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The item below containing 10 questions on the Faculty Center issue was circulated by UCLA communications. Here is an 11th question: Can it be said that in the midst of a major budget crisis, UCLA’s top priority is to build a hotel/conference center whose downside financial risk in one way or another will be assumed by the campus? 10 Questions: Scott Waugh on the residential conference center and faculty club project UCLA is planning a residential conference center featuring 33,000 square feet of meeting and conference space and 282 hotel rooms. Project plans also include a new faculty club with…

Below is an official “demand narrative” related to the proposed hotel/conference center that is the replace the existing Faculty Center. Center members are currently balloting on whether this project should be approved or not. The document in its original form can be found at http://www.senate.ucla.edu/documents/ProposedConferenceCenterDemandNarrative_Morabito-7Mar2011.pdf It is reproduced here in full because it is labeled “draft” and it is useful to preserve the initial language. The narrative does not directly address two issues: Downside risk. All forecasting is done with error. It seems unlikely – if the projections of revenue do not pan out – that UCLA would let this…