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UCA Board of Trustees unanimous on $310,000 property acquisition

Posted: July 22, 2014 - 12:38pm

The board of trustees of UCA hosted a teleconference to discuss contract reviews, Board Policy No. 511, and discussion of eminent domain.

A draft budget for contract review was released for review and was discussed. Two contracts were proposed, one with 4 Hims, LLC and Blackboard Inc. According to Board Policy No. 416 all contracts must be reviewed and approved if it exceeds $250,000 or the terms exceed one year.

4 Hims, LLC will enter a seven-year contract with UCA for the university to lease office space at 2125 College Ave. totaling $37,200 per year and $3,100 per month.

During discussion of the 4 Hims, LLC rental space, board member, Brad Lacy questioned the reasons why UCA did not consider a house that was already owned by the university and in addition did not consider other avenues.

“We have considered other alternatives, but we have found that the parking situation would make it difficult for staff to access the building,” said UCA President, Courtway.

Courtway continued to explain that the location is near to the campus and will allow the university of foothold if the board approved further expansion where UCA can purchase the entire complex for their use.

As the board continued with their agenda, the discussion of two properties, 315 Western Ave and 2302 Bruce Street. The first location, 315 Western Ave., has been purchased for $310,000 with a 99 year leasing agreement for one dollar per year and temporary rent-free housing for 2-3 years.

While the first location took the offer of land acquisition, the Bruce Street location, owned by the Wesley Foundation, a campus ministry, declined the original $460,000 offer plus a 99-year leasing agreement and temporary rent free housing. The Wesley group made a counter offers for $575,000. Upon this request, the board was approached in order to continue negotiation and proceed with Eminent Domain Proceedings on the property.

All agenda items passed unanimously.

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justwantdanews
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justwantdanews 07/23/14 - 11:37 am
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And so it continues . . .

I can't believe the Wesley Foundation thought they were going to get over half a million dollars for that property! Even $460 was too much. They must be drinking too much communion wine. It's the UCA purchasing curse. If people know UCA wants to buy anything, they jack up the price!

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