NVI Technical College Information

Executive Summary

Cornell Road, constructed in 2006; Building III (Automotive) located at 406 Cornell Road, built in 2003 having 58,109 ± square feet of RBA and Building IV (Collision, Trim, and Refinishing) at 408 Cornell Road, constructed in 2004 consisting of 57,609 ± square feet of RBA. The land area has

two contiguous parcels. The subject project is a nationally recognized vocational school that has been temporarily closed and to be restarted by

the management of the Company.

The management of the Company acquired the school for $14,800,000 including the real estate for the improvements, equipment and land for the

subject project real estate. Historically, WyoTech schools began in 1966 which operated the subject project facility starting in 2002 as a vocational

school offering Auto/Diesel Vehicle Technology, Automotive Technology with High Performance Power Trains, Automotive Technology with Trim

and Upholstery Technology, Collision/Refinishing and Upholstery Technology and Diesel/Auto Vehicle Technology.

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Historical Background

The WyoTech schools began in 1966 in Laramie Wyoming in automotive repair. The Blairsville site opened in 2002 and added Diesel and large

truck courses as well as specific construction courses such as HVAC repair. Large vocational school conglomerate Corinthian purchased the Laramie

and Blairsville schools in 2002 and opened a Daytona, Florida facility in 2004 as its motorcycle and marine school. After five years of growth and

profits from the vocation schools, Corinthian was forced by the US Government to stop recruiting new students starting in 2012 due to compliance

violations at some of its schools.

At the request of the US Government, ECMC acquired Corinthian ’ s portfolio of schools in 2015 and stabilized the schools but decided to phase out

the 3 WyoTech mechanical tech schools including Daytona and Blairsville since operating mechanical/technical vocational schools was not ECMC ’ s

core business. ECMC completed the government mandated “ teach out ” process through 2017 and 2018 and closed the schools in December of

2018.

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