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Caption: Board of Trustees Minutes - 1990
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498 BOARD OF TRUSTEES [March 12 Development, Voorhees Center, and other faculty of the College of Architecture, Art, and Urban Planning. Negotiations regarding renewal of this lease could not be completed prior to its expiration due to the bankruptcy of the former owner, The Riceland, a California limited partnership. Subsequent attempts to contact FDIC for renewal were also unsuccessful. Negotiations with the present owner were delayed due to the timing of the closing on the property and the owner's timetable for establishing its Chicago management office. Rental expense for the first year of the term will be $86,902 (a unit cost of $12.25 per square foot; it was $10.94 in Fiscal Year 1991). Rental expenses for years 2 and 3 of the lease will be subject to an annual increase of 5 percent. The lease cost includes janitorial services and all utilities except electrical services. The rental expenses reflect corrections to the measured square footage of Suite 500. These corrections, made by Sudler Marling, Inc., managing agent for the Rice Building as of November 4, 1991, resulted in a change in the recorded square footage for Suite 500 from 6,440 square feet to 7,094 square feet. This agreement is subject to the availability of funds to meet the ordinary and contingent lease expenses of the University for FY 1992 and each subsequent fiscal year. Funds for the leased space are available in the State appropriated funds budget. The vice president for business and finance has recommended approval. I concur. On motion of Mr. Boyle, this recommendation was approved by the following vote: Aye, Dr. Bacon, Mr. Boyle, Mrs. Calder, Mr. Downey, Mr. Lamont, Ms. Reese, Mrs. Shepherd; no, none; absent, Governor Edgar, Mr. Grabowski, Mrs. Gravenhorst. (The student advisory vote was: Aye, Ms. Caporusso, Mr. Mitchell; no, none.) Authorization for Settlement (23) The university counsel and the vice president for business and finance recommend that the board approve settlement of the lawsuit, Michael Beson (decedent) vs. James Bartlesmeyer, et al., in the amount of $325,000. Plaintiff alleges that a braindamaged infant was born as a result of negligence. Our principal defense was that the injury was consistent with prenatal exposure to drugs/alcohol. I recommend approval. On motion of Mr. Boyle, this recommendation was approved by the following vote: Aye, Dr. Bacon, Mr. Boyle, Mrs. Calder, Mr. Downey, Mr. Lamont, Ms. Reese, Mrs. Shepherd; no, none; absent, Governor Edgar, Mr. Grabowski, Mrs. Gravenhorst. (The student advisory vote was: Aye, Ms. Caporusso, Mr. Mitchell; no, none.) Purchases (24) The president submitted, with his concurrence, a list of purchases recommended by the directors of purchases and the vice president for business and finance. The purchases were presented in one category — purchases from institutional funds. The term designates funds received by the University under contracts with the United States government, private corporations, and other organizations; grants from foundations, corporations, and other donors; and University revolving funds authorized by law. The total amount of these purchases from institutional funds was $15,668,427.
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