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Image 13 of Minutes of the University of Kentucky Board of Trustees, 2011-09-13

Part of Minutes of the University of Kentucky Board of Trustees

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become more aware of it. It is based on seven principles and puts emphasis on education. It is a 30-hour framework, and UK is basically the leading edge in the country related to its Core curriculum now. P. Proposed Amendment to Goveming Regulations: Technical Corrections (FCR 2) Mr. Stuckert, chair ofthe Finance Committee, said FCR l was approved by consent earlier in the meeting and FCR 2 is a proposed amendment to the Goveming Regulations. He referred to the proposed revisions in the background section. • Paragraph 3 — In order to bring GR II into consistency with GR XIII, the Business Procedures manual is added to the types of University regulations and policies that the President is authorized by the Board of Trustees to promulgate. • Section A. 2(b) - The language defining the status of faculty in administrative positions was updated in the Human Resources Policy and Procedure #4.0 in 2009. The proposed revision to GR II makes the GR language consistent with the Human Resources policy with respect to faculty eligibility to vote for and serve as elected members ofthe Board of Trustees. • Section A.6(g) - In June 2005, the Board of Trustees increased from $100,000 to $400,000, the threshold amount for gifts to the University that must be accepted by the Board. That language was inadvertently omitted from the GR during a later revision. The proposed revision adds the gift threshold amount back into the GR. Dr. Brockman noted that this is the second reading of this recommendation. Mr. Stuckert moved the adoption of FCR 2. Ms. Curris seconded his motion, and it carried without dissent. (See FCR 2 on the Board of Trustees website, www.uky.edu/Trustees, under agenda.) Q. Approval of Ground Lease with Iota Nu House Copporation of Alpha Phi Intemational Fratemity Inc. for 4l5-4l7 Columbia Avenue Lexington Kentucky (FCR 3) Mr. Stuckert said that FCR 3 involves the approval of ground lease with Iota Nu House Corporation of Alpha Phi Intemational Fratemity, Inc. for 4l5-4l7 Columbia Avenue, Lexington, Kentucky. While it says fratemity, in actuality, this is a sorority. The land would be swapped from those addresses that used to house the Math Excel program to make way for this sorority. The Math Excel program, as was discussed earlier at the Finance Committee meeting, will have better facilities than what they currently occupy. On behalf of the Finance Committee, he moved adoption of FCR 3. Mr. Fielden seconded the motion. Dr. Brockman asked for any questions and recognized Ms. Brothers. Ms. Brothers noted that the Board is giving the Executive Vice President for Finance and Administration the authority to negotiate and execute the lease. She asked that a report be given back to the Board. When this happened to University Lofts, there was no report back to the Board to let the Board know that the property had been acquired. In approving this .13.