Wartburg College

Waverly, IA

Wartburg College, a small liberal arts college in a small rural town, wanted a new athletic/recreational facility as soon as possible (estimated at $20 to $30 million), but the college believed it would need another 10 years before it could be financed.

Our solution created a mutually beneficial (and legally and financially appropriate) affiliation of private and public entities.

Goals

Create a new college facility as quickly as possible.

Challenges

The college had no funds for the project and estimated it would need 10 years to finance a new facility, plus its debt rating was at the lowest investment grade. And the college limited any solution to use no fund raising, no tuition increase, no tax referendum.

Results

New $30 million facility completed in three years, the largest and most sophisticated for any Division III college in the U.S.