Financing College Facilities: Factors Limit Connie Lee's Ability to Help MoreSchools

摘要

The College Construction Loan Insurance Association (Connie Lee), is a for-profitbond insurance holding company that is authorized by federal statute and owned by stockholders, including the Department of Education. You asked the authors to provide you with information on how Connie Lee has carried out its mission, especially for the 102 Historically Black Colleges and Universities (HBCU). This report describes: (1) the extent to which Connie Lee has served the needs of schools of higher education, especially HBCUs, by insuring municipal bonds issued to finance the construction and renovation of academic facilities; (2) the reasons why Connie Lee has not insured bonds for more schools; (3) HBCUs' views on alternatives to Connie Lee for financing construction and renovation projects; and (4) Connie Lee's views on changes to Connie Lee that might enable it to better serve HBCUs. In addition, the authors agreed to describe Connie Lee's financial record and profitability.