Repository: UIHistories Project: Board of Trustees Minutes - 1972 [PAGE 508]

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498

BOARD OF TRUSTEES

[January 19

On motion of Mr. Howard, this contract was awarded by the following vote: Aye, Mr. Forsyth, Mr. Hahn, Mr. Howard, Mr. Hughes, Mr. Neal, Mr. Pogue, Mr. Steger, Mr. Swain; no, none; absent, Dr. Bakalis, Mr. Grimes, Governor Ogilvie.

REQUEST T O ILLINOIS BUILDING AUTHORITY FOR IMPROVEMENTS TO ABBOTT POWER PLANT, URBANA

(19) On December 14, 1971, the Illinois Building Authority received bids for the last two divisions of work for the construction of the improvements to the Abbott Power Plant at the Urbana-Champaign campus. A copy of the schedule of bids received has been filed with the Secretary of the Board for record. The Illinois Board of Higher Education has arranged with the Illinois Building Authority that the Authority will not use a portion of the amount declared by the General Assembly to be in the public interest until the state board specifically approves such use. This reserve amount consists of a "Cost Increase Reserve" to be used for the purpose of offsetting cost increases determined by actual bid experience. On the basis of the bids received, it is necessary that the University request the Board of Higher Education and the Illinois Building Authority to release $333,540 in the "Cost Increase Reserve" for this project. Accordingly, the President of the University, with the concurrence of appropriate administrative officers, recommends that the Board of Higher Education be requested to release the "Cost Increase Reserve" in the amount of $333,540 and that the Illinois Building Authority be requested to award the following contracts contingent upon the release of the "Cost Increase Reserve," the award in each case being to the low bidder on the base bid: Piping and Miscellaneous Mechanical Work Gallaher & Speck, Chicago $333 468 Thermal Insulation Sprinkmann Sons Corporation of Illinois, Peoria 108 843 Funds for this work are available in the project budget, subject to release of the "Cost Increase Reserve." O n motion of M r . Neal, these recommendations were approved by the following vote: Aye, M r . Forsyth, M r . H a h n , Mr. H o w a r d , Mr. H u g h e s , M r . Neal, Mr. Pogue, Mr. Steger, M r . S w a i n ; no, n o n e ; absent, Dr. Bakalis, Mr. Grimes, Governor Ogilvie.

LEASE W I T H T H E ILLINOIS BUILDING AUTHORITY (ABBOTT POWER PLANT ADDITION AND IMPROVEMENTS, URBANA)

(20) The Board of Trustees on September 17, 1969, authorized the Comptroller and the Secretary to execute the necessary documents to permit the Illinois Building Authority to construct the Abbott Power Plant Addition and Improvements which the Seventy-sixth General Assembly had declared to be in the public interest. The Illinois Building Authority has requested that the Board of Trustees take specific action to approve the execution of a permanent construction lease for the project to replace the interim lease currently in effect. A copy of the lease form is to be filed with the Secretary of the Board for record. The lease is for the terms indicated: Annual Rent Due Feb. 1,1973, Amount of and on or before Rental Feb. 1,1974, Heretofore and on or before Paid Under Feb. 1 of Each Amount of Legislative Amount of Interim Year Thereafter Rental Due Declaration IBA Bonding Lease to Feb. 1, 1996 Feb. 1, 1997 Abbott Power Plant Addition and Improvements, Urbana $3 379 400 $3 375 000 $137 805 $297 135 $41 420