Repository: UIHistories Project: Board of Trustees Minutes - 1974 [PAGE 618]

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BOARD OF TRUSTEES

Bachelor of Urban Planning Total, College of Fine and Applied Arts College of Liberal Arts and Sciences Bachelor of Arts . Bachelor of Science... Total, College of Liberal Arts and Sciences College of Physical Education Bachelor of Science College of Law Juris Doctor „ College of Veterinary Medicine Bachelor of Science Doctor of Veterinary Medicine Total, College of Veterinary Medicine, Total, Degrees Conferred at Urbano-Chompaign, May }9,1974 EXECUTIVE SESSION

9 0 1 - 9 0 3 SOUTH SIXTH STREET. CHAMPAIGN

10 370 965 870 1 835 109 164 84 77 161 5 633

(45) In accordance with a September 15, 1971, action of the Board of Trustees, the University of Illinois Foundation acquired the property at 901-903 South Sixth Street, Champaign, at a price of $140,240 and leased the same to the University with an option in the University to purchase the property for the unpaid balance of the funds borrowed by the Foundation for the purchase. The property contains several commercial buildings and six tenants under leases which expire between May 31, 1975, and June 30, 1976. Subsequent rental income has reduced the option price to $137,240. It is now desired to change the site of the Speech and Hearing Clinic from the northwest corner of Sixth and Chalmers Streets to the southwest corner of Sixth and Daniel Streets. In order to accomplish the resiting, the properties at 901-903 South Sixth Street must be acquired from the Foundation. State appropriations in the amount of $143,796 are available for the acquisition. The present project schedule for the Speech and Hearing Clinic anticipates the start of construction by January 1975 and, consequently, the leases at 901-903 South Sixth Street, Champaign, must be terminated by that date. Accordingly, the President of the University, with the concurrence of appropriate administrative! officers, recommends that in conjunction with the property at 901-903 South Sixth Street: 1. The Foundation be requested to accomplish termination of the leases as of December 31, 1974, at a cost within appraisals. 2. The property be acquired from the Foundation for $137,240, plus costs incurred by the Foundation for the termination of the leases. _ Funds for the acquisition are available in state capital appropriations to the University which have been released by the Governor, and in the Urbana-Chatnpaign campus Unas signed Reserves. On motion of M r . Howard, these recommendations were approved by the following vote: Aye, Mr. Forsyth, Mr. H a h n , Mr, Howard, Mr. Hughes, Mr, Livingston, Mrs. Rader; no, none; absent, Dr. Bakalis, Mr. Neal, Mr. Steger, Mr, Swain, Governor Walker. Mr. Costello, the University Counsel, also presented a summary of several legal cases in recent litigation. O n motion of Mr, Howard, the Board adjourned.

E A R L W . PORTER

E A R L M. H U G H E S

Secretary

President