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The CUS is considering expanding the purpose of the Renovation Fund to enable a $1.2 million contribution towards the construction of the Powerhouse Expansion Project. Once the Powerhouse building is completed, Sauder will be able to increase BCom student spaces.
The 2024/2025 CUS referendum presents students with an opportunity to shape the future of student spaces at UBC Sauder. The referendum seeks approval to:
The 658.40 building fee you see on workday is comprised of two building-related fees which are collected as one. $500 goes towards the repayment of the mortgage on the Henry Angus renovations agreed upon in 2010, which has now been repaid. The other $158.40 is a renovation fee which went into a separate account called the Renovation Fund.
The funding for this initiative originates from two primary sources:
1. For the refund/credit: Commerce Student Building Fee
- Originally collected to repay a $20 million loan for the Henry Angus Building renovation.
- With the loan fully repaid, a balance of funds remains.
2. Proposed Annual Renovation Fee
- A newly proposed $40 annual fee, replacing the previous $158.40 fee, ensures continued investment in student spaces without placing undue financial strain on students.
- Indexed to inflation (BC CPI) to maintain its long-term value and relevance.
In 2010, students voted to approve a fee to contribute $20 million toward the renovation of the Henry Angus Building. This fee was collected for two purposes:
The loan has now been fully repaid, and the authorization for continued fee collection has expired. This referendum aims to determine the best use of the Renovation Fund while ensuring sustainable funding for future student needs.
There is a unique opportunity to secure dedicated spaces for BCom students in the new Powerhouse Expansion, which aligns with the school's growth and evolving student needs. If this opportunity is not acted upon now:
By acting now, students can take advantage of this opportunity to enhance their learning environment and strengthen the BCom community.
By voting "Yes," students will:
Students who paid the Commerce Student Building Fee during the Summer 2024, Winter Term 1 (WT1), and Winter Term 2 (WT2) of the current academic year will receive a direct refund of $658.40. Graduating students can request a payout, provided they have no outstanding fees, while returning students will have their credit applied to any outstanding balances or carried forward to the upcoming school year.
The CUS is proposing to allocate $1.2 million from the Renovation Fund to the UBC Sauder School of Business to help fund the Powerhouse Expansion Project. Once the Powerhouse building is completed, Sauder will be able to increase BCom student spaces ensuring that the funds directly benefit students both now and in the future.
The proposed $40 annual fee represents a net decrease from the previous $158.40 fee that students were previously paying. This amount was determined based on projected future needs for maintaining and improving BCom student spaces. The reduced fee will provide sustainable funding for enhancements such as social spaces, study areas, and technological upgrades while ensuring that students contribute to the upkeep of facilities in a manageable and affordable way.
Students planned to gain access to the newly allocated spaces starting in Fall 2027. These spaces are expected to include:
If the referendum passes, the new $40 annual renovation fee will take effect starting in September 2026. This fee will be indexed to the BC Consumer Price Index (CPI) to ensure fairness and adaptability over time. Students will see the charge on their tuition statements beginning in the 2026/2027 academic year.
If the referendum does not pass, students will still receive a refund of the overpaid Commerce Student Building Fee, as the CUS has committed to returning these funds. However, without approval, the opportunity to secure dedicated student spaces in the Powerhouse Expansion and Henry Angus Building will be lost. Additionally, the proposed $40 annual renovation fee will not be implemented, which means there will be no sustainable funding source for future upgrades and improvements to BCom student spaces. This could result in fewer enhancements to student facilities and limit the ability to address future space needs.