Resolution of Concern (Not Opposition) from Chemistry

The Department of Chemistry communicates the following serious concerns regarding the "NYU 2031" plan:
  1. We do not understand how NYU 2031 will enhance NYU's mission. We understand that space is tight, but we expect to understand planned programs requiring major investments before they are initiated.
  2. We do not understand how this project will be financed, and the impact and risks of debt that would be assumed. We fear that this project may dominate NYU's financial resources for a long period of time, and may prevent pursuit of other priorities.
  3. We are concerned that the added buildings will diminish our ability to recruit top faculty due to the reduced quality of available faculty housing.

We ask that the administration work directly with faculty governance bodies, as partners, to reconsider the current plan so as to fully address these concerns and provide justifications for why the current plan is the appropriate priority for the university. Furthermore, we request that financing details of this specific plan (e.g., the estimate of cost, the possible streams of revenue and savings, the impact on the operating budget and debt, etc.) be made available.