new sub improvements derek moore. outcomes 1.approve new sub committee motion – “be it resolved...

New SUB Improvements

Derek Moore

Outcomes

1. Approve New SUB Committee Motion– “BE IT RESOLVED THAT Council direct that the

budget for the New SUB Project be increased from $103.26 million to $106.76 million, and direct the President and the VP Administration to ask the University to amend the financing agreements to reflect this.”

2. Inform

Introduction

• Brief History– Financing Agreements

• Current Stance– Scope– Renovation Contingency

The Ask

$3.5 million scope$1.9 loan increase to students

$0.8 increase in down payment$0.8 saved on construction financing

Solution

• Increase AMS Capital Contribution by $3.5m– How?

• Δ Student Enrolment

– Impact• Books: Less on UBC Loan, None on AMS Operating, Increase

for Students Overall• Repayment Term: Shorter by 8 years

– For sure?• Projected/Confirmed by: AMS, UBC Treasury• Supported by UBC Executives• Pending BoG

Why?

• Art Installations• Operational Efficiencies• Collaborative AMS Offices• Brewpub -> Entrepreneur Centre• Re-Imagined Pit PUB and Perch• Sustainability Demonstration

Items

Item Amount

Architectural improvements $800,000

Mechanical & Electrical upgrades $500,000

Business Efficiency Improvements $230,000

Small wares $600,000

Club improvements $50,000

Entrepreneur Centre $200,000

Sustainability monitoring system $25,000

Art projects $110,000

Vermicomposting $15,000

Bio-digestor $45,000

People counters for business analytics $50,000

AMS Contingency $75,000

Increase Project Contingency $800,000

Total $3,500,000

Questions?

OutcomesIssue History

AmountFinance Solution

The List

“BE IT RESOLVED THAT Council direct that the budget for the New SUB Project be increased from $103.26 million to $106.76 million, and direct the President and the VP Administration to ask the University to amend the financing agreements to reflect this.”