Press Releases
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- 07-22-2008Corps, NOAA Deploy 'Smart Buoy' in Chesapeake Bay
- 07-16-2008Lake Drummond Reservation reopens; Dismal Swamp Canal to reduce lock openings to 2 per day
- 06-13-2008Lake Drummond, Reservation temporarily closes due to wildfire threat
- 06-02-2008FNOD Advisory Board Meeting
News
Fort Jackson Residential Communities Initiative
November 6 , 2008
By Patrick Bloodgood
Norfolk District Public Affairs
FORT JACKSON, Sc. — Even in the midst of a volatile financial market, the Fort Jackson, S.C. Residential Communities Initiative project has successfully reached a financial closing.
The project boasts $103.5 million in bonds at an all-in interest rate of 7.05%, and consists of 610 new homes as well as 240 additional renovated and repaired homes.
"It is a great success that the project was able to close with the desired scope for the Soldiers and families of Fort Jackson," said Todd Hunter, a transaction manager for the Office of the Deputy Assistant Secretary of the Army (Energy and Privatization, Installation and Environment), in an e-mail sent to the RCI team.
Residential Communities Initiative or RCI is the Army's multi-billion dollar privatization program that, since 2001, has profoundly changed the face of Army Family Housing.
Balfour Beatty plc and the RCI team at Fort Jackson will hold a meeting with the post garrison commander to discuss the way forward and officially begin the 50-year partnership.