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NNMC Regent Kevin Powers & RBC Capital Markets Possible Conflict of Interest in $16 Million Dorm Project

4/10/2015

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NNMC VP of Finance Domingo Sanchez, NNMC President Nancy "Rusty" Barcelo, Regent Kevin Powers, Director RBC Capital Markets Paul Cassidy at NM HED requesting dorm project approval (left to right). Click each pic to view larger.
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Director of RBC Capital Markets Paul Cassidy at NNMC Board of Regents meeting (May 2014) with former Regent Michael Branch, Regent Kevin Powers, NNMC President Nancy "Rusty" Barcelo, Regent Rosario "Chayo" Garcia, NNMC VP of Finance Domingo Sanchez, and Peter Franklin of Mondrall Sperling Law Firm (left to right).
As Northern New Mexico College continues litigation against Monument, LLC, their dorm developer, the NNMC Study Group felt it important to explore the history of failed dorm projects at NNMC.[i] In particular, we have uncovered the possible conflicts of interest in various phases of the project with NNMC Regent Kevin Powers. Regent Powers was the Director of RBC Capital Markets in Albuquerque, the bond underwriter for the dorm project in 2007 and again in 2013-2014.

The NNMC dorm project was first proposed during the administration of former NNMC President José Griego. The college issued a request for proposal (RFP) seeking a company to act as project manager for dorm development. One of the duties of the project manager would be to devise a financing scheme, i.e. handle the details of funding the project via the issuance of bonds by the college or some other entity of state government acting on the college’s behalf. The project manager would oversee all aspects of the project and would manage or sub-contract the various elements of work to other companies such as an architectural firm, a construction firm, or a bond underwriter.

An experienced company, well-qualified to be such a project manager, responded to the RFP. That company was Institutional Project Management (IPM) of the Chicago area. IPM’s proposal identified RBC Capital Markets as the bond underwriter. At that time Regent Kevin Powers was identified as the Director of RBC Capital Markets in Albuquerque.

Communications between the college and IPM show that IPM was to be selected as the dorm project manager. But on the eve of the anticipated formal action awarding the management contract to IPM, then NNMC Board President Michael Branch proposed a change in the proposal specifications regarding the materials to be used for the dorm buildings beams. Branch, CEO of Santa Fe’s Branch Realty Commercial Advisors [sic], wanted to substitute steel beams for wooden beams. IPM informed NNMC that such a change would mean a substantial increase in construction cost and thereby have an impact on the financing aspects of the project. Another development at this stage of the was IPM’s announcement that the company wished to amend its proposal to make a change it the architectural firm it had initially proposed as one of its sub-contractors in the project.  

Based on these two developments, NMCC cancelled the RFP and rejected the IPM proposal. The NNMC Board then stated that no other company had submitted a “second best” proposal and the entire dorm project was effectively cancelled/put on hold. 

IPM then sued the college appealing the Board’s cancelling of the RFP and alleging that the college had violated various legal requirements it was bound to observe (such as basic State procurement procedures).[ii] The case was settled via a stipulated dismissal, meaning an out-of-court settlement was reached between IPM and NMCC in 2010. IPM also sued NNMC in a related case, which was regarding the college’s refusal to release public records as required by the NM Inspection of Public Records Act.[iii]

Certainly Kevin Powers, per his role as a senior executive at RBC Capital Markets, was involved in the IPM submissions to NMCC that identified RBC as the underwriter of bond for the dorm project. And surely Powers was aware of the IPM/NMCC disputes leading to the aforementioned litigation. 

The dorm project effectively went into hibernation until sometime in 2012 or 2013 when the BOR resuscitated it.  

Meanwhile, Powers retired from RBC in November, 2012. Just two months later in January 2013 Governor Susana Martinez appointed Powers to the NMCC BOR. However, the state Senate failed to consider confirmation of that appointment and Powers became a “regent-in-waiting” for the duration of 2013, taking his seat only after the state Senate did confirm him in January, 2014.   

It is not known what, if any, continuing financial relationships/entanglements Powers may have with RBC Capital Markets as a retired executive of that securities firm. 

It was during his “regent-in-waiting” period that the NMCC Board of Regents (led by Michael Branch) revived the dorm project. The dorm project’s second incarnation involved a new company playing the role of project manager. That company was Indiana-based Monument, LLC. Regents Branch and Herrera, who led the new push for dorms, were intimately familiar with the IPM fiasco as they were both serving as Board members in 2008. 

In the minutes of the February 2014 NNMC Board of Regents meeting, Regent Herrera gave a report regarding Monument and the dorm project. That meeting was the first meeting attended by retired RBC Director Kevin Powers (immediately following his Senate confirmation). Herrera, according to the minutes, specifically mentioned that Monument’s services on behalf of the dorm project would involve the participation of RBC, newly-installed Regent Kevin Powers’ former employer. 

The Monument services being provided to the college vis-à-vis the dorm project and RBC’s role in that endeavor were remarkably similar to those proposed by IPM back in 2008.

Throughout its failed 2013-2014 attempt to build new dorms, NNMC Board of Regents meeting minutes and college-related documents demonstrate RBC assisted Monument in that company’s quest to obtain approval of bonds to be issued to fund the dorm project. That quest met with failure. 

NNMC entered into two contractual agreements with Monument, LLC, which total near one-million dollars. The college paid Monument in full for its services performed pursuant to the first contract. But the college has failed to make payments to Monument pursuant to the second contract. NNMC ceased additional payments to Monument coincidentally after to the college failed to obtain endorsement of the dorm project (and issuance of bonds) from the State Board of Finance. That failure effectively killed the dorm project in its second incarnation.

Subsequently Monument’s attorney, Jason Bowles, wrote the college regarding the payments Monument was owed under the second Monument/NMCC contract (roughly $600,000). Bowles suggested mediation (as required under the second contract) as a method for resolving any disputes regarding the unreceived payments. In response, the college filed a State District Court lawsuit against Monument seeking a declaratory judgment stating that the college was not liable for any additional payments to Monument. This action, filed by NMMC’s legal counsel, Basham & Basham of Santa Fe, was a preemptive strike by the college to forestall any debt-collection lawsuit against the college by Monument.

This new dorm-related litigation in which the college is now embroiled may or may not involve some review of the pleadings/evidence in the 2008 IPM lawsuit against NNMC regarding the dorm project.

Of particular interest is the relationship of NNMC Regent Kevin Powers (RBC Capital Markets, former Director) with the 2008-2009 IPM failed dorm project, and his involvement with the 2012-2014 Monument deal, which was assisted by RBC. What were the entanglements as during the resurrection of the dorm project?

What were the discussions between Regent Powers, the NMMC Administration/Board members, and RBC in the 2012-2013 period when Powers was about to retire from RBC? What were the discussions between when Regent Powers was newly retired from RBC, and was a regent-in-waiting as the Monument/NNMC dorm project relationship was initially flowering?

Of particular interest are Regent Powers’ conversations and interactions with his former colleagues at RBC as Monument and RBC efforts to secure bond approval were underway after he took office on NNMC Board in 2014.


We might also ask the propriety of Powers’ involvement with the proposed $16 million dollar dorm deal involving RBC when, according to his 990-T disclosure form to serve on the NNMC Board, Powers and his wife Marci listed annual income over $5,000 as “various stocks bonds & funds 401k & IRA.” What are the amounts Regent Powers and his wife have continued to draw from RBC?

Below is a small excerpt of the May 2014 NNMC Board of Regents meeting, we see Regent Kevin Powers pledging the direct and active support of the NNMC Board members to RBC's current Director Paul Cassidy (4:15).[iv] The intimacy of the continuing relationship between NNMC Regent Powers and RBC Capital Markets will continue to be probed.
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[i] For full story and court documents on the lawsuit filed by NNMC against Monument, LLC, see: http://www.nnmcstudygroup.org/blog/nnmcs-barcelo-administration-sues-its-dorm-developer-to-avoid-payment-of-650000-past-due The Rio Grande Sun has also reported on the lawsuit. See story at:
http://www.riograndesun.com/articles/2015/04/09/news/doc55259c88b4285872893446.txt

[ii] The case number for that lawsuit, filed in 2008, is D-117-CV-200800427. All of the case-file documents are domiciled at the Rio Arriba County Courthouse (First Judicial District Clerk’s Office) in Tierra Amarilla. All such documents (contained in two large file folders) are hard copies. The case file is not imaged and therefore inspection of those documents requires visit to T.A. These voluminous case file documents reflect/substantiate the narrative above. 

[iii] The IPC IPRA case number is D-117-2009-00265.

[iv] NNMC minutes of that Board meeting available online at: http://nnmc.edu/wordpress/wp-content/uploads/2014/08/BORMinutesMay222014.pdf The RBC Capital Markets presentation by Director Paul Cassidy begins at page 11.
Additional excerpts of the RBC and Mondrall Sperling presentation at the May 2014 Board of Regents meeting available on youtube at the NNMC Study Group Channel at:
https://www.youtube.com/channel/UChVQBq07UoeNxltoa7syzXw/videos  
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Board of regents meeting at Branch realty          tuesday, February 24th, 5pm

2/21/2015

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The NNMC Board of Regents will hold a Finance Committee Meeting in Santa Fe at Branch Realty Commercial Advisers on Tuesday, February 24th at 5pm. This meeting, held hidden away from Rio Arriba County and the Española Valley community at Regent Michael Branch's place of business, is subject to the NM Open Meetings Act. [1]

The public and reporters may attend, record, and document the meeting in full. On the agenda at Branch Realty Commercial Advisers are: 1) Fiscal Watch Reports, 2) Budget Adjustment Request, 3) Capital Projects Updates, and 4) Residence Hall Update.

The discussion at Branch Realty Commercial Advisers will set the financial decisions for the full Board of Regents Meeting on
Thursday, February 26th (see full agenda at top right), where the Regents will vote on a tuition hike and will unveil their Plan B (or is it Plan G) for building dormitories for out-of-state students as NNMC's enrollment continues to decline precipitously. Regent Michael Branch, whose term expired on December 31, 2014, tightly controls the Finance Committee and the Board of Regents. Branch's Commercial Real Estate company's ties to the multimillion dollar dorm development project (projected by NNMC Administration and no-bid consultants to cost over $16 million) is yet to be revealed.

Branch Realty Commercial Advisers is located at: 228 S. St. Francis Drive. Bldg E, Santa Fe, NM 87501. The meeting will be held in the Conference Room. Call (505) 984-8100 for directions, or call the NNMC main switchboard and request Assistant to the President, Amy Peña, who generates agendas and public notices. Ms. Peña fulfills requests for full public agendas and meeting details. NNMC main switchboard: (505) 747-2140.
Assistant to NNMC President Barcelo, Amy Peña email contact: amy.pena@nnmc.edu

February 24th UPDATE:
When contacted by at NNMC by phone, VP of Finance Assistant Brandi Cordova confirmed at 2:37pm that the Board of Regents Finance Committee Meeting at Branch Realty was not publicly announced, explaining: "Oh, that meeting was not announced so I am not at liberty to share that information."

In clear violation of the Open Meetings Act, the Board of Regents Finance meeting was held as scheduled at Branch Realty with NNMC Administrators and Board of Regents members in attendance. The public was barred from entry at 5pm by VP of Institutional Advancement, Ricky Serna. At left is the internally distributed meeting agenda
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[1] Download or view full text of New Mexico’s Open Meetings Act online at: http://www.nmag.gov/consumer/publications/openmeetingsactcomplianceguide 

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Secret meeting Blames students and governor

8/18/2014

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On April 26, 0214, the NNMC Board of Regents voted to uphold the recommendations of NNMC President Nancy “Rusty” Barceló and her Executive Team, cutting the college’s Career Tech programs that included Automotive, Construction Trades and Radiologic Technology programs. These cuts also meant removing several tenured and tenure-track professors, instruction and program staff. Hundreds of members of NNMC and the larger public called, wrote, emailed and attended NNMC Board meetings in an effort to convince the Board that the budget that increased Administrative spending and salaries while cutting student services and instruction would have a lasting negative impact.

After the Board voted for all cuts recommended by Barceló and her Executive Team, Chair of the NNMC Board of Regents Rosario “Chayo” Garcia ended the April 26th meeting in tears, voice wavering. After collecting herself Garcia concluded, “I love this college; I love this community. And I’m afraid what’s happened the last few days will start an avalanche we’re not going to be able to control.”[i]

Chair Garcia was prescient—since the vote, Northern has seen several lawsuits filed by former employees, has lost a multimillion dollar federal grant, has been found in violation of a separate federal grant, has been investigated by the American Association of University Professors, has seen a rash of faculty resignations, has aggregated over 750 signatures in a petition against its 2014-2015 proposed budget, has short-paid its adjunct faculty after being unable to meet its basic operating  expenses at the end of the fiscal year, and has lost attempts at a bond measure to build a no-bid $13-16 million dorm.

The out of control avalanche predicted by Chair Garcia is also seen in Northern’s fall enrollment, which shows an unprecedented and massive decline. NNMC’s Registrar Kathleen Sena reports fall enrollment as low as 400 full-time equivalent (FTE) students. This is over a two-thirds loss in FTE students since 2011 when FTE enrollment was at 1,254.[ii]

This month, Vice President of Institutional Advancement Ricky Serna took the extraordinary measure of over-riding the College’s financial disenrollment deadline (the date by which students are dropped for non-payment). Serna directed financial aid and admissions officers to ignore the disenrollment deadline for hundreds of students though they had not paid tuition and/or fees or otherwise made payment arrangements. Serna’s attempt to keep enrollment numbers up is telling of the desperation NNMC Administrators are feeling. Indeed, at the August 14th “Board Retreat,” Provost Pedro Martinez plainly stated, “We have to increase enrollment. No matter what.” VP of Advancement Serna echoed those remarks explaining, “We need more students to enroll period. We need to double the size of the institution.”[iii] Regent Powers disagreed with President Barceló, who was determined to argue that the enrollment decline was simply part of a statewide trend. “We stand out in the crowd,” corrected Regent Powers, “Our enrollment declines are very dramatic.”   

President Barceló and the Board met for over three hours discussing the increasingly empty campus. Although Chair Garcia and Board Member Herrera made the case for the very Career Tech programs they cut just months ago, Board Member Branch reaffirmed his belief that the program and faculty cuts were wise. He explained that after asking for (and getting) hundreds of millions of dollars from the New Mexico Legislature to build state-of-the-art Automotive facilities, the efforts and money were ultimately worthless, “Do you need an AA to work at Jiffy Lube?” asked Branch.

Regarding low registration numbers, Regent Powers (whose son is enrolled at NMSU) and Provost Martinez (whose son is enrolled at Santa Fe Community College) both complained about the lack of sophistication of NNMC students. Pointing to late enrollment, Martinez complained, “Procrastination is part of the culture itself.” He also explained that retention rates were low because, “We get students who can’t do fractions. We have a large population of students… with certain deficits.” Chair Garcia agreed with Martinez adding, “They’re not mature enough.”

As watchers of Northern expect, in the meeting as with most, all roads lead to the issue of dorms. Regent Powers made a connection between declining enrollment and the lack of dorms at the Española campus. (The college has dorm facilities at the El Rito Campus, which have been more than adequate for for-profit summer conferences and the like). President Barceló’s Administration and the NNMC Board have tried for several years to push through a plan for a no-bid dorm project, which was most recently ignored by the New Mexico Board of Finance. (The Board of Finance found NNMC's proposal so lacking it did not bring funding NNMC’s dorm proposal up for vote).[iv]

Powers asked of the lack of Española campus dorms, “How much is it impacting enrollment?” The answers by NNMC Administrators were shockingly disparaging of both the Española Valley and NNMC students—perhaps because members of the public were not present. The assembled leaders of the college argued that for NNMC to survive it needed to move beyond the local community, recruiting from outside the Valley and out of state. They argued that outside-influence was critical to the success of local students.   

“We have students who are sheltered by the valley. We’re not diverse... we’re homogenous,” noted VP of Advancement Serna. Board member Branch added that without dorms filled with out-of staters, there is no student life, just locals who "Go from class to car... Who do I meet? We know each other anyway.” Branch, a resident of Santa Fe, added it is unwise to recruit students into Española without dorms to separate them from the local community because of “certain social problems.” Provost Martinez further explained NNMC needs out-of staters to edify local students, “Our students are very provincial. Some of our students have never been out of the county.”

Agreeing with these assessments, Regent Powers declared, “We have to be sure this student housing thing gets placed high up in the priority list.” Regent Powers, appointed by Republican Governor Susana Martinez, attacked the New Mexico Board of Finance for not allowing NNMC a bond to fund the dorm project. Governor Martinez sits on the Board of Finance and was critical of the NNMC dorm plan at the July Board of Finance meeting.[v] Regent Branch asserted of Legislators who have refused to approve the no-bid dorm project, “We haven’t been treated properly on this.” Amplifying Branch’s comment, Powers stated, “There’s injustice here. We need to try to expose it.” The NNMC Study Group wonders how Governor Martinez might respond to charges of injustice by her Republican appointee, Mr. Powers, not to mention the absolute silence of Republican Chair Chayo Garcia when these charges were made by Regent Powers.

President Barceló and the members of the NNMC Board (with the exception of Board member Donald Martinez, who did not attend the “Board Retreat”) have exhibited continued intransigence even with unprecedented low enrollment numbers that threaten the survival of the college. The “Board Retreat” neglected to acknowledge the assembled leaders’ role in the college’s decline and instead blamed and insulted the students of the Valley, Legislators, the New Mexico Board of Finance, and Governor Martinez. President Nancy "Rusty" Barceló and the members of the NNMC Board are running out of students to insult and critics to blame. As Chair Garcia predicted, Northern is now being crushed by the avalanche Barceló and the Board initiated. 

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[i] “NNMC Regents Approve Budget,” T.S. Last, Albuquerque Journal (27 April 2014). Available  http://www.abqjournal.com/390393/news/nnmc-regents-approve-budget.html

[ii] “Northern Struggles with Retention, Enrollment Numbers,” Ralph Chapoco, The Rio Grande Sun (14 August 2014). Available http://www.riograndesun.com/articles/2014/08/14/news/education/doc53ebbb9fe442e550185678.txt

[iii] Audio of full “Board Retreat” available from below. The Board met as a quorum but did not give notice of their 4:00 to 7:45pm meeting as a public meeting, nor did they post the agenda of the meeting as required by the Open Meetings Act.  The Board has not released the draft minutes of this meeting within 10 days as required by the Open Meetings Act.

[iv] See more at “NNMC Dorms: Indefinite Hold.” Available http://www.nnmcstudygroup.org/blog/nnmc-dorms-indefinite-hold

[v] The full New Mexico Board of Finance Meeting can be accessed http://governor-nm.granicus.com/MediaPlayer.php?view_id=2&clip_id=1557 (Northern New Mexico College’s presentation is the last of the day and begins at 5:37 and continues until the meeting adjourns at 6:21.)


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NNMC DORMS: indefinite hold

7/17/2014

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On July 15th, the New Mexico Board of Finance met, with two items on their agenda, which are critical to Northern New Mexico College and Española Valley/ New Mexico taxpayers.

NNMC Administration and Board Members requested a $16M “Systems Improvement” Revenue Bond to, at long last, begin their feverishly pursued Student Housing Construction Project.

Demonstrating a level of transparency unknown to NNMC’s Board of Regents, the New Mexico Board of Finance makes video and audio of every meeting available online. You may access the July 15th meeting in full at http://governor-nm.granicus.com/MediaPlayer.php?view_id=2&clip_id=1557 (Northern New Mexico College’s presentation is the last of the day and begins at 5:37 and continues until the meeting adjourns at 6:21. All quotes from the meeting in time brackets.)

The members of the NM Board of Finance firmly questioned NNMC President Nancy “Rusty” Barceló, Vice-President for Institutional Advancement Ricky Serna, Vice-President for Finance and Administration Domingo Sanchez, and the President of Monument Construction Timothy R. Pitcher.[i] Pitcher’s company is located in Indianapolis, Indiana, so the NNMC Study Group hopes that Mr. Pitcher had other business in Northern New Mexico—maybe golf—that can justify his unsuccessful trip to win approval of public bonds to construct dormitories for NNMC. But we’re getting ahead of ourselves…

The New Mexico Board of Finance refused to vote to pass the requested revenue bond for the student housing construction project. In the last few awkward, uncomfortable minutes of the meeting, not a single member of the Board of Finance would put forward a motion to vote on the NNMC requested bonds and construction [6:19-6:21]. Because no member of the Board would put forth a motion to approve the bonds, the ill-conceived, no-bid project was finally defeated. Or at least shelved, deferred, tabled… indefinitely.

In denying the schemes of NNMC President Barceló and her Board of Regents, the New Mexico Board of Finance scored a win for current NNMC students, who have seen their tuition increase by more than double in three years as programs, services, instruction and faculty have been cut. The New Mexico Board of Finance also scored a win for New Mexico taxpayers, who have watched as Northern New Mexico College has squandered our hard-earned money while President Barceló and her Executive Team, including Vice-President for Institutional Advancement Ricky Serna and Vice-President for Finance and Administration Domingo Sanchez have sent our college into a steady decline.

We might imagine the deep embarrassment—even humiliation—that must be felt by Barceló et. al. after years of confident and premature announcements of their new dorms on campus: “Northern New Mexico College will open its first residence hall on the Española campus in Fall 2015,” boasts the College website.[ii] Indeed, NNMC Men’s Basketball Coach and Athletic Director Ryan Cordova has been recruiting student athletes to Northern assuring full on-campus accommodations. Will those students and their families receive an apology for NNMC’s disingenuous promises?

How were the NNMC Administrators and NNMC Board of Regents able to so confidently—if ineffectually—argue their case to the New Mexico Board of Finance?

At the May 22, 2014 NNMC Board of Regents Meeting, NNMC Board Members Michael Branch (owner, Branch Realty, Santa Fe), Kevin Powers (retired, investment banking, Albuquerque), Alfred Herrera (retired, New Mexico Public Education Department, Española) and Rosario “Chayo” Garcia (agent, New York Life Insurance Company, Española) voted unanimously to allow Paul Cassidy of RBC Capital Markets and Peter L. Franklin of Santa Fe’s Modrall, Sperling, Roehl, Harris & Sisk, P.A. Law Firm—to act as agents of NNMC—pursuing funding for the multimillion dollar, no-bid dorm project.[iii] The NNMC Board of Regents approved this though Franklin explained that this funding strategy "describes the security for the bonds” as “basically the College's system’s revenues, basically all the revenue that the college earns or takes in.” [iv] 

When Board Secretary Herrera, asked if this meant Northern was pledging the dorms themselves and the dorm revenue as security (aka collateral) Peter Franklin clarified that the guarantee of the debt was not a guarantee using the project itself, but instead the NNMC Board of Regents was seeking to pledge

           [E]ssentially all the College’s assets. All the College’s revenues and assets.
           This is not a project revenue financing where all you’re pledging is the
           revenue generated by the student housing. Um… would be nice if it could
           be that, but…  I… the problem is it won’t… Well, I shouldn’t get into that…” 

When pressed further by Regent Branch on guaranteeing the debt incurred by building the dorms, attorney Franklin responded, “All I guarantee is that… I got out of bed this morning and here I am.”

Paul Cassidy explained that the tax-exempt bonds would be “a fixed-rate debt that can’t be refinanced for ten years.” Thus, the terms the current NNMC Board Members vote for would be set in stone for at least a decade. No matter, let’s not worry about the details! Cassidy continued assuring the Board Members, “I think the keys, though, to the project are getting State Board of Finance approval. Once you have State Board of Finance Approval and NMFA Board approval on the loan, your consultants on the construction side can get started.” 

But when the New Mexico Board of Finance met this week they not only did not approve the project, they strongly questioned the proposal. Issues included:
  1. Dropping student enrollment [5:43, 5:55];
  2. NNMC’s proposed student housing project receiving Moody’s lowest investment grade    rating [5:47];
  3.  A needs survey that was poorly designed and “unrealistic” [6:01];
  4. No forward-thinking budget to operate the student housing [6:03-6:05]; and,
  5. Intentionally leaving summer revenues out of the proposal [6:11].

Further, the New Mexico Board of Finance was clearly disturbed by the $978,000 in fees charged by Monument Construction for “student housing study,” “student housing survey,” “financial analysis,” and “market analysis” [6:06-6:08]. Yes, close to one-million dollars in fees to—as a member of the New Mexico Board of Finance put it—“[do] the study to show need for housing… and you’ll build it?” [6:09]. Yes, NNMC’s Administration agreed to pay just under one-million dollars of our taxes to Monument Construction, which studied the need for the student housing they would be building.

Followers of NNMC may recall that this April, President Barceló’s Administration insisted on cutting three programs , 7-10 full-time staff and instructors (tenured professors among them), and eliminating our Child Development Center to make up a $250,000 shortfall in their budget. The cuts to student instruction, faculty, staff and child care equal approximately one-quarter of the fees paid to Monument to study the needs for its own services. President Barceló released a paid advertisement that read in part “Considering the closure of any program is a difficult and unfortunate task, but one that is sometimes necessary in order to preserve our College.” [v] Meanwhile, her administration paid approximately four times that amount to Monument Construction.

New Mexico Governor Martinez ended the New Mexico Board of Finance meeting with a compassionate understatement, “We need more time in viewing the stability of the institution” [6:03]. Another Board of Finance Member said simply, as if to a child, “Thank you for coming to talk to us. Good luck.”

So what will NNMC’s Administration and Board of Regents do next? Will they abandon the ill-advised, no-bid student housing plan? Will they concoct another multimillion dollar scheme? (Board member Branch has often shared his deep longing for more capital projects and a memorial at El Rito.) Will they be chastened by their own embarrassing display at the New Mexico Board of Finance? Will President Barceló think less of her “legacy “of bronze plaques on stucco and at long last concentrate on serving the instructional needs of our students? Will the Board be reminded of the main mission of our public educational institution?

When the NNMC Board met today (Thursday, July 17th) the Residence Hall update was less than one-minute long, and made no mention of the concerns of the New Mexico Board of Finance and the Board of Finance’s refusal to vote on passage of a $16M “Systems Improvement” Revenue Bond and the Student Housing Construction Project for NNMC. Vice-President of Finance Sanchez said instead--"It is still a work in progress.”

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[i] See Monument’s website at: http://www.monumentllc.net/about.html

[ii] Publicity and postcards distributed by NNMC Communications and Marketing:    http://nnmc.edu/gallery/student-housing-northern

[iii] More information at: https://www.rbccm.com/municipalfinance/cid-259461.html and   http://www.modrall.com/plf

[iv] All direct quotes that follow are from the May 22, 2014 Northern New Mexico College Board of Regents meeting (full audio and video recording available from the NNMC Study Group upon request).

[v] President Barceló’s full statement available at: http://205.166.231.30/wordpress/?p=13076


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    New Mexico Legislature on SB-603 NNMC Name Change Bill 

    Parts 1-8, featuring NNMC President Nancy "Rusty" Barcelo, VP Domingo Sanchez, VP Ricky Serna, and the Public Affairs Committee of the NM Senate.
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    NNMC Board of Regents Meeting, February 26th, 8:30am. NOTE: "Approval of Tuition Increase" on agenda. (Click image for full meeting agenda)

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