Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 1162]

EXTRACTED TEXT FROM PAGE:

1961]

U N I V E R S I T Y OF I L L I N O I S

1159

On motion of Mr. Swain, this matter was referred to the Committee on Buildings and Grounds, with power to act. RECESS AND EXECUTIVE SESSION On motion of M r s . Watkins, an Executive Session was requested, and was so ordered by the President of the Board, to be held after luncheon recess, for consideration of recommendations relating to property acquisition and personnel matters. O n motion of M r . Swain, the Board recessed. Following recess, the Board convened in Executive Session for consideration of the following matters of business. T h e same members of the Board of Trustees, officers of the Board, and officers of the University were present as recorded at the beginning of these minutes. Mr. Harewood, who was absent at the beginning of the meeting, was present at the Executive Session.

ACQUISITION OF PROPERTY

(1) The Director of the Physical Plant and the Vice-President and Comptroller recommend the purchase of the property at 1013 South Oak Street (at the northwest corner of Armory Avenue and Oak Street), Champaign, at a price of $8,000. The property is a vacant corner lot, 73.S feet by 100 feet. Ultimately the land, which adjoins University property, will be part of the site for expansion of the Abbott Power Plant facilities and for construction of buildings which require a railroad siding. With the acquisition of this corner lot, the University will own all of the property on both sides of Armory Avenue from Oak Street west to the Illinois Central right-of-way so that it can consolidate its holdings and make it possible to secure the vacation of this strip of Armory Avenue. The price is within appraisals; possession will be delivered not later than January 31, 1962; and taxes will be prorated. Funds are available in the state appropriations from the Universities Building Fund, and have been released by the Governor. The Committee on Buildings and Grounds has previously considered this property acquisition and recommends approval. I concur. On motion of Mr. Johnston, the purchase of this property was authorized, as recommended, 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. Kerner; Mr. Dilliard was not in the room when the vote was taken and is not recorded.

ACQUISITION OF PROPERTIES

(2) At the request of the Board of Trustees, the University of Illinois Foundation has acquired a number of properties which the University needs, but for which funds were not available at the time the properties were on the market or were needed. The acquisition of these properties was financed by loans made by the First National Bank of Chicago to the Foundation. The properties have been leased to the University and it has the option to purchase them from the Foundation. The University now has state appropriations in the Universities Building Fund for land acquisitions and the Governor has authorized the release of the funds when the money is available from the proceeds of sale of bonds. The Vice-President and Comptroller recommends that the following properties be purchased by the University when the money is available: Property at 805 West Pennsylvania Avenue, Urbana $ 85 000 Land for the Airport West of Savoy — Troutman Tract 135 000 Farm Land for Agricultural Experiment Station — Pell Tract 113 000 Farm Land for College of Agriculture — Maxwell Farm South of Champaign 131 000