FOR IMMEDIATE RELEASE
March 9, 2022
Contact: [email protected]
Public Finance Authority Helps to Finance New Student Housing for University of Hawaii Foundation
March 9 – The Public Finance Authority is pleased that financing is completed for the University of Hawaii Foundation’s Atherton Residential Life Innovative & Entrepreneurship Center, which is anticipated to include a 374-bed student housing facility and space to house the University’s Pacific Asian Center for Entrepreneurship program.
“The University of Hawaii Foundation project in Honolulu is an excellent example of the PFA helping to build vibrant communities,” said Mark O’ Connell, president and CEO of Wisconsin Counties Association, a founding sponsor organization of PFA. “PFA’s financing assistance supports public benefit projects without any risk to the taxpayer and this project will provide exciting opportunities to the students, inventors, and researchers at University of Hawaii at Mānoa.”
The University of Hawaii Foundation was established in 1955 to encourage private support for the University of Hawaii and, today, serves as the central fundraising organization for the UH System and is contracted by the Board of Regents to be the sole provider of fundraising and alumni services. The Foundation notes that this project is designed to provide local students with a unique educational opportunity found in very few global research universities in order to attract entrepreneurial students, inventors, and researchers from around the world to attend the University of Hawaii at Mānoa. Additionally, the foundation notes that this project will incorporate student housing, incubator space for startups, comprehensive support services and programs, as well as a large coworking/collaboration area in support of innovation and its entrepreneurs.
PFA partners with local governments to assist in the financing of public benefit projects that create temporary and permanent jobs, affordable housing, community infrastructure and improve the overall quality of life in local communities. In 2021, the Public Finance Authority celebrated more than 10 years assisting in financing public benefit projects that provide local economic development, create jobs, produce state and local tax base, and meet needs of eligible borrowers which state or local issuing authorities may not be able to serve.
PFA was established By Local Government. For Local Government.™, in order to provide local governments and eligible private entities nationwide with access to low-cost, tax-exempt and other financing for projects that are important to the community and contain no risk to the taxpayer. PFA is jointly sponsored by the National Association of Counties, National League of Cities, Wisconsin Counties Association and League of Wisconsin Municipalities.