PURCHASE OF MARC PROPERTY AT 1700 WILSHIRE

During the planning phase for the Murchison Performing Arts Center, the decision was made to move the UNT Police and Traffic Services Department from the Sullivant Visitors Center and utilize that space as offices for the Performing Arts Center operations. The administration has been searching for a suitable location for the Police and Traffic Services Department. Their existing quarters in the Sullivant Visitors Center are totally inadequate for their needs. A new opportunity has just been made possible with MARC’s announcement of closing their Denton operations and placing their building on the market. The 15,000 square foot structure, with its 1.10 acres of land, would make a very suitable location with sufficient space for the Police and Traffic Services Department, thereby freeing up the Sullivant building for use by the College of Music. If the purchase is consummated, a request will be submitted to the Board of Regents for approval of a renovation project to prepare the building for use, at a substantial savings under the cost of constructing a new building.

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

1. The purchase of the MARC property at 1700 Wilshire and at a price of $780,000 plus appropriate 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