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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 University’s 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 University’s
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.)