university of waterloo board of governors building ... · 10.03.2017 · 6. real estate holdings...

University of Waterloo

Board of Governors

BUILDING & PROPERTIES COMMITTEE

Notice of Meeting

Date: Friday, 10 March 2017

Time: 1:00-3:00 p.m.

Place: Needles Hall, Room 3043

*material attached

OPEN SESSION Action

1. Declaration of Conflicts of Interest

2. Minutes of the 20 January 2017 Meeting* (Gamble)

3. Business Arising from the Minutes

(a) Updated Work Plan Execution Plan* (Gamble)

4. Capital Financing Commitments and Construction Status (Huber)

(a) Building & Properties Finance Summary - March 2017*

(b) Construction Status Report – March 2017*

(c) Capital Financing Commitments – April 30, 2016*

5. Student Life Centre/Physical Activities Complex Addition

Tender Award (Huber)

6. Other Business

7. Next Meeting: Friday 19 May 2017, 1:00-3:00 p.m., NH 3043

Declaration

Decision

Information

Information

Decision

2 March 2017 Nadia Singh, Associate University Secretary

Secretary to the Committee

Building & Properties Committee, 10 March 2017 - of 12

CONFIDENTIAL SESSION




11. Other Business

Declaration

Decision




IN-CAMERA SESSION




15. Committee Self-Assessment Survey*

16. Other Business

Declaration

Decision

Discussion/Complete





Board of Governors


Minutes of the 20 January 2017 Meeting

[in Agenda order]

Present: Catherine Booth*, Robert Bruce*, Tara Collington, Murray Gamble, Chris Lolas

* by telephone

Administration: Dennis Huber, Ian Orchard

Guests: Harry Bakker (4), Dan Parent, Alice Raynard (4)

Secretariat: Mel Knox, Nadia Singh

Regrets: Martha George**, Michael Stork**

**electronic votes received prior to meeting date

Organization of Meeting: Murray Gamble, chair of the committee, took the chair, and Nadia Singh,

secretary of the committee, acted as secretary.

The chair welcomed members to the meeting. The agenda was approved by consensus as circulated.

OPEN SESSION

1. DECLARATION OF CONFLICTS OF INTEREST

No conflicts of interest were declared.

2. MINUTES OF THE 21 NOVEMBER 2016 MEETING

The committee heard a motion to approve the minutes of the meeting as distributed.

Lolas and Collington. Carried.

3. BUSINESS ARISING FROM THE MINUTES

There was no business arising from the minutes.

4. STATUTORY COMPLIANCE

Raynard provided an overview of the Report. She indicated that no issues of material non-compliance

were raised with the exception of one area of non-compliance identified by the Director of Safety, which

has since been corrected, and one area of non-compliance identified by the Executive Director of

Facilities, which Plant Operations has been working diligently towards correcting in consultation with the

City of Waterloo.

5. CAPITAL FINANCING COMMITMENTS AND CONSTRUCTION STATUS

a) BUILDING & PROPERTIES FINANCE SUMMARY JANUARY 2017

Huber presented the Building & Properties Finance Summary to the committee, including an update on

the status of payments on the Blackberry buildings, the student residence and Engineering 7. He noted

that the potential debt related to the Field House project was included in the summary. Members

discussed the University’s credit rating and rough estimates of the cost of the debt to the University.


b) CONSTRUCTION STATUS REPORT – JANUARY 2017

Huber presented the Construction Status Report and noted that the Report reflects the projects in progress,

and includes the proposed Field House project.

c) CAPITAL FINANCING COMMITMENTS – APRIL 30, 2016

Huber provided an overview of the document and noted the University’s continued commitment to the

protection of green spaces.

6. REAL ESTATE HOLDINGS LIST – DECEMBER 1, 2016

Huber provided the committee with the list of University of Waterloo Real Estate Holdings, including

sites owned by the University and sites leased by the University.

7. RECOMMENDATION – FIELD HOUSE

a) REPORT TO THE BUILDING & PROPERTIES COMMITTEE

Orchard provided the committee with background information on the project. He noted that the project is

being proposed in light of student feedback requesting more student activity space. Orchard noted that

the space is being designed with future expansion and development in mind.

The committee heard a motion to recommend to the Board of Governors the design and construction of

the $15 million Field House facility to be located north of varsity field and designed by Walter Fedy

(Architects).

One member expressed concerns over the current infrastructure of the Columbia Icefields, noting that the

infrastructure will become more strained with the development of the Field House. In response it was

noted that the planning and development of the Field House will take this into account, but this issue may

have to be addressed in a separate plan. There have been no specific discussions on this topic, or on

future funding. Members were in support of the design plan supporting future growth. Members

discussed the funding of operating costs and were told that this funding will be discussed in the future.

Collington and Lolas. Carried.

b) FIELD HOUSE SITE PLAN

Provided for information.

8. COMMITTEE TERMS OF REFERENCE

The committee reviewed its terms of reference. No changes were deemed necessary. The committee

heard a motion to make no modification to its terms of reference.


9. COMMITTEE WORK PLAN

Gamble gave an overview of the work plan. The committee heard a motion to approve its work plan for

2017/2018.


10. COMMITTEE WORK PLAN EXECUTION PLAN

The committee received the work plan execution plan for information. Singh will expand the work plan

for 2017/2018 year for the information of committee at the next meeting.


11. OTHER BUSINESS

There was no other business.

12. NEXT MEETING:

The committee is scheduled to meet on Friday, 10 March 2017, 1:00 p.m. to 3:00 p.m., Needles Hall,

Room 3043.

The committee convened in confidential session.

23 January 2017 Nadia Singh

Associate University Secretary



1 March 2017

Task Frequency 16/01/15 16/03/11 16/05/20 16/11/21 17/01/20 17/03/10 17/05/19 17/10/13 18/01/19 18/03/09

Campus Master Plan (as

needed)

annuall l l

Capital financing

commitments and

construction status

each

meeting l l l l l l l l l l

Committee self-assessment

survey results

annuall l l

Environmental

sustainability practices

annuall l l

Maintenance program and

energy conservation efforts

annual

l l l

Orientation/tour of campus as requiredl l

Development projects five-

year plan l l

Committee terms of

reference

annuall l l l

Statutory compliance annual l l l

University of Waterloo real

estate holdings

annuall l l

Committee work

plan/special topics;

orientation/briefing

requirements

annual

l l l


Board of Governors


Work Plan Execution


Report to the Building & Properties Committee

Capital Financing Commitments

March 2017

The Building & Properties Committee reviews the summary of Capital Financing Commitments at each

meeting.

Highlights during fiscal 2016/17:

- Year-to-date, the University has paid down approximately $8.1m of the debt related to the

acquisition of the 5 BlackBerry buildings

- Approximately $1.5m of the externally financed debt for the student residences will be

retired by April 30, 2017

- Approximately $3m of the unfunded balance on the recently completed HH In-Fill project

will be funded by the Faculty of Arts’ graduate growth funding from the Province

- $10.25m of the $20.5m vendor-take-back mortgage for the BlackBerry buildings was retired

in February 2017 and has been internally financed

- The $15m Field House project will be funded with operating funds and will be financed over

10 years or less (increases the University’s total financing exposure by ~5%)

- The University remains well within its approved policy limits and below the 4.0% maximum

for principal and interest payments

- The financing position for each project as of April 30, 2016 is attached

Dennis Huber


Construction Status Report

Mar-17

$000s

Original Current Procurement percent Original Estimated

Projects Budget Approved Budget Method Contractor complete Schedule Completion Risks/Status

In-Progress

Student Residence 47,500 47,500 design/build Melloul Blamey 81% summer 2017 summer 2017 main structure complete; mechanical/electrical and interior finishes ongoing

Engineering 7 88,000 88,000 lump sum Ellis Don 50% Summer 2018 Summer 2018 curtain wall and mechanical/electrical ongoing; interior fit out underway

SLC/PAC Addition 34,000 34,000 lump sum TBD 0% Summer 2018 tenders close March 1

North Campus Field House 15,000 15,000 lump sum TBD 0% Fall 2018 in design

184,500 184,500



Capital Financing Commitments

April 2016

($000s)Planned Lease Currently Estimated

Capital Completion Total Funding Externally Lease-Back Internally Amortization

Project Date Budget Available Financed Financing Financed Period Comments

Completed

Residence 18,983 11 years recovery through student residence feesResidence - Reids Townhouses 22,000 37 years minimum $6 million lease commitments; recovery through student residence feesEngineering 5 and 6 and DWE Renovations 19,871 $3.7 million in pledges; Student Endowment $0.14 million; faculty operating fundsHealth Services Addition/Renovations 5,862 < 12 years compulsory undergrad and grad student fees; donationsFederation Hall Renovations 1,509 3-4 years Food Services annual operating surplusesBlackberry Buildings (5) 20,500 10,799 7 years operating fundsScience Expansion Building 11,787 $10 million in pledges; faculty operating funds

Completed Total 39,483 22,000 49,828 111,311

Funding Status

Total Funding Committed Future Currently

Budget On-hand Funding Unfunded

In-Progress

Applied Health Sciences Addition 2016 18,639 11,527 - 7,112 faculty operating funds; donationsHagey Hall- Courtyard Infill 2016 8,350 4,922 200 3,228 faculty operating funds; donations; grad capital; $.2 million from Arts Student EndowmentStudent Residence 2017 47,500 15,000 32,500 30 years residence feesEngineering 7 2018 88,000 3,490 76,229 8,281 $33.6 in pledges; $10 million operating funds; faculty operating fundsStudent Life Centre and PAC Addition 2018 34,000 - 34,000 $24 million compulsory undergrad and grad student fees; $10 million operating funds In-Progress Total 196,489 34,939 142,929 18,621 161,550

Debt policy: Annual P&I < 4% of annual gross revenueTotal 272,861 $273 million debt P&I payments =2.8% of gross revenue



Board of Governors



[in Agenda order]

CONFIDENTIAL SESSION

The confidential minutes have been removed.

23 January 2017

Nadia Singh





Board of Governors



[in Agenda order]

IN-CAMERA SESSION

The in-camera minutes have been removed.

23 January 2017

Nadia Singh




university of waterloo board of governors building ... · 10.03.2017 · 6. real estate holdings...

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