Cazenovia College will receive $9.9 million for its Shove Hall expansion at the corner of Sullivan and Seminary streets:
Caz College gets $10 million loan for expansion
The Madison County Industrial Development Agency signed off on a $9.9 million loan for Cazenovia College’s dorm expansion today.The school is planning to add 100 rooms to Shove Residence Hall, on the southwest corner of the campus near Sullivan Street. The IDA will issue tax-exempt bonds to finance the loan.
The IDA will donate one-third of its fee for arranging the bonds — about $25,000 — to the Cazenovia Area Community Development Association. The nonprofit plans to put the donation toward its executive director’s salary and four potential projects.
--Staff writer Alaina Potrikus