UCF is considering about $5.4 million in housing refunds, according to records obtained by Knight News.
The topic of refunds come after students were advised not to return to campus after spring break due to threats of the coronavirus. UCF began its remote learning methods on March 16.
Although the records are not finalized, the draft of the Board of Trustees committee agenda lists the alternative to the decision as finding a different source for the fund.
The recommended action is to use approximately $5.4 million in E&G carryforward funds to refund students in university-owned housing, Towers, and Rosen facilities for March 30 – April 28.
The record states the university’s current business interruption policies will not cover a loss of revenue related to COVID-19.
The Florida Board of Governors — which oversees the 12 schools in the State University System — encouraged “each state university to develop a plan for providing a refund, rebate, or credit to students who may no longer be able to utilize their university residence hall and/or dining plan contracts,” according to public records obtained by Knight News.
University Owned Housing:
- Apollo Community
- Hercules Community
- Lake Claire Community
- Libra Community
- Neptune Community
- Nike Community
The draft document states for housing owned and managed by the university, UCF plans to refund a portion of the Spring semester housing charges.
Towers & Rosen:
For Towers and Rosen College Apartments, the university may be required to refund a portion of the Spring semester’s housing charges, according to the draft document.
The records state the university is contractually obligated to cover debt service for these two properties should they be unable to do so themselves.
Northview & UnionWest:
For other facilities managed by, but not owned by, the university —Northview and UnionWest — the owner will be responsible for any refunds to students, according to the draft agenda obtained by Knight News.
“We are communicating with these partners so that they are aware of the refunds planned for students in university-owned housing,” the draft agenda reads.
Knight News requested public records following UCF’s silence on the topic.
UCF spokesman Chad Binette said the Board of Trustees will meet later this week to finalize the plans.
“We understand the financial stress and uncertainty COVID-19 has caused so many of our students and their families,” Binette said. “We also have been involved in discussions with the Board of Governors about how to best approach refunds as a State University System.”
Binette said when decisions are reached, the university will share this information with students.
This is a developing story. Check back for updates.