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Housing Resolution

University Senate

Proposed: February 1, 2008
Adopted: February 1, 2008

RESOLUTION TO DEVELOP A POLICY FOR ALLOCATING OF RENTAL INCOME

WHEREAS it is the Committee on Housing Policy’s mandate to “review and recommend policies relating to housing provided to University students, faculty and other employees, including those pertaining to rent or occupancy charges, the assignment of housing..,” and

WHEREAS the administration has not made public any long–term financial plan for university housing, and

WHEREAS the Housing Committee has been provided with financial data with regards to University Housing but not a corresponding policy, and

WHEREAS the appropriate use of rental income versus other financial sources to fund the capital expenditures of university housing has not been examined, and

WHEREAS the University raised rents by 5% in 2006-7 and again in 2007-8 with projected increases of similar amounts at least until 2010 thereby outpacing inflation, and

WHEREAS the cumulative rental increases will undermine the University’s efforts toward the retention and recruitment of faculty and students,

THEREFORE BE IT RESOLVED that the University Senate calls on the administration to develop a policy that addresses the need to cover capital expenses without reliance on escalating rental income; and,

BE IT FURTHER RESOLVED that the University Senate calls on the administration to report its formal policy to the Housing Committee by April 1, 2008 after which time the Housing Committee will report to the University Senate at its next plenary; and,

BE IT FINALLY RESOLVED that in the event that the University does not report on its policy by April 1, 2008, that rental increases for FY2008/2009 should be capped at a level defined by the consumer price index for urban areas (CPIU) averaged over the period 2002-2007.

Proponent: Housing Policy Committee