $250 million commitment to the HBCU In April 2022, the State of Tennessee allocated $250 million to TSU for infrastructure and capital projects. So far, $99 million has gone toward deferred maintenance. With this agreement, $96 million will now address operational priorities. The remaining $55 million will fund capital upgrades, including $33 million for campus electrical systems and $22 million for new buildings for Food and Animal & Environmental Science programs in the College of Agriculture. State Officials Endorse the Agreement Tennessee Department of Finance and Administration Commissioner Jim Bryson called the agreement "an opportunity to solve [TSU's] financial challenges and regain its legacy as one of our nation's great, historic institutions of higher education." Comptroller Jason Mumpower added, "Investing in education is investing in Tennessee's future." He emphasized the state's ongoing commitment to TSU and said, "I signed this agreement because I have confidence in TSU's current leadership team and their ability to understand and navigate the institution's challenges." TSU Leadership Focused on Long-Term Impact Interim President Dwayne Tucker described the agreement as a "transformational opportunity." He said it "provides crucial cash flow to ensure the university's financial sustainability" and allows TSU to "invest in enriching the student experience and strengthening our capacity to attract both students and qualified employees." Board of Trustees Chair Dakasha Winton stated, "The support from the State to reallocate these funds underscores our commitment to providing a top-tier education and the necessary resources to cultivate global leaders." HBCU one of many chronically underfunded TSU is Tennessee's only public land-grant HBCU, created under the 1890 Morrill Act to serve Black students. Federal law requires states to match federal funds to HBCUs, but Tennessee has fallen short. A 2007 state study found TSU was underfunded by $544 million between 1957 and 2007. A federal review in 2023 expanded that figure, estimating a $2.1 billion shortfall from 1987 to 2020. While it doesn't address the long-term shortfall, this funding reallocation marks a significant step toward addressing that gap for the HBCU. The post HBCU reaches near $100 million deal with state appeared first on HBCU Gameday. Copyright HBCU Gameday 2012-2025

Postcards mailed to those eligible for TN Hurricane Helene property tax relief
Postcards mailed to those eligible for TN Hurricane Helene property tax relief

Yahoo

time15-02-2025

  • Business
  • Yahoo

Postcards mailed to those eligible for TN Hurricane Helene property tax relief

KINGSPORT, Tenn. (WJHL) — Northeast Tennessee homeowners who experienced property damage from Hurricane Helene should look for a postcard in the mail soon. The cards will go to those eligible for the property tax relief that the General Assembly passed last month providing homeowners whose property was damaged or destroyed with payments worth up to 130% of their total 2024 property tax levy. TDOT awards contracts for Greene, Washington County bridge rebuilds Tennessee Comptroller Jason Mumpower told News Channel 11 that his office put 3,190 postcards in the mail on Thursday. The cards will explain how to apply for the relief. 'You'll be receiving a postcard from me,' Mumpower said. 'Once you get it, there will be a website, you go, you apply for the relief, we'll get you the check right away.' Those who no longer have a mailbox due to the floods should go to their local property assessor's office, Mumpower said. 'We're providing materials to each property assessor that will allow you to apply for this relief that you deserve,' he said. An estimated 3,230 properties across nine Northeast Tennessee were damaged or destroyed according to the comptroller's office. Mumpower spoke with News Channel 11 at the Kingsport Chamber's Regional Legislative Breakfast, which brought lawmakers and elected officials to the MeadowView Marriott Conference Resort & Convention Center. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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