Rowan-Cabarrus Community College signed a lease Wednesday for a state-of-the-art, $26 million facility at the N.C. Research Campus.

Ray Paradowski, chairman of the RCCC board of trustees, and Dr. Carol Spalding, college president, signed the lease agreement. Steven Mersch, vice president for campus developer Castle & Cooke North Carolina, also signed.

Castle & Cooke will now complete a loan application and submit it, college spokesman Jeff Lowrance said. The lender will have 15 business days after receiving the application to lock in an interest rate, Lowrance said.

After repeated delays due to the economic downturn, Castle & Cooke should start construction of the 62,000-square-foot building this spring. It could open in time for RCCC’s fall 2010 semester.

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