KENTUCKY STATE UNIVERSITY BOARD OF REGENTS
DATE:August 5, 2020
SUBJECT:Approve Revision to Contract with Capital Plaza Hotel
FROM:FINANCE AND ADMINISTRATION
ACTION ITEM:YES
BACKGROUND: The execution and approval of this contract is necessary to ensure that Kentucky State University will have capacity to house students should on-campus housing not be available due to social distancing required by COVID-19.
SUMMARY OF PROGRAMS/ACTIVITIES: The Office of Administration and Finance is hereby submitting the attached contract for approval by the Kentucky State University Board of Regents.
Capital Plaza Hotel Contract
ALIGNMENT WITH STRATEGIC GOALS:
Goal 3: Increase the University's Financial Strength and Operational Efficiency.
PROGRAM IMPLICATIONS: N/A
FISCAL IMPLICATIONS: The total cost to the University to house up to 250 students for Fall Semester 2020 at Capital Plaza Hotel at an expense not to exceed $614,656. At full capacity the University can generate an additional $1,611,680 in gross revenue.
RECOMMENDATION: The Kentucky State University Board of Regents approve up to the total amount listed in the contract with Capital Plaza Hotel.
ATTACHMENTS: YES