Residence Rates Increase and Louis Riel House Report

It was reported by Finance and Administration Committee chair David Poole that for 2016 and 2017 the monthly residence fees will be raised by 2.1 per cent.The university conducted a market analysis that looked at factors such as the location and condition of units to help arrive at this number. Noted Poole, “This is line with market rates and The British Columbia Residential Tenancy Act that has set the allowable rent increase for that period as inflation, plus two per cent.”

Later on in the meeting, the August closure of the Louis Riel House residence was discussed in VP Academic Jon Driver’s report to the board. Said Driver, “I have not heard any concerns expressed since the formal closure of that building, so I think that people are satisfied with what we did, even if they’re not particularly happy.”

President Andrew Petter added later on that UniverCity may be considering the development of low-end market rental housing that “would be built with needs of graduate students and students with families in mind.”

Fossil Fuel Divestment

In the report from the Responsible Investment Committee, which just had its third meeting, it was noted that the last session featured a presentation by Raj Chatterjee and Leena Hasan of SFU 350, a student group devoted to advocating for the university to divest from fossil fuels.

The presentation prompted “robust discussion” in the committee and included information such as a history of the divestment movement. Concerns were expressed about shareholder engagement as a strategy by the group and using a negative screening strategy was instead encouraged by SFU 350.

Petter noted that no decisions were made at this session: “This information was taken to help inform the committee’s ongoing deliberations to better understand what the [strategies] are, so at future meeting we may be in a better position to consider some options to make recommendations back to the board.”