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Newby Wing Delay
29/03/2010 18:45
Some students have enquired of the method of funding any compensation payments that may be sought. The answer is as follows. The contract the College has with the builder, Mojo is for $5,454,000. The budgeted cost of this together with fees of architects and other consultants, fitout and demolition is $6,200,000. The costs of compensation will be treated as a variation to the building contract. Compensation payments will not come out of the College’s general revenue, but from the pool of funds for the Stage 2 development contributed to by David Newby ($1.7M for this purpose (and more than $2M over the past three years), Sir Rod Eddington ($100,000), other Georgian donors and The University of Western Australia. The outgoing of all funds needs to be carefully recorded.
Please note: Inconveniences caused by the storm of Monday 22 March 2010 are not addressed in this document.
John Inverarity
Warden
26 March 2010
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