McGoldrick Center for Career & Student Success
The McGoldrick Center for Career & Student Success budget of $26.6 million will be funded by $19 million in State of Maine bonds and $7.6 million in private philanthropy. The $19 million in bond funding results from Question 4 on the 2018 ballot, which provided $49 million to the University of Maine System (UMS) for modernizing UMS facilities to attract and retain students to Maine as well as to promote and enhance workforce development in our state.
Portland Commons Residence Hall
Portland Commons’ $72.8 million budget will be funded exclusively by University of Maine System revenue bonds, with annual debt service to be paid by the University of Southern Maine (USM). As part of the procurement process for the CSSC and Portland Commons residence hall project, USM, and University of Maine System leadership engaged in a detailed strategic review of project financing and facilities operations for Portland Commons. The goal of the review was to ensure that USM and UMS maximized the public-private partnership (P3) approach for the benefit of the project.