Repository: UIHistories Project: Board of Trustees Minutes - 1988 [PAGE 60]

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BOARD O F T R U S T E E S

[September

11

Exchange of Property, Urbana

(3) In order to acquire certain parcels of land essential to begin construction this fall on the north campus at Urbana, a complex property transaction has evolved. The board in May authorized a portion of this transaction; however, additional authority is required to perfect i t The chairwoman of the Executive Committee has concluded that consideration of this matter is urgent and cannot await the next regularly scheduled meeting of the board. Therefore, the president of the University, with the concurrence of the appropriate administrative officers, recommends that the committee, under Article I V of the board Bylaws, adopt the attached resolutions, reaffirm the authority previously granted by the board, and authorize those additional acts necessary to complete this transaction. On motion of Miss Smith, these recommendations were approved by the following vote: Aye, Mrs. Shepherd, Miss Smith; no, none; absent, Mrs. Day.

Resolution Authorizing the Exchange of Property Located at 505 South Busey Avenue, Urbana, Illinois, for Green Property at 1203,1205,1207, and 1209 West Main Street, and 207 North Goodwin Avenue, Urbana, Illinois

Be It, and It Hereby Is Resolved by the Board of Trustees of the University of Illinois, a public corporation of the State of Illinois, that the comptroller and secretary of this public corporation be, and they hereby are, authorized and directed to execute, acknowledge, and deliver, in the name of, and on behalf of, this public corporation, a Warranty Deed and such other documents in connection therewith as they may deem to be necessary or desirable in order to convey title to the following described property; viz: The East 90 feet of Lots 13, 14, and 15 in Campbell & Kelley's Addition to Urbana, situated in the City of Urbana, Champaign County, Illinois. commonly known as 505 South Busey Avenue, Urbana, Illinois, to Lois D. Green, upon such terms and conditions as said comptroller and secretary may deem to be necessary or desirable and in consideration of Lois D. Green conveying title to the following described property to this public corporation and paying to this public corporation the sum of three hundred thousand dollars ($300,000); viz: The South Fifty-seven (57) feet of Lot One (1) in Block Fifty (50) of the Seminary Addition to Urbana, Champaign County, Illinois. Lot 2 in Block Fifty (50) in the Seminary Addition to Urbana, situated in the City of Urbana, in Champaign County, Illinois. Lot 3 in Block Fifty (50) in the Seminary Addition to Urbana, Champaign County, Illinois, in the City of Urbana, in Champaign County, Illinois. Lot 4 in Block Fifty (50) of Seminary Addition to Urbana, situated in the City of Urbana, County of Champaign, State of Illinois. commonly known as 1203, 1205, 1207, and 1209 West Main Street, and 207 North Goodwin Avenue, Urbana, Illinois.