Mississippi State borrowing to build $9M parking garage - WLOX.com - The News for South Mississippi

Mississippi State borrowing to build $9M parking garage

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Mississippi State University is planning a 500-space parking garage projected to cost $9 million.

College Board trustees earlier this month gave approval for plans to be drawn up and for Mississippi State to borrow the money by selling bonds for up to 30 years.

The university plans to increase prices for parking on campus to finance the $660,000 in projected yearly debt payments.

Mississippi State, in documents submitted to trustees, says a 2015 parking study show that the campus will have a parking space shortage by 2020 if the university doesn't act. Planners hope to shift traffic away from the now-congested south side of campus by building the garage on the north side. The university also says the garage will help make the rest of campus more pedestrian friendly.

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