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9 > Image 9 of Minutes of the University of Kentucky Board of Trustees, 2010-06-08

Part of Minutes of the University of Kentucky Board of Trustees

-9- V. Approval of Lease for Department of Social Work (FCR 4) Mr. Branscum said FCR 4 recommends that the Board authorize the Executive Vice President for Finance and Administration to negotiate and execute a lease between the Universitys Department of Social Work and Blazer Parkway Venture for space located at 3470 Blazer Parkway in Lexington. The Department of Social Work has occupied the space since 2002. The total annual cost ofthe lease is $181,200 for 10,910 square feet of clinical and administrative space. The University advertised this lease renewal and received no other bids. On behalf of the Finance Committee, Mr. Branscum recommended approval of FCR 4. The motion was seconded by Mr. Stuckert and carried without dissent. (See FCR 4 at the end of the Minutes.) W. Approval of Lease for Department of Psychiatg (FCR 5) Mr. Branscum said that FCR 5 recommends that the Board authorize the Executive Vice President for Finance and Administration to negotiate and execute another lease between the University and Blazer Parkway Venture for space located at 3470 Blazer Parkway in Lexington. The Department of Psychiatry has occupied this space since 1999. The rental rate is $18.25 per square foot for 25,474 square feet of clinical and administrative space and $17.75 per square foot for 546 square feet of support space. The University advertised this lease and received no other bids. The total annual rate will be $474,592, and this will be funded from clinical revenues. On behalf of the Finance Committee, Mr. Branscum recommended approval of FCR 5. Mr. Dawson seconded the motion, and it carried without dissent. (See FCR 5 at the end ofthe Minutes.) X. Lease-Purchase of High Perfonnance Research Computer (FCR 6) Mr. Branscum said that FCR 6 is a recommendation for approval to acquire a High Perfonnance Research Computer which will cost $2.6 million. The supercomputer will be acquired by lease-purchase, and UK will pay $1.3 million annually for two years. The current supercomputer lease expires July 31, 2010. A request for proposals for a new supercomputer was issued, and a committee of faculty assessed the technical and financial responses to ensure that the selected equipment will meet the needs of research faculty. The Debt Management Committee has reviewed the acquisition and detennined that it is consistent with the Universitys Debt Policy. On behalf of the Finance Committee, Mr. Branscum recommended approval of FCR 6. Ms. Patterson seconded the motion, and it carried without dissent. (See FCR 6 at the end of the Minutes.)