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
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