January 31, 2018

MEMORANDUM

TO: The Executive Committee of the Board of Visitors:

Frank M. Conner III, Chair

James B. Murray Jr., Vice Chair

L. D. Britt, M.D.

Whittington W. Clement

Barbara J. Fried

John A. Griffin

Babur B. Lateef, M.D.

John G. Macfarlane III, Advisor

and

The Remaining Members of the Board:

Robert M. Blue Tammy S. Murphy

Mark T. Bowles James V. Reyes

Elizabeth M. Cranwell Jeffery C. Walker

Thomas A. DePasquale Bryanna F. Miller

Robert D. Hardie Margaret F. Riley

Maurice A. Jones

FROM: Susan G. Harris

SUBJECT: Minutes of the Executive Committee Meeting on January 31, 2018

The Executive Committee of the Board of Visitors of the University of Virginia met, in Open Session, at 1:50 p.m. on Wednesday, January 31, 2018, in Ednam Hall at the Boar’s Head Inn. Frank M. Conner III, Chair, presided.

Present: James B. Murray Jr., Whittington W. Clement, and Barbara J. Fried.

Absent: L. D. Britt, M.D., John A. Griffin, Babur B. Lateef, M.D., and John G. Macfarlane III.

Robert D. Hardie and Bryanna F. Miller were also present.

Present as well were Teresa A. Sullivan, Patrick D. Hogan, Thomas C. Katsouleas, Richard P. Shannon, M.D., Jonathan D Bowen, Susan G. Harris, David W. Martel, Debra D. Rinker, Colette Sheehy, Pamela H. Sellers, and Alice J. Raucher.

Mr. Conner opened the meeting and gave the floor to Mr. Katsouleas.

Action Item: New Degree Program: Master of Science in Business Analytics in the McIntire School of Commerce in partnership with the Darden School of Business

Mr. Katsouleas provided the background information for this new degree program.

On motion, the committee approved the following resolution:

DEGREE PROGRAM: MASTER OF SCIENCE (M.S.) IN BUSINESS ANALYTICS IN THE MCINTIRE SCHOOL OF COMMERCE

RESOLVED, subject to approval by the State Council of Higher Education for Virginia, the Master of Science in Business Analytics is established in the McIntire School of Commerce, in partnership with the Darden School of Business.

RESOLVED FURTHER, an annual tuition and fee rate of $59,900 for in-state and out-of-state students in the Master of Science in Business Analytics is approved.

Action Item: Capital Project Financial Plan: Carr’s Hill Historic Rehabilitation

Mr. Hogan said the Carr’s Hill Rehabilitation project is in the 2017 Multi-Year Capital Plan. This action requests approval of the financial plan for the rehabilitation of the main house. Its estimated cost is $7.88 million, which will be funded with cash. The budget is $3.7million for mechanical, electrical, plumbing, and life safety upgrades; $1.7 million for structural repairs; $860,000 for repairs to the exterior envelop; $850,000 for interior repairs; and $800,000 for restoration of historic features. The rector asked about the pricing. Ms. Sheehy said this is an estimate; the project has yet to be bid by contractors. The rector said the project has been in development for a long time and will be done now because the house is vacant due to the presidential transition.

On motion, the committee approved the following resolution:

CAPITAL PROJECT FINANCING PLAN: CARR’S HILL HISTORIC REHABILITATION

WHEREAS, the financing plan for the historic rehabilitation of Carr’s Hill calls for the use of cash in the amount of $7.88 million;

RESOLVED, the Board of Visitors approves the financial plan for the historic rehabilitation of Carr’s Hill.

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The chair adjourned the meeting at 1:58 p.m.

SGH:wtl

These minutes have been posted to the University of Virginia Board of Visitors website. http://www.virginia.edu/bov/executivecommitteeminutes.html