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Caption: Board of Trustees Minutes - 1990
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586 B O A R D OF T R U S T E E S [June 11 into a new lease with Comlinear Corporation for 3,950 square feet of space (an increase of 750 square feet), located in Warehouse No. 1, for a term ending October 31, 1995. The rental for this period will be prepaid in the total sum of $39,778. If the parties agree to extend the lease, the annual rents for years four and five will be $14,130 and $14,590, respectively. The tenant will continue to pay for all costs of remodeling, operation, and maintenance. The vice president for business and finance has recommended approval. I concur. On motion of Mrs. Gravenhorst, this recommendation was approved by the following vote: Aye, Dr. Bacon, Mrs. Calder, Mr. Downey, Mr. Grabowski, Mrs. Gravenhorst, Mr. Lamont, Ms. Reese, Mrs. Shepherd; no, none; absent, Mr. Boyle, Governor Edgar. (The student advisory vote was: Aye, Ms. Caporusso, Mr. Mitchell; no, none.) Lease of Space, Green Street Building, Chicago (37) The chancellor at Chicago recommends that the University renew its contracts with Jerome H. Meyer & Co., as agents for the beneficiary of a trust with American National Bank and Trust Company of Chicago as trustee to continue leasing 16,200 square feet in the Green Street Building (Suites 108, 202, 204 and 212), 322 South Green Street, Chicago, for the period July 1, 1992, through June 30, 1995. The University would have the option to renew these leases for two additional one-year periods, subject to approval by the Board of Trustees. The facility provides office space for the Latin American Recruitment and Educational Services Program, Campus Cooperative Education, the College of Business Administration, Center for Urban Educational Research and Development, Educational Assistance Program, and President's Award Program. Annual rental payments will be as follows: Year 1 — $238,950; Year 2 — $253,287; and Year 3 — $268,485. These lease costs exclude electrical expenses. (Electrical expenses for the current year are expected to total $19,570.) This agreement is subject to the availability of funds to meet the ordinary and contingent lease expenses of the University for Fiscal Year 1993 and each subsequent year. The vice president for business and finance recommends approval. I concur. On motion of Mrs. Gravenhorst, this recommendation was approved by the following vote: Aye, Dr. Bacon, Mrs. Calder, Mr. Downey, Mr. Grabowski, Mrs. Gravenhorst, Mr. Lamont, Ms. Reese, Mrs. Shepherd; no, none; absent, Mr. Boyle, Governor Edgar. (The student advisory vote was: Aye, Ms. Caporusso, Mr. Mitchell; no, none.) Authorization of Payments for Residency Program in Emergency Medicine, College of Medicine, Chicago (38) The chancellor at Chicago recommends that the vice president for business and finance be authorized to make payments of up to $200,000 to Mercy Hospital, Chicago, to cover administrative expenses and salary payments for residents participating in the College of Medicine's residency program in emergency medicine during Fiscal Year 1992. The residency program in emergency medicine is conducted under an agreement approved by the Board of Trustees in January 1989. Under the terms of this
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