Back to the February 2001 Board of Regents Agenda

PURCHASE OF PROPERTY

PERTINENT FACTS

The University has the opportunity to purchase the property located at 217 Avenue E. It is an eight unit apartment complex located on a single 0.224 acre lot. Each of the eight units has one bedroom and one bath. This property is bounded on two sides by University owned property and is located just south of the College Inn. It would be prudent to make this purchase in order to continue development of the campus in accordance with the University Master Plan.

RECOMMENDATION TO THE BOARD OF REGENTS

The President recommends, with the concurrence of the Chancellor, that the Board of Regents approve the:

  1. Purchase of the property at 217 Avenue E for an amount not to exceed $340,000 plus applicable closing costs.
  2. Submission of the property purchase request to the Texas Higher Education Coordinating Board for approval.

Source of Funds: Higher Education Assistance Fund