Caption: Board of Trustees Minutes - 1992
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BOARD OF TRUSTEES
Gravenhorst, Mr. Lamont, Ms. Lopez, Ms. Reese; no, none; absent, Dr. Bacon, Mrs. Calder, Governor Edgar. (The student advisory vote was: Aye, Ms. HufF; absent, Mr. Riley.)
Authorization for Settlement
(31) The university counsel recommends that the board approve the settlement of Lopez v. Medenis, et al. in the amount of $500,000. The plaintiff alleges that the defendants failed to properly diagnose and treat the minor plaintiff's condition as bilateral retinoblastoma which resulted in the enucleation of her left eye and the extensive irradiation of her right eye causing the minor plaintiff to be legally blind. Our defense was that the condition was hereditary and could not have been diagnosed earlier. The vice president for business and finance concurs. I recommend approval.
On motion of Ms. Reese, this recommendation was approved by the following vote: Aye, Mr. Boyle, Dr. Gindorf, Mr. Grabowski, Mrs. Gravenhorst, Mr. Lamont, Ms. Lopez, Ms. Reese; no, none; absent, Dr. Bacon, Mrs. Calder, Governor Edgar. (The student advisory vote was: Aye, Ms. Huff; absent, Mr. Riley.)
Lease of Space, Prevention Research Center, Chicago
(32) The chancellor at Chicago recommends that, subject to the availability of funds, the comptroller be authorized, upon the resolution of the final issues related to rent abatement and the remodeling required by the University under the proposed lease, to revise the terms of the University lease agreement with American National Bank and Trust Company as trustee of the building at 850 West Jackson Boulevard, Chicago, for a one-year period beginning July 1, 1994 (or when the remodeling is completed), which will, unless otherwise notified by the University, be automatically renewed annually for four additional one-year periods. The Prevention Research Center currently occupies the fourth floor of the building and has generated a need for approximately double its present space. The revised agreement will provide for the lease of the entire fourth and fifth floors (22,600 net rentable square feet) of the building. The landlord will remodel in accordance with the building standards and to the specifications of the University all of the fifth floor and a small portion of the fourth floor. In the event that the lease is terminated prior to the end of the five-year period, the University will reimburse the landlord for unrecovered costs to build-out the space. The first year rental costs for the combined space will not exceed $248,604 ($11.00 square foot) and, thereafter, will be subject to annual escalation of 2XA percent. The University will also be responsible for a proportionate share of annual changes in the building's operating expenses and real estate taxes and the landlord will continue to provide janitorial service. The renegotiation of the existing lease, which has options through November 1996, represents substantial savings to the University. The present annual rental cost plus a pro rata share of increases in common area operating expenses and real estate taxes that have occurred during the University's tenancy represent current and estimated lease costs ranging from $18.52 to $20.00 per square foot until the end of the lease. The rate under the new agreement of $11.00 per square foot is competitive with space proposals received for four other buildings in this general location. The Prevention Research Center was founded in 1987 to conduct, stimulate, and support multidisciplinary research on health promotion and the primary prevention of the major causes of morbidity and mortality. The additional lease space