EKB News

WEST VIRGINIA....
Lottery revenue generates approximately $170 million per year for the state of West Virginia. During the July 15 meeting of the West Virginia Economic Development Authority, 45 projects were approved to receive revenue from the West Virginia Lottery that will be used to finance about $150 million in capital improvements for state colleges, state buildings and state parks. Sixty percent of the bond money is designated for higher education facilities, and the remaining 40 percent is divided between state buildings and state parks. The bonding program provides up to $10 million per year for the next 30 years. Other lottery allocations include $18 million to the School Building Authority and $5 million for the state’s community and technical colleges in addition to the $10 million approved for the WVEDA Lottery Revenue Bonds. Of the $100.2 million approved for higher education projects, the largest allocation of $23 million will be used for renovation of West Virginia University’s White Hall. The funding includes $30 million for 11 projects at the state Capitol, Culture Center and other buildings at the complex in Charleston.