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Part of Minutes of the University of Kentucky Board of Trustees

6 I recommend that approval be given to increase the estimated cost of the building, including vaults and ele- vator, from $353,152.80 to $375,398.80 -- this figure to represent the basic building cost for the architects' fee, The actual contract construction cost was let for $424,112.00. Respectfully submitted, (Signed) Frank D. Peterson Comptroller. After general discussion concerning cost of the building, what is known as basic building cost, and the necessity for increasing the size of the building as enumerated, upon motion duly made, seconded and carried, the increased cost was approved and ratified, and the Comptroller was directed to process the necessary papers to pay the architect a fee of 3% for plans and specifications for the addition, and to include in the contract for supervision the total basic build- ing cost. G. Cubic Cost--Fine Arts Building. President Donovan read the following letter from Brock and Johnson, architects for the Fine Arts Building, correcting an error in statement carried in the press and mimeographed sheet of facts, concerning the cubic content and cubic cost of the Fine Arts Building. RE: FINE ARTS BUILDING UNIVERSITY OF KEWTUCKY LEXINGTN,7 KNTJCKT1- CUUQIC COST We wish to call to your attention a mimeographed copy entitled "GENERAL FACTS ABOUT THE FINE ARTS BUILDING" which was used during the dedication of this building. The opening paragraph reads as follows: "This is a building especially designed to house art, music, drama and speech ... 1,085,000 cubic feet at a cost of $1,380,000.00". According to this statement, it appears that the building cost $1.27 per cubic foot. The cubage figure of 1,085,000 cubic feet is a net cubage and does not include walls, roofs, floors, furred spaces, attic spaces, crawl spaces, entrances, parapets foundations, footings, etc.