Glendale College trustees issue first $122 million in bond funds

Glendale Community College officials voted this week to issue the first $122 million of a $325 million bond that 73% of voters passed with overwhelming support in November.

“We are now moving forward on the first phase,” said David Viar, the college’s superintendent/president, during a board of trustees meeting on Tuesday. “We have identified several areas where we believe we could move forward.”

According to federal law, $122 million of the Measure GC bond must be spent within three years, Viar added.

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A preliminary plan shows the money could be divided up to cover several areas in need of improvement, including seismic retrofitting of the Verdugo Gym and construction of an addition onto the building as well as construction of a new facility for the college’s fire academy.

A portion of the $122 million could also pay for upgrades, such as roof repairs on several buildings as well as plumbing, lighting and electrical work and improvements to computer network systems.

Additional security access and camera enhancements could also be part of the final plan.

Officials may also tap into the bond funds to purchase land and buildings near the existing Verdugo and Garfield campuses, according to a report outlining the proposed improvements.

In a separate item, trustees on Tuesday agreed to hire Glendale-based Stevenson Real Estate Services to assist officials in “identifying and purchasing real property to expand the land space for the Garfield Campus,” according to the report.

As part of a one-year contract, a 2% commission would be paid to the firm “in the event a property is purchased.” However, the company wouldn’t be paid anything unless a purchase is made.

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Kelly Corrigan, kelly.corrigan@latimes.com

Twitter: @kellymcorrigan