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Trustee Meeting Coverage

In addition to approving the undergraduate tuition, fees and other charges for the coming year (see tables), the Trustees also stated that graduate and professional school tuition will be determined administratively to reflect the budget requirements of the various schools and part-time tuition and fee rates will increase proportionately. The general fee for graduate students will be $1,750 and the general fee for professional school students will be $1,382.

Hill Square, the area known formerly known as Hill Field east on 34 St. to Walnut Street, will have the same standards as College Green. There will be new lighting and trees with granite benches along the walkway. A sculpture by Jenny Holzer will be installed commemorating 125 Years of Women at Penn. Olin Partnership is the landscape architect on this project.

The Annenberg Plaza will receive an upgrade with funding from the Annenberg Foundation. Planned upgrades include handicap access to the Annenberg Center, new granite paving, and additional landscaping to soften the appearance. The project is expected to begin this summer with a completion date of the fall of 2003.

The Trustees passed a resolution to engage ARAMARK to provide residential, retail, kosher and catering related food services to the University. The initial term of the agreement is for two years with four two-year renewal periods for a potential total term of ten years.

Design and construction for the installation of sprinkler systems in Meyer Hall will proceed and include addressable fire alarms and local smoke detection systems. The project is estimated to cost $1.2 million.

Redevelopment of the Hajoca Building at 3025 Walnut Street will be handled by Dranoff Properties, Inc. The $15 million redevelopment of the building will enable WXPN to lease approximately 16,400 square feet of the building for a term of 15 years with two five year renewal terms. Additionally there will be approximately 17,000 rentable square feet of space for use as a restaurant and live performance venue to be operated by the Real Entertainment Group, Inc., to be known as "World Café Live."

It was reported that the total net assets for the entire University decreased by 2.4% to $5.0 billion, principally due to a net loss on investments both realized and unrealized. The total endowment for the academic component of the University decreased from $2.841 billion as of June 30 last year to $2.729 billion.

On the Health Services side the overall utilization remained strong with adult inpatient admissions increasing 3.2% over a seven-month period. Total net assets have decreased by 5.7% since June 30, 2002.


  Almanac, Vol. 49, No. 26, March 25, 2003