Repository: UIHistories Project: Board of Trustees Minutes - 1994 [PAGE 166]

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BOARD OF TRUSTEES

[January 20

Adoption of Building Names List, University of IHinois at Chicago

(10) The chancellor at Chicago recommends the adoption of campus building names in order to implement the campus' signage program. Many campus buildings were never officially named. Names for these buildings were established in various ways, e.g., by project architects, Physical Plant staff, or user committees. Several of the names currently in use are no longer appropriate because of changes in function and/or facility remodeling activities. The proposed list will serve as a guide for the campus signage program and for the identification of buildings in promotional materials and correspondence. In some cases, the names for signage purposes may differ from more formal statutory names, but will be used for simplicity and to establish a common campus identity. (A copy of the list is filed with the secretary of the board for record.) 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, Mrs. Calder, Mr. Engelbrecht, Dr. Gindorf, Mrs. Gravenhorst, Mr. Lamont, Ms. Lopez, Mrs. O'Malley, Ms. Reese; no, none; absent, Dr. Bacon, Governor Edgar. (The student advisory vote was: Aye, Mr. Didato-Castillo, Mr. Rose; no, none.)

Authorization to Participate in a Real Estate Investment Trust (Endowment Realty Investors II, Inc.)

(11) The University endowment pool investment program has a five percent allocation to real estate. The purpose of this allocation is to provide diversification to the University's endowment pool investment program. In August 1987, the University committed $3,000,000 to Endowment Realty Investors II, Inc., a real estate investment trust established by The Common Fund. The Common Fund is a nonprofit organization founded in 1971 by the Ford Foundation to provide investment services exclusively for educational institutions and foundations. Endowment Realty Investors II, Inc., has delivered a quality, diversified real estate investment portfolio that has performed well in a difficult real estate environment. Since the original commitment, the endowment pool has grown considerably. Additional investment in real estate is required to maintain the five percent policy allocation. Endowment Realty Investors II, Inc., will provide a comprehensive real estate investment program utilizing multiple professional real estate managers. The investment program will be diversified by geographic location, property type, and by ownership structure. The trust has a termination date of December 31, 2006. As of December 1994, 112 educational institutions have committed approximately $250,000,000 to this trust. Accordingly, the vice president for business and finance recommends that authority be given to enter into a contract for the purpose described above and to commit $1,000,000 of University endowment funds to investment in Endowment Realty Investors II, Inc. I concur.

On motion of Ms. Reese, these recommendations were approved by the following vote: Aye, Mrs. Calder, Mr. Engelbrecht, Dr. Gindorf, Mrs. Gravenhorst, Mr. Lamont, Ms. Lopez, Mrs. O'Malley, Ms. Reese; no, none; absent, Dr. Bacon, Governor Edgar.