Repository: UIHistories Project: Board of Trustees Minutes - 1958 [PAGE 369]

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366

BOARD OF TRUSTEES

[April 18

PURCHASE OF LAND ( n ) T h e University has been offered the property at 1005 West Green Street, Urbana, at a price of $35,000 on these t e r m s : $10,000 to be paid upon possession, not later than July 15, 1957; $10,000 to be paid between January 1 and 31, 1058; $15,000 to be paid between January 1 and 31, 1959; interest at 4 per cent per annum to be paid on the unpaid balance; taxes for 1957 to be prorated as of the date of possession. T h e property consists of a lot with a frontage of 95 feet on Green Street and 268 feet deep; a frame house, converted into three four-room apartments, two on the first floor and one on the second floor; and a small (four rooms and bath) house on the rear of the lot. The aggregate rental of these houses is $350 a month. T h e property is in the area of future campus expansion and will be needed for student residence halls. No payment is required until after July 1, 1957. T h e University has received three independent appraisals, ranging from $37,825 to $41,644, which indicate that the price is reasonable in terms of present property values. This has previously been reported to the Committee on Buildings and Grounds which recommends the purchase of the property at the offered price of $35,000. I concur and recommend that the Comptroller and the Secretary of the Board execute the necessary documents.

On motion of Mr. Nickell, the purchase of this property on the terms indicated was authorized, and an appropriation of $35,000 was made from the General Reserve Fund to provide for the payments as specified above. This action was taken by the following vote: Aye, Mr. Bissell, Mr. Herrick, Mrs. Holt, Mr. Hughes, Mr. Livingston, Mr. Nickell, Mr. Swain, Mrs. Watkins; no, none; absent, Mr. Johnston, Mr. Stratton, Mr. Williamson.

C O N D E M N A T I O N OF PROPERTIES AT URBANA, ILLINOIS 204 South Goodwin Avenue (12) T h e University now owns all of the property on the east side of the 200 block of Goodwin Avenue, except the property located at 204 South Goodwin in the city of Urbana, Illinois. This property is owned by Mrs. Leola C. Graham. It is approximately 60 feet wide and n o feet in depth. T h e University needs this property as part of the site for the contemplated Physics Building. Negotiations have been conducted by the Physical Plant Department with Mrs. Graham and it appears that the amount of compensation to be paid for the property can not be agreed upon. Mrs. Graham and her advisers are unwilling to sell the property to the University except at a price which University officers deem excessive. It is, therefore, obvious that it will be necessary for the University to resort to its right of eminent domain in order to acquire this property at a reasonable price. Accordingly, the Vice-President and Comptroller, the Director of the Physical Plant, and the Legal Counsel recommend the adoption of the following resolution, and I concur. Resolution It is hereby resolved, found and declared by The Board of Trustees of the University of Illinois that the following described real estate situated in the City of Urbana in Champaign County, Illinois, to wit: T h e South Sixty (60) feet of the North One H u n d r e d Thirty-four (134) feet of the West One H u n d r e d Twenty (120) feet of Lot Five (5), in W . M. Goodwin's Addition to the City of Urbana, except the West Ten (10) feet thereof, is needed by the University of Illinois, an educational institution established and supported by the State of Illinois, as part of the site of a building needed and to be constructed by said University of Illinois for educational purposes and for further expansion of educational facilities of the University of Illinois and to enable the University to discharge its duty to the people of said state and for