Repository: UIHistories Project: Board of Trustees Minutes - 1986 [PAGE 407]

EXTRACTED TEXT FROM PAGE:

396

BOARD OF TRUSTEES

[October 10

EXECUTIVE SESSION President Shepherd, referring to Section T w o of the O p e n Meetings Act, stated: "A motion is now in order to hold an executive session to consider information regarding the appointment, employment, or dismissal of employees or officers, to discuss pending, probable, or imminent litigation, the acquisition of real property, and to discuss campus security." T h e motion was made by M r . Forsyth and approved unanimously. Sale of Residence in Fairfield, Illinois (Estate of John H. Rapp) (1) John H. Rapp died in 1982 leaving his estate to the University of Illinois for the purpose of providing law school scholarships to students selected by the College of Law. An inventory of the estate, filed in March 1985, indicated an estimated fair market value of approximately $600,000, with assets consisting of farmland in Ohio, a land contract, residential property in Fairfield, Illinois, and other personal property. The University is in the process of attempting to sell both the farmland and the residential property, with the proceeds to be used in accord with Mr. Rapp's will. The residential property is unoccupied and in need of repair, and certain expenses have been incurred to maintain it in its current condition. The property was appraised at $30,000. However, the University has received an offer to purchase the residential property at a price of $25,000, an offer valid through October 14, 1985. The vice president for business and finance has recommended that the Board of Trustees approve the sale of this residential property for $25,000. I concur. On motion of Mr. Forsyth, this recommendation was approved by the following vote: Aye, Mrs. Day, M r . Forsyth, Mrs. Gravenhorst, Mr. H a h n , Mr. Howard, M r . Logan, Mr. Madden, Mrs. Shepherd, Miss Smith; no, none; absent, Governor Thompson. ( T h e student advisory vote was: Aye, M r . Becker, M r . L a m m ; no, none.) Acquisition of Land for Beckman Institute and Other Projects J. Frederick Green, associate vice president for capital programs, and others reviewed current efforts to acquire property in the area adjacent to the north campus of the University at Urbana. Portions of a six-block area east of Illinois Field to Goodwin Avenue and between University and Springfield Avenues are being reviewed, as well as adjacent areas, with the intent of acquiring some eighteen acres for future acquisition by the University. A plan for the use of appraisers and real estate agents to obtain options and perform related tasks was oudined to the trustees. By consensus, the trustees approved the general concept and designated the eighteen-acre area for future acquisition. Specific recommendations to exercise options, to acquire property, and to take further steps as necessary will be presented to the trustees in due course. (A memorandum regarding the land acquisition program is filed with the secretary of the board for record.)