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Real Estate Office

Approval Authority -  Exhibit 3(MS-Word Format)

State Property Transactions

Transaction Vice Chanc
Fin. & Bus.		 Chancellor Bldg. &
Prop. Com.		 Board of
Trustees		 Board of
Governors		 Dept. of
Admin		 Council
of State

Real Property Purchase/Sale/      Easement
Interest valued less than $50,000 X(1)

X(1)

*

*

*
Interest valued $50,000 or greater

**

 X X X X
Lease - Acquisition or Disposition
Annual rent is $5,000 or less
     and term is 3 years or less		 X(2)

*
Annual rent is $5,001 - $12,000
     and term is 3 years or less		 X(2)

*

*

X
Annual rent is $12,001 - $25,000
     and term is 3 years or less

X(1)

*

 X
Annual rent is $0 - $25,000
     and in excess of 3 years

X(1)

*

 X

X
Annual rent is $25,001 - $49,999
      term is not a factor

X(1)

*

 X

X
Annual rent is $50,000
      term is not a factor

**

X

X

 X

X
     * Report for Information
  ** Recommendation required
   X  Approval Required
  • Approval Authority for out-lease of space in buildings on Centennial Campus is outlined in "Centennial Campus Disposition by Lease."

NOTE: All delegations are subject to necessary approvals from State Officials and Agencies.

  1. Delegated by the Board of Governors to Board of Trustees less than $50,000 7/7/72. Delegated by Board of Trustees to Buildings and Property Committee less than $50,000 11/8/72. Board of Governors authorized Board of Trustees to delegate to Chancellor less than $25,000 but not delegated, 11/13/81. Authority to approve routine utility easements delegated to Chancellor by Board of Trustees 5/19/78. (Report to Board of Trustees for information only.)

  2. Delegated by Council of State to Board of Trustees 8/9/72, amended 1/8/74. Delegated by Board of Trustees to Vice Chancellor for Finance and Business 9/16/72. Delegation to Board of Trustees rescinded by Council of State 9/1/81. Delegated by Council of State to Department of Administration 9/1/81, in turn to Board of Trustees 11/30/81. Delegation increased by Department of Administration to Board of Trustees to $5,000/3 year limit 4/17/85. Delegation reaffirmed and increased to $12,000 by Board of Trustees to Vice Chancellor for Finance and Business or appointed representative 11/9/85.
    3.
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Last Revised:  10/30/00