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Caption: Board of Trustees Minutes - 1992
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1993] UNIVERSITY OF ILLINOIS 325 Accordingly, the president of the University, with the concurrence of the appropriate administrative officers, recommends that the University now contract with the Capital Development Board to complete the work described above at an additional cost of $36,000 for the Pharmacy Building. Funds are available from the Institutional Funds budget of the Chicago campus. On motion of Ms. Reese, this recommendation was approved by the following vote: Aye, Dr. Bacon, Mrs. Calder, Dr. Gindorf, Mr. Grabowski, Mrs. Gravenhorst, Mr. Lamont, Ms. Lopez, Ms. Reese; no, none; absent, Mr. Boyle, Governor Edgar. (The student advisory vote was: Aye, Ms. Huff, Mr. Riley; no, none.) Supplemental Funding, Molecular Biology Research Facility, Chicago (Contract with Capital Development Board) (37) The Molecular Biology Research Building was designed as a four story building that would house 106 research laboratories and their support facilities. Bids were received by the Capital Development Board on June 2, 1993. Funds for the project from CDB are inadequate to complete the 106 laboratory facility as envisioned by the campus. To complete the full shell of the building and to fit out the minimally required 90 laboratories will require additional funds up to $3,950,000 in campus funds. The project budget shortfall and consequent need for supplemental funding are attributable principally to inflation and market conditions. The delay in releasing the funds for the building meant available CDB funds did not go as far as they might have. A five percent inflation rate applied to a $45.0 million project for a year represents over $2.0 million in lost purchasing power. Moreover, while still good today, the bidding climate is not as good as it was a year ago. State statutes provide that the Capital Development Board and the University may contract with each other and other parties on the design and construction of any project to be constructed on University property. Accordingly, the president of the University, with the concurrence of the appropriate administrative officers, recommends that the University now contract with the Capital Development Board to complete the work needed for the Molecular Biology Research Facility at an additional cost of $3,950,000. University funds are available from the institutional funds budget of the Chicago campus. On motion of Ms. Reese, this recommendation was approved by the following vote: Aye, Dr. Bacon, Mrs. Calder, Dr. Gindorf, Mr. Grabowski, Mrs. Gravenhorst, Mr. Lamont, Ms. Lopez, Ms. Reese; no, none; absent, Mr. Boyle, Governor Edgar. (The student advisory vote was: Aye, Ms. Huff, Mr. Riley; no, none.) Lease of Space, Hospital Finance Office, University Hospital, Chicago (38) The chancellor at Chicago recommends that the University contract with Plymouth Partners L.P., an Illinois limited partnership, to continue to lease 4,150 square feet of space in the Rice Building, 815 West Van Buren, Chicago, for the period of November 15, 1993, through November 14, 1994. The leased space provides office space for Hospital Finance, a division of the University of Illinois Hospital, which was relocated to the Rice Building in February 1993 due to construction and remodeling of their previous location in the Clinical Sciences Building (remodeled to house the grant-funded Infectious Disease Clinic).
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