Board of Visitors minutes :: May 30, 2003 :: University of Virginia Library

It is the policy of the University that projects involving land acquisition will be subjected to thorough inquiry and due diligence prior to closing on the acquisition of such land. The President or his designee shall insure that the management system

implemented pursuant to Section III provides for a review and analysis of all pertinent matters relating to the acquisition of land as any prudent purchaser would perform to the end that any land acquired by the University shall be suitable for its intended purpose, that the acquisition can be made without discernable risk of liability to the University and that the cost of the land to be acquired, together with any contemplated development thereof, will be such that compliance with the provisions of Section VI of this policy statement is achieved. In addition, the President or his designee shall insure that, where feasible and appropriate to do so, the following specific policies pertaining to the acquisition of land for capital projects are carried out.

(a) Environmental and Land Use Considerations. While pre-appropriation activities relating to planning and budget development of capital projects are not subject to this policy statement, it is sometimes the case with projects involving land acquisition that certain environmental and land use planning requirements cannot be fulfilled until after the appropriation process has been completed. In such cases, depending on the cost of the

land and any contemplated development thereof, the University may be required, as a matter of law, to file an Environmental Impact Report ("EIR") with the Department of Environmental Quality ("DEQ") in order to perfect its authority to expend funds for a capital project (see Section IX). If an EIR requirement is applicable in the post-appropriation phase of a project involving land acquisition, the project management system implemented by the President or his designee pursuant to Section IX shall assure that no closing on such land acquisition takes place until after the EIR requirement has been fulfilled.

It is the policy of the University to cooperate with each locality to whom an EIR is furnished by DEQ during the post-appropriation phase of a project involving land acquisition. Such cooperation shall include but not be limited to furnishing any information which the locality may reasonably request and reviewing any requests by the locality with regard to any such capital project. The University will assure examination of the zoning and comprehensive plan designation of the land and surrounding parcels by the locality, as well as any designation of

historically or archeologically significant areas on the land by state or federal agencies.

(b) Infrastructure and Site Condition. The President or his designee shall insure that, in the case of projects involving the acquisition of land, the management system implemented under Section III provides for a review of the following matters prior to acquisition of the land: that the land can be developed for its intended purpose without extraordinary cost; that an environmental engineer has been engaged by the University to provide an assessment of any environmental conditions on the land; that there is adequate vehicular ingress and egress to serve the contemplated use of the land; that utilities and other services to the land are adequate; and that the condition and grade of the soils have been examined to determine if any conditions exist which would require extraordinary site work or foundation systems.

(c) Title and Survey. An ALTA survey shall be prepared for the land and an examination of title to the land shall be conducted by a licensed attorney or, in the alternative, a commitment for title insurance shall be procured from a title insurance company authorized to do

business in the Commonwealth of Virginia. Based upon the survey and title examination or report, the President or his designee shall conclude, prior to acquisition of the land, that title to the land will be conveyed to the University in fee simple, free and clear of all liens, encumbrances, covenants, restrictions, easements or other matters which may have a significant adverse effect upon the University's ability to own, occupy, convey or develop the land.

(d) Appraisal. An appraisal shall be conducted of the land to determine its fair market value and the consistency of the fair market value with the price agreed upon by the University.