SECTOR NEWS
How historically Black colleges and universities can make the most of their property through new partnerships
Public-Private Partnerships (P3’s) offer HBCUs a unique opportunity to execute substantial student housing renovations and new construction projects without incurring debt or taking a detrimental financial risk. The devil, however, is always in the details. Many privatized student housing developers ask for occupancy guarantees along with other financial considerations that expose colleges and universities to financial risk. A well-structured P3 that is financed in the capital markets can receive an investment-grade credit rating and not require the college or university to make any occupancy guarantees or take on any risk. This type of financial model would be hard to accomplish anywhere other than in the capital markets with an experienced development and finance team. This model also requires a non-profit ownership group and a national conduit issuer to be part of the transaction structure. (Forbes)
Atlanta Black college leaders speak out against new Georgia voting law
The leaders of Atlanta’s historically Black colleges and universities are voicing their opposition to Georgia’s new voting law.
The presidents of Clark Atlanta University, Morehouse College, Morehouse School of Medicine, and Spelman College released a joint statement Wednesday saying the controversial law will negatively impact access to voting for many Georgians, particularly African Americans. Morris Brown College, a historically Black school nearby, released a statement expressing its dismay with the law. (Atlanta Journal-Constitution)
Corporation for Public Broadcasting funds COVID-19 PSA campaign for HBCU radio stations
The Corporation for Public Broadcasting (CPB) has awarded more than $300,000 to Native Public Media and to KTSU-FM/Houston, a public radio station licensed to a Historically Black College and University (HBCU), to coordinate COVID-19 public outreach campaigns to 51 public radio stations serving Native and Black communities. The campaigns, airing on 36 tribal stations and 15 stations licensed to HBCUs, will provide trusted, life-saving information about vaccines to the most vulnerable populations in the U.S. (Radio Online)
The NBA and an HBCU-League: Why the NBA should invest in Historically Black Colleges
Now the real PCL has stuttered at the starting gates and at roadblocks along its path so far. Whether that be due to the pandemic or the general difficulty of running a sports start-up, it is difficult to say. The PCL has announced three of its teams and has some coaching staff announcements in place but its struggles make manifestly clear just how difficult starting up a new basketball league really is.
Per the LA Times, “Schwarz and Volante found that HBCUs were not willing to leave the NCAA. Then, they switched to a plan that would have the HBL use club sports on HBCU campuses as the home for their talent. That way, the players could represent the HBCU brand and the schools could still be a part of the NCAA with their varsity programs. Resistance remained.” (The Davidsonian)
INDUSTRY NEWS
Biden budget proposal increases Pell, HBCU research funding (Inside Higher Ed)
West Virginia legislature passes budget on Day 60, with questions about higher ed funding (WV Metro News)
New Mexico signs scholarship funding bill for students of Tribal colleges (Los Alamos Daily Post)
Ivy League acceptance rates hit “shocking” lows amid pandemic upheaval (CBS News)
