Repository: UIHistories Project: Board of Trustees Minutes - 1952 [PAGE 408]

EXTRACTED TEXT FROM PAGE:

i9So]

UNIVERSITY OF ILLINOIS

50S

the President of t h e Illinois Agricultural Association who said that (1) these organizations are firm in their belief that a new building for home economics is greatly needed at t h e University and that they will solidly support a state appropriation for such a building; (2) a t t h e same time, they recognize t h e importance of other projects in t h e University's building program; (3) they are aware of t h e problem the Board of Trustees has in determining priorities; (4) they wish to avoid seeking a separate state appropriation for a home economics building independently of t h e University, preferring to work with t h e Board of Trustees in support of the entire building program; and (5) that if it is not feasible t o include provision for a new home economics building in the state appropriations requested for 1951-1953, these organizations request definite assurance a t this time that it will be included in t h e building program for t h e succeeding biennium. Your Committees were much impressed with t h e fairness of these presentations and with t h e fine interest these organizations have in t h e University's program in home economics. As a result of this hearing, your Committees recommend that the Board of Trustees request t h e Sixty-seventh General Assembly of Illinois to appropriate to t h e University for 1951-1953 sufficient funds for complete architectural drawings for a new home economics building so that t h e University will be ready t o proceed with t h e construction of the building without loss of time as soon as funds for t h e building itself are available.

PARK LIVINGSTON D R . K A R L A. M E Y E R M R S . D O R I S S. H O L T W I R T HERRICK D R . K A R L A. M E Y E R W A L T E R W. M C L A U G H L I N ,

Chairman

WIRT HERRICK

J O H N R. F O R N O F , Chairman

Committee on Agriculture

Committee on Buildings and Grounds

President S t o d d a r d recommended that this appropriation be absorbed within t h e total appropriations requested in the building program for 1951-1953, as approved by the Board of Trustees on October 26, 1950 (Minutes, pages 428-430), b y including it in the item of $1,700,000 for remodeling, improvements, a n d minor additions so that this item will be f o r : Architectural drawings for a H o m e Economics Building, Remodeling, Improvements, and Minor Additions, $1,700,000. O n motion of M r . Fornof, t h e recommendation of t h e two committees w a s approved a n d t h e building program for 1951-1953 was amended as recommended b y President Stoddard.

REPORT O F COMMITTEE O N CHICAGO DEPARTMENTS ON CHICAGO HOUSING PROJECTS Mr. Livingston presented t h e following report: Supplementing t h e report of t h e Committee t o the Board on October 26, 1950, Equitable Life Assurance Society was asked for a final statement as t o what it would do about a loan on these projects. I t has advised t h e Medical Center Commission and t h e Comptroller t h a t t h e maximum amount it can lend on this project is #2,700,000. T h e total estimated cost of t h e project, based on bids received in October for construction work and estimates of other costs, is #4,02 7,000. T h e Commission and t h e Comptroller are advising Equitable that in view of this fact t h e negotiations with t h e Company are considered t o be terminated, thus leaving t h e way open for t h e Commission t o negotiate with other parties. The Committee has carried on discussions as t o other means of securing funds for this project. It is believed an investment firm may be willing t o seek such funds if given an exclusive right t o do this for a reasonable period. Mr. Amos Watts has indicated that approval of an issue of bonds by t h e Medical Center Commission probably could be given on t h e basis of a lease from t h e University t o t h e Commission carrying a rental sufficient t o meet all costs of operation and t o pay t h e interest and principal of all indebtedness. Such a lease would be for two-year terms with an option to renew or that renewal would be made automatically unless notice is given prior t o the expiration of each two-year period. Discussions have also been carried on with recent bidders (whose bids were