University of Virginia Library

APPROVAL OF ACQUISITION OF 120 11TH STREET S.W.

WHEREAS, The University of Virginia desires to purchase real estate located at 120 11th Street S.W., Charlottesville, from Word Merchants Ltd., consisting of .4250 acres of land as shown on a physical survey of the property recorded at Page 362 of Deed Book 400 in the Clerk's Office of the City of Charlottesville, and all buildings, improvements, fixtures and equipment located thereon and all rights and appurtenances pertaining thereto, for the approximate purchase price of $1,200,000; and

WHEREAS, approval of the acquisition of real estate under Section 2.2-1149 of the Code of Virginia has been delegated to the Board of Visitors; and

WHEREAS, the acquisition of this property will address future space needs of the University of Virginia Medical Center.

RESOLVED that the acquisition of the aforesaid property at 120 11th Street S.W., Charlottesville, consisting of .4250 acres in the City of Charlottesville, consistent with the foregoing conditions and on the terms and conditions as recommended by the Executive Vice President and Chief Operating Officer, is approved;

RESOLVED FURTHER that the Executive Vice President and Chief Operating Officer is authorized to execute any and all contracts and other documents pertaining to the acquisition of the aforesaid property may be deemed necessary or appropriate.