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New SUB Improvements

New SUB Improvements. Derek Moore. Outcomes. Approve New SUB Committee Motion

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New SUB Improvements

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  1. New SUB Improvements Derek Moore

  2. Outcomes • 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.” • Inform

  3. Introduction • Brief History • Financing Agreements • Current Stance • Scope • Renovation Contingency

  4. The Ask $3.5 million scope $1.9 loan increase to students $0.8 increase in down payment $0.8 saved on construction financing

  5. 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

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

  7. Items

  8. Questions? Outcomes Issue History Amount Finance 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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