NEWS BRIEFS
BY BEN THOMPSON AND ANDREWCHRISTMAN
Lone Star College System sets 2020 budget, tuition The Lone Star College System bud- get proposal for the - academic year, approved by the board of trust- ees Aug. , includes no tax increase. The budget includes a % increase in revenue and expenditures for the uni- versity, with a total of . million in projected revenue, Chief Financial Ocer Jennifer Mott said. Among the major revenue changes faculty members and budgeting for . million in increased adjunct faculty pay. “We estimate this will put us in the top three Gulf Coast colleges for adjunct pay,” Mott said. Public hearings on the budget will be held Sept. and before the adoption Oct. . Budget highlights
COMPANY FOOTPRINT Anadarko Petroleum Corp. was the largest private employer in The Woodlands area in 2019.
Its 1.37M -square-foot headquarters is located on Lake Robbins Drive on a 7.35-ACRE campus.
Anadarko EMPLOYED 3,600 local workers.
The company came to The Woodlands in 1999 .
The property is worth $206.28M.
Occidental acquires Anadarko in 55 billion deal Occidental Petroleum Corp. SOURCES:THEWOODLANDSAREAECONOMICDEVELOPMENTPARTNERSHIP,ANADARKOPETROLEUMCORP.,MONTGOMERY CENTRALAPPRAISALDISTRICT/COMMUNITY IMPACTNEWSPAPER
Occidental spokesperson Eric Moses said the company intends to maintain a presence at both the . million-square-foot former head- quarters of Anadarko in The Wood- lands and Occidental’s current home at Greenway Plaza in Houston “for the foreseeable future.” Gil Staley, chief executive ocer of The Woodlands Area Economic Devel- opment Partnership, said in July that a group of The Woodlands-area o- cials and community members had met with Hollub to discuss the future of Anadarko’s campus. Although no plans were made at that time, Staley said Hollub expressed the possibility that Occidental could sell the former Anadarko asset and then lease the space for its operations.
announced its nalized acquisition of Anadarko Petroleum Corp. on Aug. . The deal closed less than four months aer Chevron Corp. rst announced its intentions to acquire Anadarko, The Woodlands area’s largest private employer. The transaction was completed aer receiving more than % of votes at an Aug. Anadarko shareholder meeting, and it is valued at billion. “With Anadarko’s world-class asset portfolio now ocially part of Occi- dental, we begin our work to integrate our two companies and unlock the signicant value of this combination for shareholders,” Occidental Presi- dent and CEO Vicki Hollub said in an Aug. statement.
for the academic year beginning on Sept. are . million from an increase in tuition and fees and another estimated . million in increased property tax revenue. LSCS is also expecting .% student enroll- ment growth, which will account for . million in increased revenue, Mott said. The current tax rate is expected to remain at . per valuation, Mott said. Tuition costs will increase Sept. from to per credit hour, with the out-of-district fee increasing from to per credit hour and out-of- state and international fees increasing from to . Mott said the college is also adding
PROPOSED LSCS TUITION AND FEES Effective Sept. 1 Under the proposed budget, Lone Star College System will not increase its property tax rate for the 2019-20 academic year, but tuition fees will increase.
KEY:
increase per credit hour
$160
$130
$95 $105
$44 $49
In-district
Out-of-district
Out-of-state/ international
$8.3M TOTAL REVENUE INCREASE FROM TUITION IN 2019-20 BUDGET:
SOURCE:LONESTARCOLLEGESYSTEM/ COMMUNITY IMPACTNEWSPAPER
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The Woodlands edition • September 2019
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