The Mesalands Community College's Board of Trustees voted to seek approval from the state for $3.2 million to construct an on-campus residence hall.
The proposed two-story residence hall was presented to the trustees at Tuesday's board meeting by Mesalands dean of Administrative Services, David Gallatin.
The hall will house 48 students and feature two student lounges and on-site laundry facilities, according to the design by Kilmer and Associates A.I.A., a Clovis-based architectural firm.
Mesalands is seeking a 30-year loan from the state, President Phillip O. Barry said.
The payments on a 30-year loan will be about $200,000 annually, and if the residence hall maintains an 80 percent occupancy rate, the college should realize an annual revenue of $240,000 based on $3,000 a year, per student, Gallatin said.
"Let's find out if the money is there," said trustee Jim Streetman. "This is not an approval, but is a way for us to determine if the money is available for us to proceed."
Streetman said that this is a great step forward for the the college and that the students enrolled in the wind energy and rodeo programs could fill the proposed residence hall.
Mesalands met one of its annual goals with the enrollment of their 1,000th student for the fall 2008 semester.
"This is a major milestone for Mesalands," Barry said. "We are thankful to the community for helping the college to grow."
Lucas Benavidez, a Tucumcari High School student, is a duel credit student, who is also enrolled in the Computer-Aided Design course at Mesalands as part of the college's building trades program.
Benavidez received a $100 gift certificate to the college's book store.
There are 1,055 students currently enrolled at Mesalands, Barry said.
Other items before the board included:
l Approval of a list of items to be put in an auction at the college at a date to be announced later.
l Support of Bond D on the Nov. 4 election ballot. Barry said that over 60 percent of Quay county approved Bond D. Voters authorized the sale of up to $140,133,000 in bonds for higher educational and special schools capital improvement and acquisition bonds and provided for a general property tax to pay off the bonds.