Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 589]

EXTRACTED TEXT FROM PAGE:

5 86

BOARD OF TRUSTEES

[July 21

3. H e will renovate his store front and do some remodeling in the rear of the property, but to complete this at a minimum cost it will be necessary to construct a minor addition which would cross a portion of University land, approximately 25 square feet, at the northwest corner of the lot at 610 East John Street, Champaign, which adjoins the rear of his property. H e has requested that the University sell, lease, or give him an easement across this small area until the University acquires his property. Since the University does not use this small area and Mr. Buttitta has agreed not to proceed with the substantial improvements he originally contemplated, it is recommended the University lease this 25 square feet to Mr. Buttitta for a period of five years from July I, 1959, for one dollar and other good and valuable considerations. I concur. O n m o t i o n of M r . J o h n s t o n , t h i s l e a s e w a s a u t h o r i z e d b y t h e following vote: Aye, M r . Clement, M r . Herrick, M r . Hughes, Mr. Johnston, Mr. Pogue, Mr. Swain, Mrs. Watkins, Mr. Wilkins, Mr. Williamson; no, none; absent, M r . H a r e w o o d , M r . Stratton. ACQUISITION A N D SALE OF PROPERTY IN LA SALLE COUNTY (36) The University owns 640 acres of farm land in La Salle County acquired in 1955 as an outright gift from Miss Laura M. Weber of La Grange Park, Illinois, for the benefit of the College of Agriculture. T w o eighty-acre tracts of farm land in Hope Township, La Salle County, have been placed on the market for public auction on July 30. One is described as the "West Half of the Southwest Quarter of Section 10 in Township 31 North, Range 1 East of the 3rd P.M., Hope Township, L a Salle County, Illinois, commonly known as the Isaac Hiltabrand farm"; the other is described as the "East Hall" of the Southwest Quarter of Section 10 in Township 31 North, Range I East of the 3rd P.M., Hope Township, La Salle County, Illinois, commonly known as the Maude G. Hiltabrand farm." These two tracts are adjacent to the main tract of four hundred acres of the Weber F a r m in Richland Township. A part of the Weber F a r m holdings of the University is an eighty-acre tract approximately six miles from the main tract. The Dean of the College of Agriculture and Director of the Agricultural Experiment Station recommends the University attempt to acquire either or both of the eighty-acre tracts in Hope Township and sell the outlying eighty-acre tract presently owned. Accordingly, the Vice-President and Comptroller recommends that: 1. The Board of Trustees authorize University representatives to submit bids on July 30, 1959, at the auction sale for either or both of the two eighty-acre tracts in Hope Township to be sold; 2. If the University is successful in acquiring this land at auction, the Comptroller be authorized to pay for it from funds in the Endowment Pool Account and to transfer sufficient amounts of government securities from endowment pool funds to current trust funds to provide sufficient cash in the endowment pool for this purchase; and that 3. If the land in Hope Township is acquired, the Comptroller and the Chairman of the Board of Trustees Committee on Agriculture be authorized to negotiate for the sale of the eighty acres presently owned by the University but separated from the main Weber F a r m tract. The terms of Miss Weber's deed of gift will permit this transaction as long as the net profits of any sale of the farm lands she gave the University are used by the University in such manner as will benefit its College of Agriculture or be helpful to its activities. O n m o t i o n of M r . H u g h e s , t h e B o a r d v o t e d t o a p p r o v e t h e foreg o i n g r e c o m m e n d a t i o n s , p r o v i d e d p u r c h a s e p r i c e of t h e p r o p e r t y to b e a c q u i r e d is n o t i n e x c e s s of 2 0 p e r c e n t of t h e a p p r a i s e d value. O n m o t i o n of M r . P o g u e , t h e C o m p t r o l l e r w a s a u t h o r i z e d t o take t h e n e c e s s a r y s t e p s , s u b j e c t t o a p p r o v a l of t h e C h a i r m a n of t h e Board of T r u s t e e s C o m m i t t e e o n A g r i c u l t u r e , t o i m p l e m e n t t h e acquisition a n d sale r e c o m m e n d e d .