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• A $150,000 design contract with Stengel-Hill for the renovation of the Nursing
Building;
• A $554,253 design contract with JRA Architects and a $398,000 construction contract
with Codell Construction for the Wildcat Coal Lodge student housing proj ect, and
• A $42,000 design contract with Brown & Kubican to renovate Parking Structure # 3
for UK HealthCare.
In addition, the $888,439 contract with Churchill McGee for the Schmidt Vocal Art Center
was completed.
While the number of change orders appears large, over 30 ofthe 45 change orders are
associated with the patient care facility and total approximately $2.5 million. When the project was
initiated, the Board was advised that there would be many such change orders as the project
progressed.
On behalf of the Finance Committee, Mr. Branscum recommended acceptance of the
quarterly Capital Construction Report. Ms. Haney seconded the motion, and it carried without
dissent. (See FCR 12 at the end ofthe Minutes.)
EE. Patent Assignment Report (FCR 13)
Mr. Branscum said that Vice President for Research James Tracy presented the quarterly
Patent Assignment Report. The report included nine patents. During the quarter that ended
March 31, 2010, the University filed 25 patent applications, 16 patents were issued, and patent
receipts total $1.2 million.
On behalf of the Finance Committee, Mr. Branscum recommended acceptance of the
quarterly Patent Assignment Report. Ms. Curris seconded the motion, and it carried without dissent.
(See FCR 13 at the end ofthe Minutes.)
FF. Approval of Investment in Coldstream Laboratories Inc. (FCR 14)
Mr. Branscum said that FCR 14 is requesting that the Board authorize the president to transfer
up to $6 million to the University of Kentucky Research Foundation to be used for investment in
Coldstream Laboratories, (CLI) Inc. CLI was fonned to expand and commercialize pharmaceutical
manufacturing, research, and development. It is building a client base but has not yet become self-
sufficient. Although CLI had hoped to have a positive cash flow by March 2010, the economic
recession has slowed CLI’s progress. The requested investment will be funded by UK HealthCare.
On behalf of the Finance Committee, Mr. Branscum recommended approval of FCR 14. Mr.
Stuckert seconded the motion, and it passed without dissent. (See FCR 14 at the end of the Minutes.)