What the University Could do

The $140,000 sitting in the Union Building Fund will be used in about 3-4 years on the proposed Tower Block. At present however it is only earning about 3% interest per annum. This money could be used to finance the purchase of houses around Kelburn for the purpose of student accommodation.

Because of the low interest rate which the money is currently earning, the rents charged on these houses would be very low as compared with buildings financed by a first mortgage (8%). I would like to see this idea brought up at Council and the idea actioned if possible.

As a closing note, if you're a reformed land speculator and you want to sell a few houses cheap to purge your conscience—we might be interested.