Caption: Board of Trustees Minutes - 1992
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BOARD OF TRUSTEES
provide more efficient, higher quality, and less expensive office space for the Survey Research Laboratory, which will move out of the Westgate Center Building, 910 W. Van Buren, Chicago. This new lease agreement will save the University approximately $25,000 per year. The University has given written notice to the landlord for the Westgate Center Building to terminate, effective November 16,1992, Survey Research Laboratory's current lease. Annual rental payments (which includes after-hours heating, ventilating, and air conditioning costs payable to the managing agent of the 850 W. Jackson Building) will be as follows: Year 1: $102,569; Year 2: $107,920; Year 3: $113,271. Regular business hour electrical expenses for the first year are expected to total $15,842. This agreement is subject to the availability of funds to meet the ordinary and contingent lease expenses of the University for Fiscal Year 1994 and each subsequent year. The vice president for business and finance recommends approval. I concur.
On motion of Mr. Boyle, this recommendation was approved by the following vote: Aye, Dr. Bacon, Mr. Boyle, Mrs. Calder, Mr. Downey, Mr. Grabowski, Mrs. Gravenhorst, Mr. Lamont, Ms. Reese; no, none; absent, Governor Edgar, Mrs. Shepherd. (The student advisory vote was: Aye, Mr. Begovich, Mr. Lawless; no, none.)
Acquisition of 1005 W. California Avenue, Urbana
(29) On January 12, 1989, the Board of Trustees authorized the acquisition of the property at 1005 W. California Avenue, Urbana, at a price within appraisals received by the University or at an amount determined in eminent domain proceedings. Since that time, special legal counsel was engaged to institute condemnation proceedings and negotiations have continued. In December 1988, the University had received an appraisal of this property in the amount of $145,500 and had offered this amount to the owner. The owner had paid $147,500 for the property and planned to construct a new apartment building on the site. The owner had entered into several contracts for that purpose, including a contract for demolition and site preparation work in the amount of $11,800. The demolition portion of work was completed when the University began discussions with the owner. No other construction work was undertaken by the owner. The land is being acquired to provide parking to the central portion of the Urbana campus. Therefore, it is to the University's advantage that the owner cleared the site. The University would own approximately 95 percent of the land in this block if this acquisition were completed. Prior to a recent pretrial hearing, the owner offered to sell the property for $155,000. Special counsel, the Office of University Counsel, and the Office for Capital Programs recommend acceptance of this offer in lieu of proceeding with the court action. Accordingly, the president of the University, with the concurrence of the appropriate administrative officers, recommends acquisition of the property as outlined above. Funds are available in the Division of Campus Parking of the Urbana-Champaign campus.
On motion of Mr. Boyle, this recommendation was approved by the following vote: Aye, Dr. Bacon, Mr. Boyle, Mrs. Calder, Mr. Downey, Mr. Grabowski, Mrs. Gravenhorst, Mr. Lamont, Ms. Reese; no, none; absent, Governor Edgar, Mrs. Shepherd.