Things to know before voting on the SLC/PAC extension

1. Students are contributing $24 million to the project, while the university is contributing $10 million. However, students will also be paying interest to the university over approximately 23 years at a rate of 3.3 per cent. This means students will pay approximately $10.7 million to the university in interest.<br />

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2. If both undergraduate students and graduate students approve the SLC/PAC extension, both undergraduate and graduate students will manage the building. If the project goes forward with the support of only the undergraduate students, the building will be managed by undergraduate students. The exact management model has not been released.<br />

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3. If undergraduate students are in favour of the extension but graduate students are not, the project may still go forward with alterations. The plan will only go back to referendum depending on the extent of the alterations.<br />

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4. The referendum question indicates that the student contribution to ongoing operating costs will be determined by a commitee made up of a majority of students, but policy dictates that this would actually be a recommendation. The UW Board of Governors sets all student fees.&nbsp;<br />

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5. According to the FAQs for the extension, if the referendum fails, &ldquo;the university will be unlikely to participate in discussions about a student building or expansion in the near future.&rdquo; Meaning if students want a new student building any time soon, it needs to be under the terms dictated in this referendum.&nbsp;