Most housing rates at the University of Kentucky will rise about 3.5 percent next fall, a Board of Trustees finance committee decided Tuesday.
Housing and dining rates are usually approved in June with the annual budget, but since UK has a contract with a private housing developer, officials know in advance how much rates will go up because the increases are written in the contract.
“We are asking for approval a little earlier than normal ... trying to communicate and tell our families and prospective students a better expectation of what the cost will be to come to the university,” said Eric Monday, vice president of finance of administration.
Rates will go up 1.8 percent in dorms that were built in 2005, which are not as fancy as the 12 built by EdR since then. Rates for those dorms will go up 3.5 percent. For example, the price of staying in a four-bedroom suite will go from $3,634 per semester to $3,761.
EdR is currently building two more dorms — the Lewis Honors College across from W.T. Young Library and University Flats graduate housing on University Drive — that will open next August.
The cost of Greek housing will also go up 3.5 percent.
Dining rates will go up between 3.2 percent and 4.8 percent. There are six different dining plans, based on the number of times students use the plan. All students who live in residence halls are required to buy a dining plan. Dining is also provided by a private partner, Aramark.
More details can be found at www.uky.edu/housing/.
The finance committee also approved UK’s purchase of the University Inn Hotel on the corner of Nicholasville and Waller Avenue to create more office space for UK HealthCare.
“This is a cost-effective way to create 62,000 feet” of office space, Monday said.
Trustee Lee Blonder asked about where the families of UK HealthCare patients would stay, since the hotel is the closest to UK’s hospitals. Monday said there are several new hotels in the area, on both Virginia Avenue and further down Nicholasville Road.
“It’s in our interest to serve our patients and their families,” Monday said. “I trust Dr. (Michael) Karpf and his team are working aggressively to meet that need.”
The finance committee also approved a new quasi-endowment fund in honor of Lexington civil rights advocate and UK dietetics professor Abby Marlatt. Despite harassment by UK officials in the 1960s over her civil rights work and Vietnam War protests, Marlatt left her estate to UK. It will be used to establish the Abby Marlatt Dietetics and Human Nutrition Community Outreach Fund.
The committee’s actions were later approved by the full UK Board of Trustees without comment.