Board Approves Housing Rates for Fiscal 2009
The Pennsylvania College of Technology Board of Directors on Thursday approved Residence Life rates for Fiscal Year 2009 and authorized the issuance of the 2007 bond series, which earmarks $53 million for construction/renovation projects (including new student housing) and $71 million for refinancing of previous college bonds.
The Residence Life rates reflect an increase of less than 5 percent for all apartment styles over Fiscal Year 2008.
By apartment style, the rates are: RA roommate in efficiency, $2,000; one-bedroom (four-person) apartment, $2,000; efficiency (two-person) apartment, $2,250; two-bedroom (four-person) apartment, $2,550; two-bedroom super suite (as triple), $1,925; one-bedroom (two-person) apartment, $2,675; single efficiency, $3,300; one-semester December graduate, $2,775; and triple assignments, $1,825.
Summer-student rates will rise to $110/week (from $108/week). Other Residence Life rates remain unchanged for Fiscal 2009: Residence Life Activity Fee, $18/semester; per-night charge/excess of contract, $20/night; fire-hazard fee, $50/incident; and impaired-student holding fee, $100/visit.
Summer-conference rates remain the same for Fiscal 2009: double occupancy in bedroom, $20/night; single occupancy in bedroom, $35/night; and single occupancy in apartment, $60/night.
The board's authorization regarding the bond series gives the college administration the flexibility to wait up to six months for the issuance of the bonds − in order to secure more favorable interest rates in the market, College President Davie Jane Gilmour said. The board's previous bond-series authorization (in October) did not specify a time frame, so the administration decided to bring the new resolution to the board.
Gilmour presented business cards to Veronica M. Muzic, retired vice president for academic affairs/provost, who was previously approved for emerita status by the board. Muzic only learned of the emerita honor on Thursday.
Because of the weather conditions, seven board members participated in the meeting via telephone conference call. A presentation on the college's audited financial statements was postponed until February.