Repository: UIHistories Project: Board of Trustees Minutes - 1972 [PAGE 288]

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BOARD OF TRUSTEES

[April 21

WHEREAS, the interim lease applicable to this project which was heretofore executed pursuant to prior authorization was for a different amount than now being designated; and WHEREAS, the Illinois Building Authority has forwarded to the University of Illinois a form of the permanent construction lease which it requests be used for this project and which will supersede the interim lease; and has requested that the Board of Trustees take specific action to approve the same; copy of which lease form is presented herewith and is being filed with the Secretary of the Board for record; Now Therefore, Be It, and It Hereby Is, Resolved that the Comptroller and Secretary of this Board of Trustees be, and hereby are, authorized to execute, acknowledge, and deliver in the name and on behalf of this corporation a lease with the Illinois Building Authority in substantially the form presented to this meeting for the following building: Construction of a Burrill Hall Building Addition at the Urbana-Champaign campus at a cost to the Illinois Building Authority of $1,380,000 requiring an initial rental on or before March 1, 1971, of the sum of $62,475, and on or before September 1, 1971, the sum of $124,685; and during each successive renewal term of the Lease, the annual sum of $124,685 on or before the 1st of September of each year for 23 years with total rental payments of $3,117,385. O n motion of Mr. Swain, authorization was given as recommended and the foregoing resolution was adopted by the following vote: Aye, M r . Forsyth, Mr. Grimes, Mr. H a h n , Mr. H o w a r d , M r . Hughes, Mr. Neal, M r . Pogue, Mr. Steger, M r . S w a i n ; no, n o n e ; absent, D r . Bakalis, Governor Ogilvie.

LEASE OF 7 0 1 SOUTH W R I G H T STREET. CHAMPAIGN

(22) The President of the University, with the concurrence of appropriate administrative officers, recommends that the University of Illinois Foundation be requested to lease a portion of the second floor (approximately 1,871 gross square feet) of the building at 701 South Wright Street, Champaign, beginning July 1, 1971, through May 31, 1975, at an annual rental of $4,000 per year and sublease it to the University on an annual basis. It is further recommended that authorization be given, subject to funds being made available in the operating budget of the Department of Plant and Services, to enter into a sublease of the property with the Foundation for the period July 1, 1971, to June 30, 1972, with options for annual renewal thereafter during the term of the lease. Funds for rental and operation until June 30, 1972, are included in the University's budget request for fiscal year 1971-72. Funds required after that date will be requested in the budget of the Department of Plant and Services on an annual basis. O n motion of M r . Swain, these recommendations were approved by the following vote: Aye, Mr. Forsyth, Mr. Grimes, Mr. H a h n , Mr. H o w a r d , Mr. Hughes, Mr. Neal, Mr. Pogue, Mr. Steger, Mr. Swain; no, n o n e ; absent, Dr. Bakalis, Governor Ogilvie.

EASEMENT TO GENERAL T E L E P H O N E COMPANY OF ILLINOIS IN LA SALLE COUNTY

(23) The President of the University, with the concurrence of appropriate administrative officers, recommends that the General Telephone Company of Illinois be granted an easement for the installation of an underground telephone cable over the road right-of-way only bordering Weber Farms Nos. 1 and 2 in La Salle County, and that the following resolution be adopted. Resolution Granting Easement Over Road Right-of-Way Only and Bordering Weber Farms Nos. 1 and 2, Located in Hope Township, La Salle County, Illinois Be It, and It Hereby Is, Resolved by T H E BOARD OF TRUSTEES OF T H E UNIVERSITY OF ILLINOIS, a public corporation of the State of Illi-