City Council Approves $117M Bond Request to Assist Valparaiso University Plan for Financial Rescue

City council approves $117M bond request to assist Valparaiso University plan for financial rescue

The Valparaiso City Council agreed unanimously to be the gateway for struggling Valparaiso University to have access to up to $117 million in issued bonds to help refinance existing debt and finance new projects, including building renovations. Ordinance No. 9 2025 passed with a second reading during a special council meeting Friday. At the council’s May meeting when the ordinance was first introduced, Valparaiso University officials emphasized …

Council approves Valparaiso University bond issuance without provision to restrict future art sales

Chief Financial Officer Mark Volpatti says about $12 to $15 million will be used for new capital projects and to make up for deferred maintenance. "Putting an elevator into an existing building for accessibility, looking at some science project labs and also, maybe, perhaps, renovating some unfinished spaces for student and academic success," Volpatti told council members during Friday's special meeting.