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Caption: Board of Trustees Minutes - 1960
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i960] UNIVERSITY OF ILLINOIS I209 embraced within Garfield Park for use by the University of Illinois as an institution of higher education, provided that the purchase price specified in the option represents an approximate valuation of the market value of such property as determined by the Executive Committee. This motion was unanimously adopted. PURCHASE OF PROPERTY AT 9 0 3 WEST NEVADA STREET. URBANA (21) The Director of the Physical Plant and the Vice-President and Comptroller recommend the purchase of the property, including all the furnishings in the house, at 903 West Nevada Street, Urbana, at a price of $43,000. This property consists of a lot, 66 ft. by 104 ft., and an adjoining parcel, 43.4 ft. by 16 ft. (total land area of 7,558 square feet), and a three-story and basement frame house which is presently used as a rooming house for women students. The lot adjoins University property and is within the area of long-range campus expansion. In the meantime, the house, which has been improved in recent years and is in very good condition, can be used to advantage as a cooperative house for women students. There is a need for expansion of such housing, and this house can accommodate twenty-eight women and a housemother. The average of four independent appraisals made of the property by local real estate experts is $34,300. The furnishings in the house and the food service equipment are relatively new and in good condition. They are offered to the University for $8,700, which is less than half of what new equipment would cost. No funds are available in the state capital appropriations to the University for 1959-61, but it is recommended that $43,000 be advanced from funds accumulated in the operation of the temporary housing units to be repaid with interest at a rate of 3J4 per cent a year from the net income of all cooperative housing. A rental rate of $240 a year per occupant will be charged in all cooperative units and will provide sufficient net income to liquidate the investment in twenty years. The Committee on Buildings and Grounds has previously reviewed these recommendations and is prepared to support the same. I recommend that the purchase of the property be authorized and that funds be assigned from Housing Division reserves as indicated. On motion of Mr. Clement, the purchase of this property was authorized, and the requested assignment of funds was approved by the following vote: Aye, Mr. Clement, Mr. Harewood, Mr. Hughes, Mr. Johnston, Mr. Pogue, Mr. Swain, Mrs. Watkins, Mr. Wilkins, Mr. Williamson; no, none; absent, Mr. Herrick, Mr. Stratton. RECOMMENDATION OF THE UNIVERSITY PATENT COMMITTEE (22) The University Patent Committee submits, with the concurrence of the Chairman of the University Research Board, the following recommendation relating to an invention by a member of the staff. Method of preparing and dehydrating foods — A. I. Nelson, Professor of Food Processing, inventor. This is a new way of dehydrating and preparing foods, especially precooked, cream-style sweet corn. It was developed by the Department of Food Technology under a contract with the Quartermaster Corps of the United States Army. The Head of that Department is doubtful that the method constitutes a patentable invention; and both he and the inventor are convinced that the method has no commercial possibilities, although it may have some value in the preparation of military rations. After considering this matter, the Patent Committee recommends the release of all rights of the University in this development to the United States Government. I concur in this recommendation. On motion of Mr. Clement, this recommendation was approved. On motion of Mr. Pogue, the Board adjourned. A. J. JANATA KENNEY E. WILLIAMSON Secretary President
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