Dear Undergraduate Student,
Voting for the Sauder Building Referendum 2010 is now open. The referendum question students will be voting on is the following:
Do you support the Sauder Building Renewal Project with the associated $500 annual Building Renewal Student Fee commencing in September 2012, as described in the Memorandum of Understanding?
Sauder Building Renewal Project Memorandum of Understanding
I support the proposal to increase student fees by $500 per year beginning at the earliest September 2012 in support of the Sauder School of Business building renewal project. I understand that:
- The annual student building renewal fee of $500 will be the same for international students, domestic students, and students away on exchange. Students will not pay the fee during any academic terms while on co-op placement.
- No student will pay the fee before completion of the building renewal project, by earliest September 2012.
- The fee will be indexed to inflation based on the BC Consumer Price Index (CPI) to ensure equity in real contributions over time and to ensure future renovation and renewal of the School facilities and equipment.
- Revenue from the fee will only be used to make payments on a mortgage and ensure building and facilities continue to be updated into the future. The fee will support a mortgage of approximately $20 million. Inflationary increases in the fee will be set aside in a discrete fund that will only be used with student consultation for the purpose of updating and renewing the facility. The fee will remain in effect for the duration of the mortgage of approximately 35 years.
- When the mortgage is paid in full or after the 35 year amortization period, whichever comes first, the building renewal student fee will expire.
- Consistent with existing University policy, no student will be prevented from attending the Sauder School of Business purely on the basis of financial need. The building renewal student fee will be included in financial need calculations.
- Students will have formal input into Phase II building design through representation on a building user committee.
Voting begins on March 11th and ends on March 12th at 11:59pm.
The official voting link is: https://secure.sauder.ubc.ca/CUSReferendum2010/
For more information, please contact Niki Babic, Elections Officer, at firstname.lastname@example.org