Repository: UIHistories Project: Board of Trustees Minutes - 1988 [PAGE 62]

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52

BOARD O F TRUSTEES

[September 11

of freezing weather conditions causing the plumbing to rupture and creating extensive damage to the interior. As a result, the contract purchaser decided not to complete the purchase. The property has been reappraised by two real estate appraisers from Fairfield at $10,000 by Terry Weedman and $10-12,000 by Raymond Samford. Over an eight-month period, the University has received just one offer to purchase the property at a price of $10,000, an offer valid through September 30, 1986. T h e vice president for business and finance has recommended that the Board of Trustees rescind its action of October 10, 1985, and approve this sale of the residential property for $10,000 to Wayne County Bank & Trust Company, Fairfield, Illinois, as trustee. I concur.

O n motion of Mr. Howard, this recommendation was approved by the following vote: Aye, Mrs. Day, Mr. Forsyth, Mrs. Gravenhorst, Mr. Hahn, Mr. Howard, Mr. Logan, Mr. Madden, Mrs. Shepherd, Miss Smith; no, none; absent, Governor Thompson. ( T h e student advisory vote was: Aye, Mr. Filip, Mr. Starkeson; no, none.) Status Report, North Campus Land Acquisition Program, Urbana In the fall of 1985, the Board of Trustees authorized the acquisition of land east of Illinois Field for the Beckman Institute and related projects. T h e approved site included 19 privately-owned building structures under 15 separate ownerships plus approximately 2.3 acres of streets and alleys. Subsequently, options to purchase were secured to purchase four buildings at a total cost of $241,500. I n March 1986, condemnation suits were filed on the balance of the privately-owned properties. As a result of negotiations and prior to going to trial, ten additional buildings were acquired through settlement agreements at a total cost of $1,764,800. During August 1986, two condemnation suits for three buildings were tried in the Circuit Court and the jury awards totaled $280,075. Furthermore, at this meeting, a recommendation is being submitted to the Board of Trustees to compensate the City of U r b a n a $415,000 for vacating rights-of-way (streets and alleys) to the University. All of these costs total approximately $2.7 million. Two properties remain to be acquired to complete the land acquisition program. O n e property is set for trial on October 14. With regard to the final property located at 1303-09 West University Avenue, attorneys for the University have had difficulty in setting a trial date as a result of numerous requests and motions by the owner's attorney. Since construction of the Beckman Institute project cannot begin without this property, a quick-take hearing has been scheduled on October 2, to acquire this property under the provisions of the legislation granted to the University. Other Matters In addition, the trustees received reports from the administrative officers with regard to matters of pending litigation and status reports and issues