Repository: UIHistories Project: Board of Trustees Minutes - 1956 [PAGE 893]

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890

BOARD OF TRUSTEES

[December 20

by their provisions; provided that the award of the contracts shall not become effective until such assurances have been received and the contracts have been signed, with the approval of the Legal Counsel, by the Comptroller and Secretary of the Board. I further recommend that the law firm of Chapman and Cutler, Chicago, be employed as attorneys for the bond issue and loan agreement with the United States Government.

Mrs. Watkins moved that the foregoing recommendations be approved, and that the Comptroller and Secretary of the Board of Trustees be authorized by the Board of Trustees to award said contracts to said contractors and to execute the contracts accordingly if and when definite assurances have been secured for the financing of the project and for the availability of funds to meet contract payments as required by their provisions, the award of the contracts not to be effective, however, until such assurances have been received and the contracts have been signed after the assurances and the contracts have been approved by the University's Legal Counsel, the President of the University, and by the Comptroller and Secretary of the Board of Trustees. This motion was adopted by the following vote: Aye, Mr. Bissell, Mrs. Holt, Mr. Johnston, Mr. Livingston, Mr. Megran, Mr. Nickell, Mr. Swain, Mrs. Watkins, Mr. Williamson; no, none; absent, Mr. Herrick, Mr. Stratton.

PURCHASE OF PROPERTIES AT 1 0 8 N O R T H ROM1NE STREET AND 1 3 0 7 WEST STOUGHTON STREET (10) The University has an opportunity to purchase the properties at 108 North Romine Street and 1307 West Stoughton Street, Urbana. These properties are now being rented to unmarried students, the majority of whom are foreign students. The owner asserts that an income of approximately $600 a month is realized from renting the facilities as "apartments" at $70 to $75 a month, with six to eight students in each apartment. Because of their present standard of maintenance, however, it would not be feasible for the University to re-use them. The sale price on these properties is $27,450, or $2.08 per square foot. T h e University does not own any property in this block. However, it does own all of the property surrounding this block except on the north. The block is within the area of the University's long-range program of campus expansion and could be used for buildings for the College of Education, the College of Engineering, for residence halls, or for parking facilities. This block is not so well improved as other blocks surrounding the campus, so that its acquisition should be possible at a lower cost than some other areas adjacent to the campus. T h e acquisition of these properties has been approved by the Building P r o gram Committee, the Provost, and by the Committee on Nonrecurring Appropriations which recommends an appropriation for this purpose. I recommend that ( a ) these properties be acquired, (b) an appropriation of $27,450 be made from the General Reserve Fund for this purpose, and (c) that the Comptroller and the Secretary of the Board be authorized to execute the necessary documents to complete the acquisition.

On motion of Mr. Johnston, the purchase of these properties was authorized, the appropriation was made, and the Comptroller and the Secretary of the Board were authorized to execute the necessary documents. This motion was adopted by the following vote: Aye, Mr. Bissell, Mrs. Holt, Mr. Johnston, Mr. Livingston, Mr. Megran, Mr. Nickell, Mr. Swain, Mrs. Watkins, Mr. Williamson; no, none; absent, Mr. Herrick, Mr. Stratton.

CANCELLATION OF SALE OF UNIVERSITY HOUSE (11) The Board of Trustees has authorized the sale of the residence property at 412 Hessel Boulevard, Champaign, to Mr. and Mrs. Delford R. Cantrell. This is