6.7 Real Estate Transactions
Board
Policies
Chapter 6 - Facilities Management
Part 1. Policy Statement
The chancellor shall review and approve all real estate transactions.
Acquisitions funded by campus operating monies valued at or greater
than $1,000,000 or 1% of the college or university annual operating
budget and all sales of real property valued at or greater than
$250,000 shall be approved by the Board of Trustees.
Part 2. Responsibilities
The Board of Trustees delegates to the chancellor authority to
execute and deliver on behalf of the Board of Trustees all documents
regarding the acquisition, disposal, transfer or leasing of real
property. The Board of Trustees authorizes the chancellor to acquire,
develop, and sell real property in conjunction with carpentry
programs. The president shall make a request to the chancellor
as provided for in a system procedure.
Part 3. Accountability/Reporting
The chancellor shall report all real estate acquisitions and dispositions
annually to the Board.
Related Documents:
- Procedure 6.7.1 Acquisition and Disposition of Real Estate
- Procedure 6.7.2 Leasing College or University Property for Non College and Universities Activities
- Procedure 6.7.3 Use of Non-College and University Facilities (College or University as Lessee/Tenant)
- Procedure 6.7.4 Carpentry Program Administration
- Two-Year Student Housing Guidelines
- Real Property Conveyance Checklist
- Real Property Acquisition Checklist
Policy History:
Date of Implementation: 06/21/00
Date of Adoption: 06/21/00
Date & Subject of Revisions:
06/21/06 - Amends Part 1 requiring board approval for acquisition of real property valued at or greater than $250,000.
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