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FMCC asks court for permission to sell dorms | The Daily Gazette
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FULTON & MONTGOMERY COUNTIES Only 11 years after borrowing $11.3 million to double the size of student housing at Fultom-Montgomery Community College, the student housing arm of the college Friday petitioned state Supreme Court in Fulton County for permission to sell all three of its dormitory buildings to Amsterdam-based Dan Vann Properties for $1.1 million.
The sale of the three dorms represents a complete reversal of the strategy college officials had envisioned for its growth 11 years ago when it borrowed $11.3 million from the U.S. Department of Agriculture for the purpose of purchasing and upgrading the 1980s-vintage Fulton Hall and Montgomery Hall for $4 million from the Massachusetts-based private company that owned them and building from scratch the $7.1 million, 144-bed, co-educational Raider Hall dorm opened in 2012.