FCR 5

Office of the President
June 10, 1997




Members, Board of Trustees:

                                APPROVAL OF LEASES
Recommendation: that the Vice President for Fiscal Affairs be authorized to negotiate and execute
the following:
Renewal of a lease between the University of Kentucky (Lexington Community College) and
Starwood Opportunity Fund II, LP, %Graves/Turner, 201 West Short Street, Lexington,
Kentucky, for property located at 817 East Third Street, Lexington, Kentucky, effective July 1,
1997 through June 30, 1998, for the use of 20,750 square feet of office/classroom space, at an
annual rate of $151,890.00.

An addendum of a lease between the University of Kentucky (Rural Health) and Appalachian
Regional Healthcare, P. 0. Box 8086, Lexington, Kentucky, for property located at 100 Airport
Gardens Road, Hazard, Kentucky, effective July 1, 1997 through June 30, 1998, for an increase
in cost of security, at an annual rate of $414.50, bringing the total amount to $383,807.60.

Renewal of a lease between the University of Kentucky (Somerset Community College) and Faith
Assembly of God, 390 Faith Assembly Church Road, London, Kentucky, for space located at the
Faith Assembly of God Church, 390 Faith Assembly Church Road, London, Kentucky, effective
July 1, 1997 through June 30, 1998, for the use of 17,408 square feet of office/classroom space,
at an annual rate of $165,384.00.

Background: FCR 5, dated October 5, 1985, authorized the President or his designated
representative to enter into leases and easements not exceeding $30,000 in value and required that
all leases in excess of $30,000 be approved by the Board of Trustees.






Action taken:  lApproved       O Disapproved       O Other