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

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New SUB Improvements Derek Moore

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Page 1: 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

New SUB Improvements

Derek Moore

Page 2: 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

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

Page 3: 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

Introduction

• Brief History– Financing Agreements

• Current Stance– Scope– Renovation Contingency

Page 4: 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

The Ask

$3.5 million scope$1.9 loan increase to students

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

Page 5: 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

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

Page 6: 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

Why?

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

Page 7: 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

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

Page 8: 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

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.”

Page 9: 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