University of Virginia Library

TRANSFER OF REAL ESTATE FROM THE UNIVERSITY OF VIRGINIA TO THE UNIVERSITY OF VIRGINIA FOUNDATION FOR CONSTRUCTION OF THE NORTH PARKING GARAGE

(approved by the Finance Committee on January 22, 2007)

WHEREAS, the University has a need for additional parking, particularly after the demolition of the West Parking Garage; and

WHEREAS, to provide a substantial increase in parking spaces for use by the University, UVAF plans on constructing a parking garage adjacent to University property; and

WHEREAS, the University will purchase the parking garage from UVAF when it is complete and operational; and

WHEREAS, the City of Charlottesville requires the parking garage be situated on a single tax map parcel, and the current plans depict the footprint of the garage on multiple parcels owned by both the University and UVAF; and

WHEREAS, the real estate required for the garage, a portion of 1222 Jefferson Park Avenue, was acquired by the University using Hospital operating revenues; and

WHEREAS, to facilitate the construction of the garage, as shown on current plans as approved by the City of Charlottesville;

RESOLVED that the transfer of approximately 25,000 square feet of real estate from the University of Virginia to the University of Virginia Foundation is authorized; and

RESOLVED FURTHER that the Executive Vice President and Chief Operating Officer is authorized to take any actions and to execute any and all documents necessary to accomplish the transfer of real estate from the University to the University of Virginia Foundation, for the construction of the garage.