In 2008, Gillette and the Northern Wyoming Community College District /Gillette College (the College) approved an MOU for the financing and construction of student housing units. As the College grows, the need for housing has grown as well and now discussions have been held concerning the financing of additional student housing. A new MOU has been drafted to outline the terms of this agreement, in which the City will finance the construction of a Dormitory on property to the South of the existing student housing. The City will be responsible for 83% of the cost of the project and the College will be responsible for 17%, roughly the same payment ratio used for the previous student housing. The estimated project cost is $12,500,000. The parties anticipate that the project will be begun in 2015 and be financed over 10 years through the sale of lease participation certificates. Gillette will pay a lease on the dormitory to service the construction debt, in much the same way as it paid for the existing student housing.This MOU represents the first step in the project and will be followed by detailed design work and financing documents.