new sub improvements derek moore. outcomes 1.approve new sub committee motion – “be it resolved...
TRANSCRIPT
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New SUB Improvements
Derek Moore
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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
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Introduction
• Brief History– Financing Agreements
• Current Stance– Scope– Renovation Contingency
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The Ask
$3.5 million scope$1.9 loan increase to students
$0.8 increase in down payment$0.8 saved on construction financing
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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
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Why?
• Art Installations• Operational Efficiencies• Collaborative AMS Offices• Brewpub -> Entrepreneur Centre• Re-Imagined Pit PUB and Perch• Sustainability Demonstration
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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
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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.”
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