Repository: UIHistories Project: Board of Trustees Minutes - 1984 [PAGE 281]

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272

BOARD OF TRUSTEES

[June 16

ject to the availability of funds, for the period July 1, 1983, through June 30, 1984, at various locations within the State to provide space for Cooperative Extension activities. The terms of the leases proposed are as follows: Lessor/Location/ Area Leased DeKalb County Farm Bureau, DeKalb 2,796 sq. ft. plus 2,000 sq. ft. nonexclusive Illinois Community College District # 5 1 9 , Stephenson County, 3,700 sq. ft. Orval Sprague, 803 West Leander, Clinton, DeWitt County, 3,000 sq. ft. Present Annual Payment Cost/Sq. Ft./Year1 $17,430.00 $3.88/sq. ft. $11,196.00 $3.44/sq. ft. $6,300.00 $2.10/sq. ft. Proposed Annual Payment Cost/Sq. Ft./Year1 $20,970.00 $4.37/sq. ft. $14,880.00 $4.02/sq. ft. $9,000.00 $3.00/sq. ft.

Funds have been included in the appropriation bill of the General Assembly to meet the ordinary and contingent expenses of the University for Fiscal Year 1984 and will be included in the Cooperative Extension operating budget authorization request for FY 1984 to be submitted to the Board of Trustees. Award of the lease agreements is subject to the availability of these funds. (The lease renewal for DeKalb County provides for an increase of 306 square feet of space, and the renewal for Stephenson County provides for an increase of 450 square feet.)

On motion of Mr. Madden, this recommendation was approved by the following vote: Aye, Mrs. Day, Dr. Donoghue, Mr. Forsyth, Mr. Hahn, Mr. Howard, Mr. Madden, Mrs. Shepherd, Mr. Stone; no, none; absent, Mr. Logan, Governor Thompson. (The student advisory vote was: Aye, Mr. Bandala, Mr. Cobb; no, none; absent, Miss Forsyth.)

Lease of Space, 1001 West Van Buren Street, Chicago

(34) T h e University has an agreement to lease 11,484 square feet of space at 1001 West Van Buren Street, Chicago, for Fiscal Year 1983, from the Reliable Corporation at a monthly rental of $3,349 ($3.50/square ft.). This space is leased for the Pacific Asian-American Mental Health Research Program, previously housed in several off-campus locations. T h e option exists to renew the lease for four additional one-year periods (through 1987). T h e rental for FY 1984 is $3.80 per gross square foot, or $43,639 per year. Accordingly, the president of the University, with the concurrence of the appropriate administrative officers, recommends, subject to the availability of funds, that the option be exercised to extend the agreement for FY 1984, at an annual rental of $43,639. Funds will be included in the Graduate College institutional funds operating budget authorization request for FY 1984 to be submitted to the Board of Trustees.

On motion of Mr. Madden, this recommendation was approved by the following vote: Aye, Mrs. Day, Dr. Donoghue, Mr. Forsyth, Mr. Hahn, Mr. Howard, Mr. Madden, Mrs. Shepherd, Mr. Stone; no, none; absent, Mr. Logan, Governor Thompson.

The unit cost reflects the use of exclusive and nonexclusive space where appropriate.