FCR12
Office of the President January 24, 2006
Members, Board of Trustees:
APPROVAL OF LEASE
Recommendation: that the Executive Vice President for Finance and Administration be authorized to negotiate and execute the following:
A new lease between the University of Kentucky (Computational Sciences) and e-Cavern, LLC, P.O. Box 545, Crestwood, Kentucky, for space located at 1841 Taylor Road, Louisville, Kentucky effective October 1, 2005 through April 30, 2007 for the use of 4,200 square feet of the secure, underground technology facility at a cost of $729,140.00
Background: The Board of Trustees amended the Governing Regulations (SCGR 1) at its June 14, 2005 meeting requiring that all leases in excess of $100,000 be approved by the Board of Trustees. The President or his designated representative is authorized to enter into leases and easements not exceeding $100,000 in value.
The lease with e-Cavern, LLC is required by the U.S. Department of the Treasury as part of a research project to improve the resiliency of the financial sector to recover from disaster scenarios through development of new secure, remote, financial transaction backup storage systems. The lease will be funded entirely with federal funds.
Action taken:         0 Approved        ? Disapproved          ? Other