RATE AND FEE ADJUSTMENTS. The University’s residence halls rates and fees are approved annually by the University’s Board of Trustees. If your housing registration and contract are submitted prior to the Board of Trustees’ annual approval, your housing rates and fees are subject to change based on the rates and fees approved by the Board of Trustees.
RATE AND FEE ADJUSTMENTS. The Storage Rates and Excess Storage Fees are fixed from the Execution Date to, and including, December 31, 2014, and will be adjusted each January 1 thereafter (an “Indexing Date”) by a percentage equal to 90% of the change in the published Federal Consumer Price Index (i.e., the entry of “All items for Urban Wage Earners and Clerical Workers”) over the first twelve (12) of the fifteen (15) months preceding the Indexing Date. This adjustment procedure will continue during the Initial Term of this Agreement for each Terminal Facility and any and all Renewal Terms; provided, however, that in no event will the applicable rates (i) increase or decrease by more than 3% on any Indexing Date and (ii) be less than the rates established as of the Effective Date. All Ancillary and Additive Services Fees will be fixed from the Execution Date to and including December 31, 2014 and will be adjusted each January 1 thereafter by Terminal to reflect Terminal’s average annual percentage cost increase or decrease of such product(s) and services.
RATE AND FEE ADJUSTMENTS. Finally, the extralegislative, antidemocratic system by which parties create concession agreements undermines efficient outcomes because it disincentivizes optimal adjustments to the rates and fees charged by concessionaires, pushing government officials either away from approving necessary adjustments or toward allowing any proposed increase. Concessionaires in certain areas, such as infrastructure, service, or goods provision, predominately recuperate their investment through income from rates charged to consumers (for example, road tolls or utility rates). Additionally, the government may initially supplement the concessionaire’s income with a monetary or resource payment to help cover start-up costs or incentivize investment.60 As a result of this arrangement, when the concessionaire fails to turn a profit, or fails to reach a projected income margin, it will push for an increase in the rates or the government support.61 In extraordinary circumstances or when terms of the concession agreement limit rate increases, concessionaires will push to renegotiate the contract
