IDENTIFICACION Y VALORACIÓN DE AMENAZAS

RESOLVED, the faculty and staff housing rates are approved, as shown below, effective July 1, 2015. Should a property be vacated during the year, the Executive Vice President and Chief Operating Officer or his designee is authorized to increase the rates to market level.

Utilities Furnished Rents 2014-2015 Per Month Amount of Increase Percent of Increase Rents 2015-2016 Per Month Utilities Paid By Occupant Piedmont Estates Properties

1 Bedroom Apt. (7)(F) AC,C,D,E,G,T,WS $740 $30 4.05% $770 V 2 Bedroom Apt. (16) AC,C,D,E,G,T,WS $885 $35 3.95% $920 V Houses (3BR) (16) C,D,E,G,HVAC,T,WS $1,285 $40 3.11% $1,325 V Townhouses (3BR)(5) C,D,E,G,HVAC,T,WS $1,180 $45 3.81% $1,225 V Farmhouse Apt. 1 & 3 (1BR)(F) AC,C,D,E,G,T,WS $785 $30 3.82% $815 V Farmhouse Apt. 2 (3BR)(F) AC,C,D,E,G,T,WS $1,125 $25 2.22% $1,150 V Farmhouse Apt. 4 (2BR)(F) AC,C,D,E,G,T,WS $945 $30 3.17% $975 V

Utilities Furnished Rents 2014-2015 Per Month Amount of Increase Percent of Increase Rents 2015-2016 Per Month Utilities Paid By Occupant Sundry Properties

Vyssotsky Cottage (3BR) AC,C,D,E,G,T,WS $1,235 $35 2.83% $1,270 V McGuffey Cottage (Eff)(F) AC,C,D,E,T,V,WS $640 $20 3.13% $660 Upper Mews (1BR)(F) AC,C,D,E,HP,T,WS $825 $25 3.03% $850 V Lower Mews (1BR)(F) AC,C,D,E,HP,T,WS $800 $25 3.13% $825 V Monroe Hill Range (1BR) C,D,E,HVAC,T,V,WS $1,100 $15 1.36% $1,115 Brown College Apts. (2BR)(2) C,D,E,HVAC,T,V,WS $865 $20 2.31% $885 Hereford Coll. Apts.(2BR)(2) C,D,E,HVAC,T,V,WS $960 $20 2.08% $980 Hereford Coll. Principal Res.

(3BR) C,D,E,HVAC,T,V,WS $1,500 $30 2.00% $1,530 Orchard House Rooms(5)(F) AC,C,D,E,G,T,WS $545 $15 2.75% $560 V 118 Oakhurst, Upper (2BR) AC,C,D,E,G,T,WS $960 $30 3.13% $990 V 118 Oakhurst, Lower (2BR) AC,C,D,E,G,T,WS $1,070 $30 2.80% $1,100 V 424 Shea House (1BR) C,D,E,G,HVAC,T,V,WS $880 $20 2.27% $900 423 Shea House (2BR) C,D,E,G,HVAC,T,V,WS $1,015 $25 2.46% $1,040 Hedge House (2BR) AC,C,D,E,G,T,WS $965 $25 2.59% $990 V

E & G Properties

Montebello (3BR) AC,D,E,G,V,WS $1,370 $50 3.65% $1,420 C,T Big Morea (4BR) AC,D,E,G,T,V,WS $1,335 $60 4.49% $1,395 C Little Morea (2BR) AC,D,E,G,T,V,WS $1,055 $45 4.27% $1,100 C Sunnyside (3BR) AC,E,O,T,WS $1,930 $60 3.11% $1,990 C,D,V Monroe Hill House(3BR) D,E,HVAC,T,V,WS $1,440 $45 3.13% $1,485 C Weedon House (6BR) D,E,HVAC,T,V,WS $3,100 $90 2.90% $3,190 C Morven Guest House (5BR)(F) D,E,G,HVAC,T,WS $2,885 $85 2.95% $2,970 C,V Pavilion I (3BR) D,E,HVAC,T,V,WS $1,710 $50 2.92% $1,760 C Pavilion II (3BR) D,E,HVAC,T,V,WS $1,500 $65 4.33% $1,565 C Pavilion III (3BR) D,E,HVAC,T,V,WS $1,390 $50 3.60% $1,440 C

Utilities Furnished Rents 2014-2015 Per Month Amount of Increase Percent of Increase Rents 2015-2016 Per Month Utilities Paid By Occupant E & G Properties (Continued)

Pavilion IV (3BR) AC,D,E,HP,T,V,WS $1,105 $40 3.62% $1,145 C Pavilion V (5BR) D,E,HVAC,T,V,WS $1,835 $55 3.00% $1,890 C Pavilion VI (4BR) D,E,HVAC,T,V,WS $1,445 $55 3.81% $1,500 C Pavilion VIII Upper (3BR) D,E,HVAC,T,V,WS $960 $40 4.17% $1,000 C Pavilion VIII Lower (1BR) D,E,HVAC,T,V,WS $685 $20 2.92% $705 C Pavilion IX (3BR) D,E,HVAC,T,V,WS $1,390 $50 3.60% $1,440 C Pavilion X (4BR) D,E,HVAC,T,V,WS $2,040 $60 2.94% $2,100 C

Notes:

- The (F) designates properties that are furnished.

- Utility abbreviations are as follows: AC (window air conditioning), C (cable TV), D (data), E (electric), G (gas), HP (heating plant), HVAC (heating, ventilation & air conditioning), O (oil), T (trash), V (voice) and WS (water, sewer).

UNIVERSITY OF VIRGINIA

BOARD OF VISITORS AGENDA ITEM SUMMARY

BOARD MEETING: March 24, 2015

COMMITTEE: Finance

AGENDA ITEM: I.C.2. Student Housing Rates, 2015-2016

BACKGROUND: The University’s Office of Housing and Residence Life manages 6,892 on-Grounds beds in a variety of traditional, apartment, suite, and program-specific accommodations, serving first year, upper-class, and graduate students. The fall 2014 occupancy was 98%. Approximately 42% of undergraduate students were housed on-Grounds. The University’s College at Wise

manages 763 beds, offering traditional, apartment, and suite arrangements. Housing approximately 38% of full-time enrolled students; the fall 2014 occupancy rate was 76%.

DISCUSSION: For 2014-2015, the average double room rate at Virginia public colleges and universities is $5,475. The

comparable average at the University is $5,492. The University of Virginia’s College at Wise charges an average of $6,211.

The University proposes a $189 increase in the average housing double room rate to $5,681 per nine-month academic year for 2015-2016. This increase is approximately 3.4%. Individual rate increases range from 1.9% to 3.9%.

The rate proposal will cover increases in salaries and fringe benefits, including the hiring of two additional staff, and rising operating costs, which include primarily utilities. The proposal will also support the 24% increase in debt service expense for the sixth Alderman Road residence hall opening fall 2015.

The University of Virginia’s College at Wise proposes a $67 decrease in the average housing room rate to $6,144 for 2015- 2016. The proposed housing rates for most residence halls will increase by 3.5% to cover operating costs and build capital reserves. However, Henson Hall occupancy has been adversely impacted this year by nearby construction on the new library. The 2015-2016 rental rate will decrease by 25% to encourage students to utilize Henson Hall until construction is completed in mid-2017.

The proposed resolution also addresses summer 2016 housing rates for the Mountain Lake Biological Station.

ACTION REQUIRED: Approval by the Finance Committee and by the Board of Visitors

STUDENT HOUSING RATES FOR 2015-2016 FOR THE ACADEMIC DIVISION AND THE