DOWNTOWN STUDENT FACILITY TRUST                             08 February 2004

      MINUTES OF THE SEVENTEENTH MEETING OF DOWNTOWN STUDENT TRUST
      held on 08 February 2004 at 11am at Traill College JCR London Street,
      Peterborough, Ontario.

P R E S E N T: Marisa Barnhart, Catherine Dickinson, John K Muir,
               Matt Naylor. and Fraser Smith

Also Present: Derrick McIntosh, Steward.

Notice of this Meeting having been made to all the Trustees, and quorum of
the Trustees being present in person, the Meeting was declared duly
constituted and called to order at 11:20 a.m., with Catherine Dickinson
acting as Chair and John Muir acting as Secretary.

01 The Chair made some opening remarks and discussion followed.

02 The minutes from the previous meeting was presented.

UPON A MOTION duly made seconded and carried unanimously the Minutes of the
Trust meetings held on 23 January 2004 were approved as presented and
amended..

03.  Steward's Report:
Derrick McIntosh presented the Steward's report, (see attached). Discussion
followed.  It was noted that a further $60,000 to $100,000 in financing
should be procured to fund the property purchase, as well as upgrades and
operations to the year-end.

UPON A MOTION duly made seconded and carried unanimously, the Steward's
report was accepted as presented.

UPON A MOTION duly made seconded and carried unanimously, the executive of
the Trust is authorised to execute the closing of purchase for 751 George
Street with title to be set in the name of the corporation to be
incorporated.

It was noted that City of Peterborough severance approval may not be completed
by the closing date, and that although this does represent some form of risk,
it is not a significant risk, and closing shall proceed.  In addition the
Steward was request to verify the closing date.

04.  Current Financial Position & Financial Statements
The finanial statements for the Trust for the period ending 31 December 2003,
as prepared by the Bookkeeper, were presented.

A statement showing the financial position of the Trust as at 06 February
2004, as prepared by the Secretary/Treasurer was presented.

UPON A MOTION duly made seconded and carried unanimously, the financial
statements were accepted as presented.

05.  Application for Incorporation:  By-laws, Applicants, Objectives
The Trustees instructed the Steward to ask that a NUANS search be undertaken
for the name "P R Community and Student Association", and that this name be
used for the corporation to be incorporated rather than "P R Student and
Community Association".

UPON A MOTION duly made seconded and carried unanimously, the proposed by-laws
for the corporation to be incorporated were approved.

It was noted that if any Trustee felt that there was an egregious error in
the draft by-laws, they would communicate this to the Chair, on or before
Wednesday, 11 February 2004 at Noon.

06.  Next Meeting with Student Groups; Space Allocation Process 12 Feb 04
It was decided that the meeting for this next stage of development would be
led by Marnie Eves from OPIRG Peterborough.  Matt Naylor and John Muir from
the Trust will attend.

07.  Any Other Business
It was noted that members of Traill College were seeking information with
regard to maintaining and preserving the College.

The idea of a "Founder's Day" celebration was discussed for March or April
2004, and it was decided that Mike Izzo would be approached to organise it.

08.   Adjournment
The next Meeting was set for Monday, 23 February 2004. There being no other
business the Meeting was adjourned at 1:05pm.

[end]