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This is a fair concern, and one the CUS Board of Directors discussed at length. Since the completion of the building effects Sauder’s accreditation and worldwide rankings, this issue pertains to students who benefit from the building, and to those who graduate before its completion to become alumni. To provide a fair representation then of students who feel the effect immediately (through the fee) and those who will be effected in the greater business world we believe it is best to give all years a chance to vote.
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This is a student fee to be collected by your student society and gifted to the school for the specific purpose of paying the building mortgage in return for the improved facilities we will receive. It is not part of tuition paid to UBC.
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Students would only pay for the building once construction has been completed. Estimated project completion is scheduled for September 2012.
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$500 per year per student. This fee would be indexed to inflation. Any money collected over and above the $500 per year will go directly to fund maintenance and technology upgrades for our building.
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Student money would be used to pay down the mortgage that will be incurred to complete our building. Each year, the fee will grow with inflation and this will ensure there are funds to continue to maintain the building for future generations of students who will pay the fee.
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The building renewal project was started only after students agreed to fund approximately 1/3rd of the costs. To continue to develop the Sauder School of Business, we need to finish the project we have started. It affects both our reputation and our student experience. Current and future donors also need to see that students are supportive of the project they agree to fund.
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Phase I is completed, but Phase II is needed for the 2nd, 3rd, and 4th floor classroom areas, as well as the current David Lam Library. Phase I funding was secured due to a student referendum in 2006 where students approved this building fee with 75% in favour. It signaled the building project had student support and encouraged alumni and the business community to help us.
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This building fee is separate from and in addition to the tuition and student activity fees that you currently pay.
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