Repository: UIHistories Project: Board of Trustees Minutes - 1990 [PAGE 200]

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188

BOARD O F T R U S T E E S

[February 14

the leased space to the requirements of the University and replace the building's roof. Funds for the leased space are available in the operating budget of the Chicago campus. T h e vice president for business and finance recommends approval. I concur. O n m o t i o n of Mrs. G r a v e n h o r s t , this r e c o m m e n d a t i o n was a p p r o v e d by t h e following vote: Aye, Dr. Bacon, Mr. Boyle, Mrs. Calder, Mr. Grabowski, Mrs. G r a v e n h o r s t , Mr. L a m o n t , Ms. Reese, Mrs. S h e p h e r d , Mr. Wolff; n o , n o n e ; absent, G o v e r n o r Edgar. ( T h e student advisory vote was: Aye, Mr. Forbes; absent, Ms. Kelly.) Lease of Space, College of Nursing, Chicago (18) T h e interim chancellor at Chicago has recommended that the University contract with Rock Island Bank as trustee of the Regency Plaza Professional Building, in Rock Island, to lease 3,781 square feet of space for a three-year term, from March 15, 1991, through March 14, 1994, to provide space for the administrative offices of the College of Nursing Quad-Cities Program. This lease will replace the existing lease at Augustana College, also in Rock Island. T h e University has the option to cancel the lease at the beginning of each fiscal year of the three-year term subject to annual appropriation of funds. T h e lease may be extended at the option of the University for two three-year terms at an increase in the annual rent of 5 percent per year plus pro-rata share of any increased building expenses. T h e first year lease cost will be at a base rate of $53,310.96 per year (a unit cost of $14.10 per square foot) and includes utilities, heat, air conditioning, common area maintenance, water, sewage, and parking. By the third year, the unit cost will increase to $14.56 per square foot. T h e landlord has agreed to deliver the premises to the tenant in a clean and habitable condition after completing minimal renovation by March 15, 1991. Funds for the leased space are available in the institutional funds budget of the Chicago campus. T h e vice president for business and finance recommends approval. I concur. O n m o t i o n of Mrs. G r a v e n h o r s t , this r e c o m m e n d a t i o n was a p p r o v e d by t h e following vote: Aye, Dr. Bacon, Mr. Boyle, Mrs. Calder, Mr. Grabowski, Mrs. G r a v e n h o r s t , Mr. L a m o n t , Ms. Reese, Mrs. S h e p h e r d , Mr. Wolff; n o , n o n e ; absent, G o v e r n o r Edgar. ( T h e student advisory vote was: Aye, Mr. Forbes; absent, Ms. Kelly.) Lease of Space, Division of Services for Crippled Children, Chicago (19) T h e interim chancellor at Chicago has recommended approval of a lease with Quantum Centre to lease 4,400 square feet of space in the Quantum Centre building located at 421 South Grand West, Springfield, from June 1, 1991, through May 3 1 , 1996, renewable annually. T h e lease will provide space for the Springfield Regional Office staff of the Division of Services for Crippled Children (DSCC) who currently occupy space at the State Regional Office Building in Springfield. This lease will be at a base rate of $53,636 per year (a unit cost of $12.19 per square foot) and is subject to a $.50 per square foot increase in each subsequent year of the lease. T h e lessor will construct facilities to the specification of the University, at the standards of the lessor, and at the expense of the lessor.