The state's trouble-plagued Fire Science Academy in Carlin won't reopen until the Board of Regents approves funding to cover cost overruns.
Regents on Monday will attend an emergency meeting to decide whether to commit money to correct flaws in the original design and construction of the academy.
The fire academy, operated by the University of Nevada, Reno, opened in 1999 to low enrollment, which was blamed on its remote location in north-central Nevada. The biggest blow came one year later when soil at the site was found to be contaminated with gasoline additives. The academy was closed and the university defaulted on $230,000-a month loan payments.
Regents aren't sure where the money would come from.
"Where are we going to get the revenue from? Are we going to open a lemonade stand?" said Regent Steve Sisolak. "This has just been obstacle after obstacle and cost after cost, and I don't know how we're going to keep doing this."
Regents bailed out the academy last month by approving the sale of $31 million in revenue bonds. The money paid off a court-ordered judgment against UNR.
A portion of the $31 million bond issue was earmarked for construction, but more money is needed, said Jane Nichols, chancellor of the University and Community System of Nevada.
Nichols said it wasn't known how much more is needed to complete construction.
UNR President John Lilley announced last month that the academy would open with a debt burden of $5.4 million, the result of construction and personnel costs.
If the Fire Science Academy can attract 2,000 students, it will generate an estimated $1.5 million in income, officials say.
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