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Wednesday, January 19, 2011

Regents Approve UCLA Student Housing Construction Project

The Regents meetings are audio-streamed. Sadly, as pointed out previously on this blogsite, they are not archived. Yours truly cannot record them all and post them since he has other activities and responsibilities. If there is a good reason why Regents meetings cannot be audio-archived, I have yet to hear it.

I did hear, but not record, a bit of yesterday's Regents meeting at which a construction project for UCLA was among the items approved. The Regents approved the project - replacement and expansion of various student apartment houses near campus. For the proposal, see http://www.universityofcalifornia.edu/regents/regmeet/jan11/gb2a.pdf However, they did so after assurances that they would not be responsible for debt service on the projects.

The debt service is ultimately the responsibility of UCLA. UCLA has a housing entity that maintains and finances student housing and it is expected the projects will not ultimately tax the general revenues of the campus, i.e., the entity is self financing. However, UCLA would be responsible ultimately - and would certainly take responsibility - should some financial mishap occur. It has been noted - in connection with other campus capital projects - that the Great Recession has reduced construction costs.

One of the two apartment houses due for replacement under this plan is shown above (from Google maps).

UPDATE: Daily Bruin story on this approval is at http://www.dailybruin.com/index.php/article/2011/01/uc_board_of_regents_approves_57_million_project_to_replace_two_outdated_north_village_apartment_comp

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