Start by making a list of things you would like at your school. Most schools need better technological equipment like projectors, SMART boards, and updated computers. That is a pretty basic answer that no teacher could really argue with. But if the assignment asks you to be more specific and creative, you could possibly think about undated buildings on campus as well. Those buildings could be equipped with the latest solar technology so the school could save money later on with energy costs. One bible school in our area actually purchased a windmill that could generate its own energy for the school and would pay for itself in 10-15 years. Depending on where the college is, too, you could think of transportation for students and state of the art facilities that would give them access to the best information (libraries) and activities around (fitness centers, etc.) You could even look to hire some very popular or expensive professors to teach there so the school would become more reputable.