A new $1.6 million cafeteria will be built on the south campus of North Platte Community College, the college board of governors agreed Wednesday. The cafeteria will be attached to the existing student activities center, college spokesman Chuck Salestrom said. Dowhower Construction will be the general contractor.
To pay for the new cafeteria, the college will refinance its existing bond and rely on charges for meals and housing.
Refinancing the college’s existing bond will capture a lower interest rate – from 4.45% to approximately 2.15% -- and the life of bond will be extended for five years. The annual bond payment of $295,000 is expected to remain about the same, Salestrom said.
Construction is starting immediately, Salestrom said.