Board of Visitors minutes :: March 21, 1986 :: University of Virginia Library

AUTHORIZATION TO EXECUTE THE CONTRACT BETWEEN THE UNIVERSITY AND THE ALUMNI ASSOCIATION WITH RESPECT TO THE ALUMNI ASSOCIATION ACQUISITION OF THE WESTOVER AND PARK PLACE PROPERTIES

AUTHORIZATION FOR RESTRUCTURING OF THE PORTFOLIO OF THE CONSOLIDATED ENDOWMENT

INSTRUCTION FOR THE SALE OF ALL SHARES OF THE LUBRIZOL CORPORATION

RESOLUTION FOR AUTHORIZATION TO PARTICIPATE IN COMMONWEALTH OF VIRGINIA 9-C BOND ISSUE

CLINCH VALLEY COLLEGE MATTERS

Exhibit A UNIVERSITY OF VIRGINIA Preliminary Feasibility Study for Student Health Building Prepared by The University of Virginia Budget Office December 1, 1981

Exhibit B UNIVERSITY OF VIRGINIA Feasibility Study for North Grounds Recreational Facility Prepared by the University Budget Office In Conjunction with the Vice President for Student Affairs and the Department of Athletics December 22, 1983

Exhibit C UNIVERSITY OF VIRGINIA Feasibility Study for Construction: Parking Garage and Utilities Prepared by the University Budget Office In Conjunction with the Department of Parking and Transportation University of Virginia January 16, 1985

Exhibit D UNIVERSITY OF VIRGINIA Feasibility Study for Housing for Approximately 650 Students Prepared by the University Budget Office in conjunction with the Student Housing Division University of Virginia January 20, 1981 Revised: 3/28/84

ATTACHMENT A OFFICE OF THE LEGAL ADVISER TELEPHONE (804) 924-3586 March 6, 1986

Attachment B PROXY ADVISORY COMMITTEE SPECIAL REPORT ON THE LUBRIZOL CORPORATION MARCH 18, 1986

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AUTHORIZATION TO EXECUTE THE CONTRACT BETWEEN THE UNIVERSITY
AND THE ALUMNI ASSOCIATION WITH RESPECT TO THE ALUMNI ASSOCIATION
ACQUISITION OF THE WESTOVER AND PARK PLACE PROPERTIES

The University Administration has decided that it would be in the best interests of the University for the Alumni Association to proceed with the purchase of 2.25 acres situated in the City of Charlottesville, Virginia, from 307 Park Place to 321 Park Place and from 308 Park Place to 318 Park Place and shown as Parcel 136 on City Tax Map 10, and approximately 325 acres situated in Albermarle County along the 250 and 29 Bypass known as Westover.

The following resolution was adopted:
RESOLVED that the Vice President for Business and Finance be, and he hereby is, authorized to enter into a contract with the Alumni Association of the University of Virginia to carry out the provisions of the attached letter of intent. (See Attachment A)
RESOLVED FURTHER that the University lend $6,700,000, interest free, to the Alumni Association of the University of Virginia for use by the Alumni Association to execute the sale and acquisition agreement on the above-described properties.
RESOLVED FURTHER that the University be, and it hereby is, authorized to reimburse the Alumni Association for expenses incurred by it in the acquisition and management of the property.
RESOLVED FURTHER that the Vice President for Business and Finance be, and he hereby is, authorized to execute the contract between the University and the Alumni Association and to instruct the Alumni Association to execute the sale and acquisition agreement.