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Bachelor of Commerce (Digital Marketing) - Postsecondary ...

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E. Capital Projects (Policy D-12)<br />

E.2 Capital Projects (cont’d)<br />

(vii) Centre for Advanced Manufacturing - An economic summit hosted by the<br />

London Economic Development Corporation in September 2009 identified the<br />

importance <strong>of</strong> advanced manufacturing and the role <strong>of</strong> the Western University<br />

(WU) and Fanshawe College to London’s future economy. This summit led the City<br />

<strong>of</strong> London to invite both WU and Fanshawe to join the City in a joint venture<br />

partnership for the purpose <strong>of</strong> developing Phase 4 <strong>of</strong> the Innovation Park, located<br />

on the northeast corner <strong>of</strong> the Veterans Memorial Parkway and Bradley Avenue<br />

intersection, into the Advanced Manufacturing Park. The City has donated and<br />

agreed to transfer approximately four hectares (ten acres) to Fanshawe, and<br />

eleven hectares (28 acres) to WU for the purpose <strong>of</strong> continuing their research<br />

efforts and creating incubator facilities relating to advanced manufacturing through<br />

substantial site development within the next fifteen years. This partnership<br />

between the College, the City and WU will bring integrated research and training<br />

facilities together with leading edge manufacturing facilities creating new<br />

opportunities in “green” technology in the City and region. In 2010 the College and<br />

WU concluded a joint campus master planning exercise for the two properties and<br />

installation <strong>of</strong> site services are underway. Costs associated with these initial site<br />

planning activities will be absorbed within this capital plan. Specific Fanshawe<br />

College uses for this site have not as yet been identified. Development on this<br />

property is considered a longer-term initiative. However, there have been recent<br />

conversations between Western University and the College regarding possible joint<br />

projects on this site.<br />

(viii) Aerospace Canada International (Phase 2) - It is anticipated that to fully develop<br />

facilities for aviation programming a further investment will be needed. Details are<br />

yet to be refined.<br />

(ix)<br />

Wellness/Fitness Centre - The College and the Fanshawe Student Union have<br />

been exploring the concept <strong>of</strong> developing an expanded wellness and fitness centre<br />

on the London campus. Preliminary investigations are underway. This is a longerterm<br />

project with significant funding anticipated from student fees.<br />

E.3 Significant Assumptions and Management <strong>of</strong> Risks<br />

Significant Assumptions and Management <strong>of</strong> Risks<br />

Whenever renovations are undertaken on existing spaces there is always the risk <strong>of</strong> cost<br />

overruns resulting from unknown factors that may be found behind existing walls and ceilings.<br />

To mitigate this risk, each Capital Plan project cost estimate contains a contingency amount that<br />

would be used should the need arise. Often the contingency is not fully required and can be<br />

redirected to other projects having costs that exceed initial estimates.<br />

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