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Real Estate Office

Approval Authority -  Exhibit 4(MS-Word Format)

Centennial Campus Disposition by Lease Space in Buildings

Term Annual Rent Vice Chanc
Fin. & Bus.		 Bldg. &
Prop. Com.		 Board of
Trustees		 Board of
Governors		 Dept. of
Admin		 Council
of State

3 years or less

$0-$5,000

X

*

$5,000-$12,000

X

*

*

*

$12,001-$49,999

X

*

*

$50,000 or more

**

 X X *
3+ years to10 years

$0-$49,999

X

*

*

$50,000 or more

**

X

X

*
20+ years

$0-$49,999

X

*

X

X

$50,000 or more

**

X

X

X

X
     * Report for Information
  ** Recommendation required
   X  Approval Required

NOTE:

The North Carolina General Assembly under Session Law 1998-159 amended GS 116-198.34 (5) to empower the Board of Governors of the University of North Carolina to enter into dispositions by easement, lease, or rental agreement of space in any building on the Centennial Campus without obtaining the approval of the Governor and the Council of State, notwithstanding the provisions of GS 143-341 and GS 146 chapter as long as dispositions are for a period of 10 years or less. Approved 2/19/99.

The Chancellor or the Chancellor's appointed representative is authorized, subject to any necessary approvals from State officials or agencies, to execute any lease or rental agreement for space in any building on the Centennial Campus if (a) the business terms of the agreement have been approved by the Committee or Board of Trustees, (b) the agreement is for a period of ten years or less, and (c) the annual rental is less than $50,000. Approved 2/19/99.
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Last Revised:  10/30/00