Repository: UIHistories Project: Board of Trustees Minutes - 1954 [PAGE 477]

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474

BOARD OF TRUSTEES

[November 28

On motion of Mrs. Watkins, this reassignment of funds was approved by the following vote: Aye, Mr. Grange, Mr. Herrick, Mrs. Holt, Mr. Johnston, Mr. Livingston, Mr. Megran, Mr. Nickell, Mrs. Watkins; no, none; absent, Mr. Fornof, Mr. Hickman, Mr. Stevenson.

SALE OF RESIDENCE PROPERTIES (10) Because of the postwar shortage of rental housing in Champaign-Urbana, the University purchased a number of residence properties and constructed others for rental to staff members. It was contemplated that the properties would eventually be sold and the Board of Trustees approved a policy for the sale of these properties to staff members desiring to purchase them. Pursuant to this policj' several houses have been sold to the occupants. In all sales heretofore the purchase prices have equaled or exceeded the University's investment in the property. The University now has offers for the purchase of two more properties: Professor Lyle H. Lanier, Head of the Department of Psychology, leases the property at 709 West Michigan Avenue, Urbana. It was purchased by the University in August, 1948, for $22,500 and, subsequently, $104.11 was expended on improvements. Professor Lanier is interested in purchasing this property at a price of $22,500 with closing adjustments for insurance, rent, and other incidental items to be made as of November 1, 1952. The University has secured three independent appraisals of this property, two of them being $22,500 and one $22,000. Major C. M. Russell, Assistant Professor of Military Science and Tactics, leases the prefabricated house at 305 Hessel Boulevard, Champaign, constructed in 1948 at a cost of $14,213. Three independent appraisals of this property have been $13,000, $12,750, and $12,500. Major Russell is interested in purchasing this property at a price of $12,750. The Director of the Physical Plant and the Comptroller recommend that (a) the policy governing the sale of residence properties be modified to provide that sales may be made on the basis of independent appraisals even though the appraisals may be less than the cost to the University, in each case the sale to be subject to prior approval by the Board of Trustees; (b) the sale of the properties to Professor Lanier and Major Russell at the prices offered be authorized. 1 concur in these recommendations and recommend further that the Comptroller and the Secretary of the Board be authorized to execute, acknowledge, and deliver warranty deeds and such other documents in connection therewith as may be necessary in order to effectuate the transfer of titles to the properties at 709 West Michigan Avenue, Urbana, and 305 Hessel Boulevard, Champaign.

On motion of Mr. Grange, these recommendations were approved by the following vote: Aye, Mr. Grange, Mr. Herrick, Mrs. Holt, Mr. Johnston, Mr. Livingston, Mr. Megran, Mr. Nickell, Mrs. Watkins; no, none; absent, Mr. Fornof, Mr. Hickman, Mr. Stevenson.

EASEMENT TO MEDICAL CENTER STEAM COMPANY (11) The Director of the Physical Plant and the Comptroller recommend that the Board of Trustees grant an easement to the Medical Center Steam Company to permit the installation and use of steam and return piping on the University property at Polk and Wood Streets and at Polk Street near Marshfield Avenue in Chicago, the easement to continue only until such time as the University shall acquire title to and ownership of the property and facilities of the Medical Center Steam Company. I concur and recommend that the Comptroller and the Secretary of the Board be authorized to execute the documents necessary to grant to the Medical Center Steam Company such an easement across the following described University lands: Lot Twenty-four (24) in Sturges and Others Re-Subdivision of Block Nine (9) in Assessor's Division of the East Half (E^4) of the Southeast Quarter ( S E J 4 ) of Section Eighteen (18), Township Thirty-nine (39) North, Range Fourteen (14) East of the Third Principal Meridian; and That part of Lots One (1), Two (2) and Three ( 3 ) , lying West of the Alley opened by Ordinance of the City of Chicago, passed September 22, 1873, i n