The Board of Governors at Trent University approved a revised capital development strategy today that will build on the university's current Master Plan and guide the university's capital programs to the year 2007.

Key features of the updated plan include:

• Keeping and adapting the Otonabee College residence space for future use
• Lengthening the time to retain Catharine Parr Traill College to 2007, with a plan for the Board to review the college relocation decision in 2006, following an assessment of enrolment growth against the institutional plan, government funding and institutional finances at that time
• A commitment by the university to own, operate and finance the new residential college facility
• An enhanced conference operation associated with the new facility with revenue generating capacity
• The removal of $12-million of deferred maintenance liabilities (currently a $32 million plus liability)
• A reduction of current operating expenditures by $240,000

As part of the capital development strategy, the relocation of the faculty and academic activities at Peter Robinson College to Catharine Parr Traill College and the Symons campus was completed in 2001. At Peter Robinson College the townhouse complex now contains a relocated college office and student space that will continue as the transitional Peter Robinson College facility until new buildings are complete. Negotiations for the sale of the Peter Robinson College properties continue including the intent to lease back the townhouse complex through 2004.