Repository: UIHistories Project: Board of Trustees Minutes - 1982 [PAGE 594]

EXTRACTED TEXT FROM PAGE:

1982]

UNIVERSITY OF ILLINOIS

583

administrative officers, recommends that the University of Illinois Foundation be requested to amend and extend the lease of 19,000 net assignable square feet of space at 503-505 East Green Street, Champaign, for the period July 1, 1982, through June 30, 1987, upon the same terms and conditions as the existing agreem e n t — except that the annual rental for FY 1983 would be increased to $135,000 ($7.03/NASF); and the annual rental for each of the four additional annual periods would be increased $6,724 ($0.35/NASF per year). It is further requested that the University approve the sublease of this space from the foundation beginning July 1, 1982, on a year-to-year basis, subject to the availability of funds. Funds for the first year will be included in the Operation and Maintenance Division institutional and the Parking Division Restricted Funds budget authorization requests to be submitted to the Board of Trustees for FY 1983. Appropriate funds will be requested through the normal budget process on an annual basis thereafter. (The University has been leasing space in this building since 1977. T h e present occupants include units from the College of Communications, the Psychology Department, the Department of Architecture, the University and campus offices of Personnel Services, and the Division of Campus Parking. (The rental rates include complete operation and maintenance expenses, except for telephone. T h e proposed rental for FY 1983 represents an increase of approximately 19 percent in the average rental rate for the last five years and annual increases of approximately 5 percent each year thereafter, amounts considered reasonable.)

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

Renewal of Leases, Cooperative Extension Service

(28) The president of the University, with the concurrence of the appropriate administrative officers, recommends that the following leases be authorized, subject to the availability of funds, for the period July 1, 1982, through June 30, 1983, at various locations within the state to provide space for Cooperative Extension activities. The terms of the leases proposed are as follows: Present Lessor/Location/ Annual Payment Area Leased Cost/Sq. Ft./Year' $ 4,028.00 Adams County Farm Bureau, Quincy $ 0.47/sq. ft. 1,239 sq. ft. plus 7,400 sq. ft. nonexclusive Champaign County Farm Bureau, Champaign $14,000.00 1,624 sq. ft. plus 2,400 sq. ft. $ 3.48/sq. ft. nonexclusive 3418 West 54th Place, Chicago $ 4,275.00 (Cook County) 4,500 sq. ft. $ 0.95/sq. ft. Fayette County Extension Building $ 2,700.00 Association, Vandalia, 1,770 sq. ft. $ 1.53/sq. ft. Proposed Annual Payment Cost/Sq. Ft./Year' $ 9,808.01 $ 1.14/sq. ft. $17,000.00 $ 4.22/sq. ft. $ $ $ $ 6,900.00 1.53/sq. ft. 7,200.00 4.07/sq.ft.

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