Financing Closer for EWCHEC
Beginning construction of the East Williamson County Higher Education Center took a giant leap forward Tuesday when House Bill 2805 passed the House and went to the Senate for consideration.

The legislation will end financing difficulties the center is facing. Though EWCHEC has $550,000 in annual pledged contributions from five entities for the next 20 years, because some of those entities must reapprove that funding each year, banks have been hesitant to provide the necessary credit to begin construction on the facility.

“What the passing of this bill will do for us is allow us to have one entity back the effort and secure the financing,” Chair of the Temple College at Taylor Foundation Thomas Martinez said. “That is our main goal, to allow the financing structure so we can continue to improve the education in Eastern Williamson County.”

The foundation is one step ahead of the process, having been in contact with several financial institutions that are interested in providing funding once the law is in effect, Thomas said. But for now, the group is waiting to see how the bill fares in the Senate.

“We feel good about where we are at and the progress that we’ve made and look forward to moving on with getting the financing in place and getting the buildings built,” Thomas said.

If the bill becomes law, it would require the City of Taylor, Taylor Economic Development Corporation, Texas State Technical College, Taylor ISD and Temple College at Taylor Foundation to regularly appropriate their annual contributions without any debate.