Repository: UIHistories Project: Board of Trustees Minutes - 1974 [PAGE 36]

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BOARD OF TRUSTEES

[July 19

On motion of Mr. Swain, these contracts were awarded by the following vote: Aye, Mr. Forsyth, Mr. Hahn, Mr. Howard, Mr. Hughes, Mr. Karnes, Mr, Pogue, Mr. Swain; no, none; absent, Dr. Bakalis, Mr. Neal, Governor Ogilvie, Mr. Steger.

ADDITION TO PHASE I OF CONSTRUCTION ENGINEERING RESEARCH LABORATORY FOR U.S. CORPS OF ENGINEERS, CHAMPAIGN

(30) On January 17, 1968, the Board of Trustees requested the University of Illinois Foundation to provide facilities for the first phase of the Construction Engineering Research Laboratory for the U.S. Corp.'; of Engineers at Interstate Research Park, Champaign. Phase I is now occupied and leased to the Corps of Engineers for the period of the Foundation financing obligation (thirty years), subject to a ninety day termination right in the Corps. The original cost of Phase I, as incorporated in the lease, is $3,500,000. Title to Phase I is with the University of Illinois subject to the lien of the mortgage and the rights of the Corps under I he lease. At its meeting of February 16, 1972, the Board of Trustees requested the University of Illinois Foundation to construct for the U.S. Corps of Engineers at Interstate Research Park, Champaign, an addition to Phase I, an adjacent freestanding building for housing a Shock Test Machine. The project has now progressed in accordance with revised plans. The approximate cost of the building, which will require long term financing, is approximately $425,000. The cost is exclusive of the Shock Test Machine, the preparation of plans and specifications, and the associated equipment for the building including the equipment foundation, all of which will be provided by the Corps at an estimated cost of $1,750,000. It is proposed that the present lease between the Foundation and the Corps be modified to include the additional building. The rental will he the amount necessary to amortize the total cost including the additional $425,000 over the remaining terms of the modified lease until January 1, 1999. In order to arrange for financing for the addition to Phase I, it is necessary to convey to the Foundation approximately 1.915 acres of land for the addition to Phase I. Upon completion of the financing, the Foundation will again transfer title to the University. Additionally the Corps of Engineers has requested that the University of Illinois acquire title to the north 15.175 acres contiguous to the present site of Phase I, in the Interstate Research Park for planned expansion of the project, as provided in the lease between the Foundation and the Corps. The Foundation has an option which expires August 1, 1972, with Interstate Research Park — the present owner of the land— to purchase the land at an approximate total cost of $105,000. It is proposed that the present lease with the Corps be further modified to include the additional 15.175 acres of land. The rental will be the amount necessary to amortize the total cost of Phase I, the addition to Phase 1, and the additional land over the remaining term of the modified lease. The President of the University, with the concurrence of appropriate administrative officers, recommends that: 1. The University of Illinois Foundation be requested to construct and finance for the Corps of Engineers the addition to Phase I of the Construction Engineering Research Laboratory. 2. The University convey to the University of Illinois Foundation approximately 1.915 acres of land necessary for the financing of the addition to Phase I, and in connection therewith recommends the adoption of the attached resolution. 3. The University of Illinois Foundation be requested to acquire for the Corps of Engineers the north 15.175 acres contiguous to the present site of Phase I. On July 6, 1972, the Board of Directors of the University of Illinois Foundation agreed to provide the permanent financing for the addition to Phase I and the acquisition of the 15.175 acres for the Corps of Engineers upon receipt of such request from The Board of Trustees of the University of Illinois. Resolution Authorizing Conveyance of Property for an Addition to the Construction Engineering Research Laboratory in Champaign County, Illinois, to University of Illinois Foundation Be It, and It Hereby Is, Resolved by The Board of Trustees of the University of Illinois, a public corporation of the Stafe of Illinois, that the Comptroller and