Repository: UIHistories Project: Board of Trustees Minutes - 1980 [PAGE 525]

EXTRACTED TEXT FROM PAGE:

514

BOARD O F T R U S T E E S

( J a n u a r y 17

requested to enter into an agreement to amend and extend the lease of the second and third floors of the Illini Tower at 409 East Chalmers Street, Champaign, from April 1, 1980, through March 31, 1985, upon the same terms and conditions, except that the annual rental be increased to $86,960.' T h e lessor will provide heat, water, janitor services, trash removal, and interior and exterior maintenance. T h e University will pay the metered cost of electricity consumed in the leased space, including that required for the operation of the air conditioning plus, as additional rental, the pro rata share of real estate taxes. It is further recommended that the foundation be requested to sublease the space to the University, subject to the availability of funds, on a fiscal year basis. Funds for the rental payments for FY 1980 will be included in the operating budget of the Operation and Maintenance Division at the Urbana-Champaign campus and will be requested on an annual basis thereafter. O n m o t i o n of M r . L e n z , this r e c o m m e n d a t i o n w a s a p p r o v e d b y t h e following v o t e : Aye, M r . F o r s y t h , M r . H a h n , M r . H o w a r d , M r . L e n z , Mrs. Shepherd, M r . Stone, M r . Velasquez; no, n o n e ; absent, Dr. Donoghue, Mr. Neal, Governor Thompson. ( T h e s t u d e n t a d v i s o r y v o t e w a s : A y e , M r . G r a d y , M r . S o b o t k a , Miss Wyncott; no, none.)

Purchases

(22) T h e president submitted, with his concurrence, a list of purchases recommended by the directors of purchases and the vice president for administration. The list of purchases was presented in two categories: purchases from appropriated funds (i.e., from state appropriations to the University) and purchases from institutional funds. The latter term designates funds received by the University under contracts with the United States government, private corporations, and other organizations; grants from foundations, corporations, and other donors; and University revolving funds authorized by law. The total amounts of these purchases were: From Appropriated Recommended From Institutional Recommended Grand Total Funds $ Funds 1 696 152 66 $1 716 152 6~6 20 000 00

A complete list of the purchases, with supporting information, including the quotations received, was sent to each member of the board in advance of the meeting, and a copy is being filed with the secretary of the board for record. O n m o t i o n of M r . H o w a r d , t h e p u r c h a s e s r e c o m m e n d e d w e r e a u t h o r i z e d by t h e f o l l o w i n g v o t e : A y e , M r . F o r s y t h , M r . H a h n , M r . H o w a r d , M r . Lenz, Mrs. Shepherd, M r . Stone, M r . Velasquez; no, n o n e ; absent, Dr. Donoghue, M r . Neal, Governor Thompson. ( T h e s t u d e n t a d v i s o r y v o t e w a s : Aye, M r . G r a d y , M r . S o b o t k a , Miss Wyncott; no, none.)

1 This space has been leased for various University offices for thirteen years. During the last five years, the annual rental has been $70,000, and the new rate represents an increase of 21 percent. Under the proposed lease, it is estimated that the additional first year costs for electricity and taxes will be approximately $20,000 per year. Both floors contain a total of 22,314 gross sq. ft. and 15,035 net assignable sq. ft. The rental rate plus the estimated cost for electricity and taxes computes to a total estimated unit rate of $4.80 per GSF for the first-year lease period.