Monday, July 19, 2010 The Michigan Daily - michigandaily.com 17 ENDOWMENT From Page 1 the endowment for perpetuity," Darlow said. "I suspect that for many people struggling under the economic conditions prevailing in this country and state today, per- petuity sounds like an awfully long time." Regent Olivia Maynard (D- Goodrich) said she believes the lower distribution rate will help ensure the long-term stability of the University's endowment. "This is a way to maintain, with minimal net damage, the value of the University," Maynard said. "Perpetu- ity is a large word, but on the other hand, we believe in public higher education and we want to make sure it thrives, no matter what the situa- tion is." In an interview following the regents meeting, University Presi- dent Mary Sue Coleman said she appreciated the debate the regents had over changing the payout. "Obviously I was very much in favor of it because my administra- tion made the recommendation, but I understand that people have legiti- mate differences," Coleman said. "I have faith that our folks will be very careful; they want to make sure that nobody gets less money from one year to the next. I felt like it was the prudent thingto do and I appreciated the discussion." Currently, the total endowment value is determined using a sev- en-year rolling average, which is recalculated at the end of each fis- cal quarter. The spending policy replaced a three-year rolling average in 2006 to help stabilize payouts in volatile markets. REGENTS APPROVE CON- STRUCTION SCHEMATICS The regents also unanimously approved designs for the renovations of Crisler Arena, the new golf prac- tice facility and the addition to the Institute of Social Research build- ing. The $20 million renovations to Crisler Arena will make the building compliant with the American with Disabilities Act by increasing the number of handicapped accessible seating, replacing the seats in the lower bowl and widening the aisles in the lower bowl. The renovations will also improve the arena's emergency systems with new fire detection and suppression systems, smoke evacuation system and emergency lighting. A proposed schematic design for the Athletic Department's new golf practice facility, to be located on South Main Street near the Univer- sity Golf Course, was also approved at the meeting. The new facility will allow the men's and women's golf teams to train year-round with indoor driving bays, putting greens and chipping areas. Additionally, the facility will include office space, meeting rooms and locker rooms. Women's golf coach Cheryl Stacy said in a statement that the $2.5 mil- lion facility will enhance the com- petitiveness of the University's golf program. "This facility will enhance our program's ability to practice dur- ing the winter months, providing an environment for our players to con- tinually work on their technique," Stacy said. Regents also approved a design proposal for the ISR addition, which will consist of a four level, 44,700 gross square foot addition to the cur- rent ISR building and renovations of 7,200 gross square feet of the current building. The $23 million project will cre- ate new office, research and meeting spaces as well as state-of-the-art bio- specimen and data storage. - Daily News Editor Kyle Swan- son contributed to this report. DPS From Page 1 mittee, which is also comprised of faculty and staff representatives. Hicks, who removed himself from the race before the votes were cast, remained on the ballot. Hicks did not respond to interview requests, but in an interview with The Michigan Daily last March, he said he withdrew from the race because of a "hectic schedule," which was com- prised of classes and a 40-hour-per- week internship with United States Rep. John Dingell (D-Ann Arbor). Hicks' name remained on the bal- lot as a result of miscommunication between MSA election officials and the candidate, officials told the Daily last spring. Despite his withdrawal from the contest, Hicks told the Daily last March thatifelected hewould accept the seat on the committee. However, he also said he wasn't fully knowl- edgeable on what his responsibilities as a representative would be, or what the function of the committee was. "As far of the details, I'm not quite sure," he said at the time. In an e-mail interview, MSA Presi- dent Chris Armstrongsaid Hicks will start work on the committee as soon as possible. "Deandre is away for the summer, but as soon as he returns, he will be attending the next DPS Oversight Committee meeting to officially replace Ellie," Armstrong wrote in the e-mail. In an e-mail interview with the Daily, Howe wrote that her resigna- tion was a result of other conflicting priorities. "I was taking summer classes, working, and trying to plan an afford- able trip to Europe," Howe wrote. "It was a very overwhelming and stress- ful time and I felt in over my head. "It would have been possible to stay on, and sometimes I wish I had, but I realized that when your family needs you, there are some things you have to give up," Howe added. "So I made the difficult decision to leave, and the committee was very under- standing." 5 5 at MichiganDaily.com Tally Hall talks to the Daily before coming home to A2 for Thursday show. An inside look on the work of Art Fair's featured artist Mark Traughber. I I I a _, _ _ n ' 1 , The Ypsilanti Community Band is now the Washtenaw Community Concert Band 'Welcoming musicians looking for a true concert band experience s Washtenaw Community College In partnership with Washtenaw Community College, earn 2 credits by enrolling in MUS 112 Find out more about the class by visiting www.wccnet.edu For more information on the band call 734-252-9221 or e-mail atypsicommband@gmail.com I I