Repository: UIHistories Project: Board of Trustees Minutes - 1964 [PAGE 202]

EXTRACTED TEXT FROM PAGE:

1962]

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

157

PURCHASE OF PROPERTY AT 4 0 6 EAST CHALMERS STREET, CHAMPAIGN (1) The Director of the Physical Plant and the Vice-President and Comptroller recommend purchase of the property at 406 East Chalmers Street, Champaign, Illinois, at a price of $27,000. The property consists of a lot S1.5 feet by 116.24 feet and is improved with a three-story and basement rooming house and garage. The improvements will eventually be removed and the property will be part of the site for construction of the next residence hall for single graduate students, scheduled to begin in the fall of 1963. The sale price is within the appraisals and has been reviewed with the Buildings and Grounds Committee. Possession will not be later than September 1, 1963, and taxes will be prorated. Funds are available in the state capital appropriations to the University for 1961-63 from the Universities Building Fund, and have been released. I concur. O n m o t i o n of M r . S w a i n , t h e p u r c h a s e of t h i s p r o p e r t y w a s a p proved by the following vote: Aye, M r . Clement, M r . Dilliard, M r . Hughes, Mr. Johnston, Mr. Pogue, Mr. Swain, Mrs. Watkins, Mr. Wilkins, M r . Williamson; no, n o n e ; absent, M r . K e r n e r . PURCHASE OF PROPERTIES (2) The Director of the Physical Plant and the Vice-President and Comptroller recommend the purchase of the following properties at the prices and on the terms indicated in each case: 204 North Romine Street, Urbana $16 000 The property consists of a lot 52 feet on Romine Street and 82 feet deep and is improved with a two-story and basement frame dwelling. The dwelling will eventually be removed and the land will be part of an area for a new Civil Engineering Building. Possession will be delivered not later than October 1, 1962, and taxes will be prorated. The sale price is within the appraisals received by the University. 1105 West Illinois Street, Urbana 35 000 The property consists of a lot 65 feet on Illinois Street by 150 feet deep and has a two-story and basement frame residence and a remodeled garage used as apartments. 107 South Gregory Street, Urbana 28 000 The property consists of a lot 60.10 feet on Gregory Street by 143.88 feet deep and is improved with a two-story frame residence and garage. 109 South Gregory Street, Urbana 24 250 The property consists of a lot 60.10 feet on Gregory Street by 143.88 feet deep and is improved with a two-story and basement frame dwelling. The improvements on the above three properties will be removed and the land will be used to replace parking facilities which will be discontinued when construction of the Illinois Street Residence Halls is started. Possession will be delivered not later than October 5, 1962, and taxes will be prorated. While the sale prices of these three properties are in excess of appraisals secured by the University, it is believed that they can not be reduced through further negotiations. However, because of the cost of condemnation proceedings, the loss of time in litigating such cases and the uncertainty as to decisions which might be reached, it has been concluded that such procedure would not be warranted in acquiring these properties. Funds for the purchase of the properties at 107 and 109 South Gregory Street, Urbana, are available from the proceeds of sale of Housing Revenue Bonds or from Housing Division Reserves. Funds for the purchase of the properties at 1105 West Illinois Street and 204 North Romine Street are available in the state appropriations to the University for 1961-63 from the Universities Building Fund and have been released. I concur.