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.
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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