The Board of Visitors Finance Committee met Thursday, approving renovations for McCormick Road residence areas, Gooch-Dillard residence areas and Clemons Library. The committee also discussed the renewal of the University’s contract with dining provider Aramark. Colette Sheehy, the vice president for management and budget, said the McCormick Road renovations would be extensive. “We would renovate all of the interior — systems, electrical, mechanical [and] plumbing,” Sheehy said. “[In addition] we would put air conditioning in, put elevators in, [and] put in some more common lounge space.” Sheehy said the University considered tearing down the McCormick Road dormitories, but it did not turn out to be financially feasible. Sheehy said the Gooch-Dillard residence area renovations would be similar in range to those in McCormick, and would also involve updating the electrical, mechanical and plumbing system. “We would [also] be knocking out a wall of single room and create a double room,” Sheehy said. The McCormick Road renovations are estimated to cost about $95 million, while the Gooch-Dillard renovations will cost about $32 million. The Committee approved both projects, but did not set a date for the start of construction. The University will also modify the second floor of Clemons Library to place both advising and academic services together. After 5 p.m., the second floor of Clemons will still function as a general library. The total project will cost between $3.2 and $4 million. Additionally, the Finance Committee discussed the future implications of the Aramark contract. Executive Vice President Pat Hogan said the contract would benefit the University community and “provide variety” to those using dining services. “Aramark is committed to working closely with sustainability, and they have agreed to provide $70 million upfront to the University,” Hogan said. “The income from this will help fund strategic and other initiatives important to students and the University. We expect to have the $70 million in hand certainly by the end of the calendar year.” The new Aramark contract will last 20 years. Aramark has pledged to devote $20 million to the improvement of dining facilities while committing to using more local ingredients and increase sustainability initiatives.