Repository: UIHistories Project: Board of Trustees Minutes - 1938 [PAGE 14]

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12

BOARD OF TRUSTEES

[July 10

T h e r e were originally fourteen lots in the Gallivan Addition, two of which have been sold to fraternities, leaving 3 to 14 unsold subject to the following mortgage indebtedness: a first mortgage of $15,000 to the Chicago Title & Trust Company, and a second mortgage, also to the Chicago Title & T r u s t Company, for $50,000. In addition, all lots are subject to the following local improvements: (1) Pavement Assessment, Maryland Drive, Virginia Drive, and College Court (2) Sewer and Storm Drainage Assessment (3) Pennsylvania Avenue Improvements Assessment (4) Gallivan Lighting System Assessment (5) Saline Drainage Ditch Assessment (6) Back Taxes (7) 1935 General Taxes 000 440 466 250 120 4 104 579 $50 960 32 7 3 3 00 00 00 00 00 59 89 48

There is, therefore, an indebtedness of $115,960.48 to be liquidated before the University can obtain a clear title. In our opinion, the best approach to the acquisition of this land is to offer an amount which is fair and reasonable and stand on this proposition. W e have been told by the lawyers handling this case that they believe a clear title can be obtained for approximately $40,000 to $45,000 by getting all parties to agree to scale down their indebtedness. I suggest, therefore, that consideration be given to the purchase of this property in the biennial budget. It may, of course, be necessary to act sooner than that if foreclosure proceedings are started. If this happens, a payment of $10,000 to $20,000 would be necessary, which could be held in escrow until the title could be cleared. This would mean that the University would have to commit itself to the purchase, the remainder of the purchase price to be paid at a later time. W e will submit for your approval later a program for the liquidation of the investment in Roselawn Cemetery. An interchange of this property with the Gallivan tract does not at this time seem possible. Very truly yours, Physical Plant Department

By C. S. HAVENS

The President of the University was requested to include this matter for discussion with other items in the biennial budget.

PAVING IMPROVEMENTS (20) The Director of the Physical Plant Department reports that the City of Urbana is interested in the following public improvements: (1) repaving of Nevada from Lincoln to Mathews Avenue; (2) repaving of Springfield Avenue from Wright to Goodwin Avenue; (3) repaving of Romine from Springfield Avenue to Main Street. The City officials have been advised that the University would neither oppose nor encourage such improvements and that although it is not assessable for them, the policy of the Board of Trustees relative to such projects has been to assume the University's proportionate share of the cost. They have also been advised that if these improvements are undertaken the University would prefer to have them completed in the order listed above. T h e City Engineer will submit an estimate of the cost of these improvements.

On motion of Mr. Pogue, the Board voted to maintain its present policy with respect to such improvements.

REPORT ON RELATIONS W I T H LABOR UNIONS IN CHICAGO DEPARTMENTS (21) The following report from the Director of the Physical Plant Department on the relations between his Department and the T r a d e Unions in Chicago: