County would only sponsor proposed loan; no county money would be involved
Fairfield Daily Ledger, Mar. 24, 2003
By Matt Mullenneaux, Ledger staff writer
A campus extension project near Vedic City will create more than 100 new jobs for Fairfield residents, according to Maharishi University of Management officials. David Todt and Kurt Kleinschnitz of M.U.M. met with the Jefferson County Board of Supervisors today to address concerns about the impact the project would have on the county.
At the March 10 supervisors meeting, the university requested the county sponsor a portion of the $14 million loan to fund the project. Todt again emphasized the county wouldn’t be liable for the loan or required to contribute any funding.
“We’re not asking the county to put any money in on it,” Todt said. “We’re just asking you to work with us so we can get the loan at tax exempt status.”
M.U.M. plans to build six dormitories to house 1,600 Vedic pandits, which are students ages 18 years and older who have been trained in M.U.M.- affiliate schools in India. The pandits would obtain temporary student visas in order to complete a one- to two-year study program.
The board inquired as to the purpose of placing the dorms in the Vedic City area as opposed to the existing M.U.M. campus. Supervisor Dick Reed suggested removing Utopia Park to create space to build the dorms, and asked whether or not the university would be doing additional expansion projects in the future.
“Do you see this as just the tip of the iceberg?” Reed asked. “Are we looking at a larger development somewhere down the road?”