1.3 BENEFIT OF OWNERSHIP

In the context of drivers for change, barriers to change must
also be recognized. Selkirk College operates out of anumber
of facilities, some owned and some leased. These conditions
impact decisions on future development, and how best to

spend College funds.

OWNED PROPERTY

With ownership of buildings and site, Selkirk College has
a significant opportunity to dream and envision what the
location can support going into the future. The advantages
to ownership include:

1. Equity. Ownership stake in the property grows. This
equity can be used as collateral for future financing needs.

2. Appreciation. Property tends to appreciate or grow in
value with time. Although institutions do not typically
sell off their land, portions of a site can be sold to aid in
financing alternate endeavors.

3. Rental potential. As the owner of a property, one can
rent it out to other tenants. The rental income can serve
as a passive income stream. This is evident at the Silver
King Campus. Following the recent renovations, the
Carpentry Program moved to new accommodations,
allowing its old building to be leased out to a third-party

group.

4. Master Plan opportunities. With ownership of a
given Campus, Selkirk College can master plan the future
opportunities available at that site. This includes the
addition of buildings, zoning of the academic precincts,
etc. The College can invest in its locations, understanding
that the value they put into the location will be retained
by the College.

Of course, the cost of ownership places responsibility for all
the maintenance and upgrades of the facilities squarely on

the College’s shoulders.

SELKIRK COLLEGE - CAMPUS MASTER PLAN 2020-2035

LEASED PROPERTY

While Selkirk College does enjoy long-term leases in its current
locations, leasing does present limitations on the work that
the institution can and will undertake.

1. Limited Investment Opportunity. Monies invested
into leased properties will not be retained by the College
should the lease be abandoned or not renewed by the
property owner.

2. Administration. As the College is not the building or
land owner, change to buildings and the site must be
communicated and approved by the owner.

3. Lease Agreement. There is also ongoing administration
required to understand and maintain a lease agreement
that was often created and signed without the input of
the current College Leadership Team.

That said, there was and is reason and rationale for entering
into leases that can benefit both the College and the
land owner, typically the Town or Municipality within it is
functioning. This can vary from the creation of a strategic
partnership, availability of appropriate space to support the
required activities or a shorter-term commitment to meet
current needs.

Moving forward, Selkirk College recognizes the opportunities
afforded by property ownership. Currently, Selkirk College
has undertaken a business case to review the opportunity of
purchasing the Trail Campus.

Other opportunities will continually be reviewed as they

become available and lease terms come up for renewal.

1.4 THE CAMPUS VISION

A campus is more than a collection of teaching facilities.
It is a network of people, ideas, activities, information and
infrastructure. The vision of the Selkirk College Campus Master
Plan is fora compact, animated, active and sustainable campus
community. The plan articulates a vision for the College that
balances quality outdoor space, enhanced student space and
a focus on accessibility throughout to create a welcoming and

intimate campus experience.