Repository: UIHistories Project: Board of Trustees Minutes - 1986 [PAGE 180]

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1985]

UNIVERSITY OF ILLINOIS

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but not necessarily in a proportionate manner, by user constituency within the campus. T h e net effect would be to preserve variations in interest rates and construction costs between the two campuses. University-wide Option assigns incremental debt service and repair and replacement on housing projects to housing residents at both campuses and fee-supported projects to fee-payers at both campuses. Costs are assigned to each campus: (a) based on the square footage and months of occupancy for housing residents; and (b) based on the replacement value of facilities for fee-payers. T h e net effect would be to remove variations in interest rates and construction costs between the two campuses. Eclectic Option is similar to the campus-specific option except that it assigns all the savings related to the debt restructuring and "window" financing to the Chicago housing project. T h e net effect would be to subsidize the Chicago housing expansion. A number of individuals from campus organizations had asked to speak. President Shepherd, who chaired the meeting, requested that remarks be limited to five or ten minutes by each person. (Copies of statements from most of the individuals had been received by the board in advance of the hearing.) Thomas W. Beckham, vice chancellor for student affairs at the Chicago campus, reviewed the background of the student housing project in Chicago. Others who spoke were: James Simon, chairman of the Urbana-Champaign Senate Council, who presented a supplementary document offering an alternative proposal for funding the project; John Wanat of the Senate Executive Committee, Chicago, who submitted information and emphasized support for the University-wide approach, at least on a one-time basis; David Edquist of the Student Government Association, Urbana-Champaign campus, who asked whether sufficient investigation of private sources for funding had been made, and who stated that the "eclectic" proposal deserved consideration (believing that students feared most a University-wide fee increase for students in University housing); David Starrett of the Student Government Association, Chicago campus, who favored University-wide support if private funding were insufficient; and Kathy Grezlak of Panhellenic at Urbana, who spoke against financial support of the project by Urbana students. Following adjournment for luncheon, the committee reconvened for further discussion. T h e president and other trustees expressed the view that private support of the project was unlikely in view of the recent Campaign for Illinois. T h e Board of Trustees reconvened in regular session at 3:00 p.m. MINUTES APPROVED T h e secretary presented for approval the press proof of the minutes of the Board of Trustees meeting of November 15, 1984, copies of which had previously been sent to the board.