Senate discusses financing options for new Union

Chief Budget Officer Richard Roberts stressed that student fees were not at the top of the list to fund the project. Roberts said if students approve the fee in a referendum, the projected fee would be about $50 per semester.

"Whatever we do here, we need to do it well," he said. "I work from the idea that this university and this structure will be here for the next 100 years."

Roberts outlined several funding options including the sale of university owned land for immediate cash, the possibility of a long-term beverage contract, and contributions from alumni. He also noted the availability of academic bonds and faculty and staff fees.

To do the job right, Roberts said, the price for renovations is estimated at $60 million.

The university would be taking a loan for the amount not covered by cash contributed up front, and payments would be made semi-annually for 20 years.

"With interest, you get the unenviable privilege of paying for something twice," Roberts said. Over 20 years, Roberts estimated the actual payments would be close to $110 million.

"We should work to do this in a partnership so students don't carry the full load of debt service," he said.

This was the first official discussion of the Union for some Senate members. But Roberts urged them to speak with him about anything they wanted to know regarding the project.

Senator Leslie Hunter said she was in favor of an improved Union, though the cost was surprising.

"I know it's going to be hard because it is a lot of money, but it is so needed," she said.

Senator Cisco Aguilar said he was hesitant to endorse the project if students bore the major portion of the cost.

"I think a new Union is definitely needed and it would be good for the university's image, but I don't think a large fee is fair to the students," he said.

In other business, the Senate approved UA Police Department Lt. Brian Seastone as an ex-officio member of the Senate, though Senators Morgan Long and Mary Peterson were absent for the vote.

Last spring, the Senate approved a new constitution, which included the creation of this appointed position.

ASUA President Gilbert Davidson said Seastone has been involved with ASUA for a number of years.

"I think he will bring a lot of insight to ASUA," he said.

Senate members also voted against renewing their membership in the National Association of Students for Higher Education, a national student lobbying group.