Repository: UIHistories Project: Board of Trustees Minutes - 1992 [PAGE 542]

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B O A R D OF T R U S T E E S

[May 12

occupying the property. The city also agrees to construct a landscaped median strip in Roosevelt Road between Union and Halsted streets as part of a Gateway Park. After the closing, the University becomes obligated to make certain infrastructure improvements within specified time periods. The University must certify that it has set aside a total of $2.6 million to cover the estimated costs of these improvements. The University also agrees to acquire certain property on the south side of Roosevelt Road between Union and Halsted streets and to construct a Gateway Park when it receives appropriated funds for this purpose. Other major obligations assumed by the University are: (1) to lease back to the City the Maxwell Street Police Station for up to five years for use as a police station; (2) consistent with and subordinate to University use, to continue to allow use of University athletic facilities by community groups; (3) to prepare a portion of the expansion area as a staging area at an estimated cost of $400,000 and to lease it to the South Water Market for $50,000 a year, the lease to terminate when the market is relocated or in three years, whichever occurs first;1 (4) to create an escrow of $250,000 to cover the city's share of the closing costs and/or costs related to the relocation of the Maxwell Street Market; and, (5) to pay costs for termination, relocation and/or removal of subsurface and aerial utility lines estimated at $300,000. Finally, the University acquires an option to purchase city-owned property east of the expansion area for which the University has a credit of $250,000 toward the purchase price. Authority is sought to purchase the above city-owned property, to enter into the Intergovernmental Agreement, related agreements, and leases and to otherwise perform the obligations contemplated by the Intergovernmental Agreement. The University has requested a capital appropriation for fiscal 1995 for land acquisition and development in the expansion area; legislation including these funds is before the General Assembly.2 Campus funds are available to cover University obligations and, if required, for expenses necessary to initiate these transactions pending the receipt of the capital appropriation. The chancellor at Chicago recommends approval of the proposed actions. The vice president for business and finance concurs. I recommend approval. On motion of Mr. Boyle, authority was given as requested by the following vote of members of the Executive Committee: Aye, Mr. Boyle, Dr. Gindorf, Ms. Reese; no, none.

This report was received for record.

Report of Contract Award, Triaxial Upgrade and Office Addition, Biaxial Shock Test Machine Building, U.S. Army Construction Engineering Research Laboratory, Champaign

(34) The original Biaxial Shock Test Machine building was constructed in 1973. The facility houses unique equipment which simulates earthquake motion environments. In Fiscal Year 1993, the Department of Defense appropriated $3.9 million to upgrade the existing equipment from a biaxial mode to a triaxial mode. In order to achieve the upgrade of the equipment, it is necessary to provide additions to the existing

1 On November 14, 1992, the board authorized the University to enter into a 15-year lease with the South Water Market that would have required the University to retain certain streets in the expansion area to serve as a staging area for the market. Tnis lease has never been executed. Circumstances have changed, and the city and the University now need to have these streets vacated. The above referenced proposed lease represents the best efforts to date to resolve this matter. 2 The pending legislation also requests funds for the construction of athletic fields and a public safety facility in the expansion area. This anticipated use was presented to the city as part of the Institutional Planned Development.