 | Board of Visitors minutes October 16, 1982 |  |
2270
AUTHORIZATION FOR EXECUTION OF AGREEMENTS TO PURCHASE AND
LEASE BACK REAL ESTATE AT 222 and 222A 12th STREET
The following resolution was adopted:
- WHEREAS, the Board of Visitors had previously approved the acquisition of the real estate at 222 and 222A 12th Street, S.W., in the City of Charlottesville by negotiation or condemnation; and
- WHEREAS, the owners of said property have agreed to sell the property to the University for $87,900, if the University will lease the property back to the owners for thirty months for a rental of $10 per year;
- NOW THEREFORE BE IT RESOLVED by The Rector and Visitors of the University of Virginia that the contract with Physicians Clinic Land Trust be, and it hereby is, approved in the form of the agreement exhibited to the meeting and that the lease-back to the Physicians Clinic Land Trust be, and it hereby is, approved in the form of the lease agreement exhibited to the meeting; and
- BE IT FURTHER RESOLVED that the appropriate officers be, and they hereby are, authorized to execute said agreements and to consummate the purchase and lease-back of the property, subject to the approval of the Governor of the Commonwealth of Virginia.
| Board of Visitors minutes October 16, 1982 | |