By Maura O'Keefe
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January 25, 2007
As students finalize living arrangements for the 2007-2008 academic year, those staying on Grounds can anticipate a significant increase in the cost of housing -- on average, University housing tenants will see a 9.6 percent hike in price.
The Board of Visitors Finance Committee recently approved the new student housing rates, which will cause students living in Brown College, the IRC and Gooch/Dillard to pay more than $4,000 for housing next year.
According to Richard Kovatch, assistant vice president for business operations, housing funds will support various housing costs and University projects.
"The increase is needed twofold, to cover [the] housing division's operating costs, including personnel, debt service, the debt we have to pay on our existing facilities, and to contribute to our replacement and renewal reserves, the funds we use to make improvements on facilities," Kovatch said.
Approximately half of the increase in housing costs will go to this housing improvement fund.