Board of Regents

01-7-92minutes

Board of Regents

OFFICIAL MINUTES

Special Board of Regents' Meeting
January 7, 1992
Audio Conference

Regents Present :

Anchorage

Robert Williams, President

Virginia W. Breeze

Sharon D. Gagnon - excused at 10:00 a.m.

Joseph R. Henri

Fairbanks

Morris Thompson, Vice President - joined at 9:29 a.m.

Michael P. Kelly

Jerome B. Komisar - Executive Officer and President of the

University of Alaska

Juneau

Eric Forrer

Ketchikan

Lew Williams, Jr.

Prudhoe Bay

Mark Helmericks, Treasurer - excused at 10:00 a.m.

Regents Absent :

Susan A. Stitham, Secretary

Tim Lamkin

In Attendance :

Marshall Lind, Chancellor, University of Alaska Southeast

Joan Wadlow, Chancellor, University of Alaska Fairbanks

William R. Kauffman, Vice President and General Counsel

Brian Rogers, Vice President for Finance

Gerald Neubert, Executive Director, Facilities Planning & Construction

Jim Lynch, Associate Vice President for Finance

Michael Rice, Acting Vice Chancellor for Administration, UAF

Harris Shelton, Vice Chancellor for Student Affairs, UAF

John Dickinson, Director, Educational Real Estate

Kristi Sherman, Senior Property Manager, SW Land Management

1. Call to Order

Board President Williams called the meeting to order at 9:10 a.m.

2. Adoption of the Agenda

The agenda was passed with no opposition.

PASSED

"The Board of Regents adopts the agenda as presented.

1. Call to Order

2. Adoption of the Agenda

3. Sale of Yak Estates in Fairbanks, Alaska

4. University of Alaska Anchorage Mining and Petroleum Training Service (MAPTS) Fire Training Center Lagoon Cleanup - Approval of Schematic Design and Authority to Bid and Award a Contract

5. Other Items of Concern to the Board of Regents

6. Adjourn

This motion is effective January 7, 1992."

3. Sale of Yak Estates in Fairbanks, Alaska

As a result of a May 1991 university housing management study recommending disposal of the 96-unit Yak Estates housing complex, the administration decided to solicit proposals for the sale of Yak Estates.

The availability of Yak Estates for purchase was extensively advertised and marketed throughout Alaska and in Seattle, Washington. The administration received several inquiries but only two proposals, one of which is deemed to be acceptable at this time. The Agreement to Purchase which was negotiated with the proposer contains the following general terms: 1) The Buyer assumes the university's $1,860,000 mortgage from HUD with HUD granting a full release to the university; and 2) The university pays $850,000 into an escrow account controlled by HUD for renovation and repair of the Yak Estates complex. Said funds will not be transferred until the assignment has been approved by HUD; and 3) After the apartments have been renovated and repaired, the university will guarantee the revenues of 48 of the apartments for a five-year term at a fixed below market rate. In the unlikely event that none of the university designated apartments are occupied during this five-year term, the cost to the university for the apartments will be $398,400 per year. Assuming a conservative 75 percent occupancy rate, the cost to the university for the apartments will be approximately $99,600 per year.

The administration has determined that the sale of Yak Estates, in accordance with the proposed Purchase Agreement, is the most cost effective means to dispose of the housing complex and the university's related financial obligations.

The Board discussed the options submitted by the administration for the disposition of Yak Estates, including default, renovation, and the details of the two proposals.

Regent Michael Kelly moved, seconded by Regent Henri that the Board of Regents go into executive session. The motion passed with Regents R. Williams, Breeze, Forrer, Gagnon, Helmericks, Henri, Kelly, Thompson, and L. Williams voting in favor that:

PASSED

"The Board of Regents goes into executive session in accordance with the provisions of AS 44.62.310 to discuss matters relating to real property, this topic being a subject the immediate knowledge of which would have an adverse effect on the finances of the university. The session shall include members of the Board of Regents, President Komisar, Vice President and General Counsel Kauffman, and such other university staff members as the president may designate and shall last approximately 20 minutes. Thus, the open session of the Board shall resume in this room at approximately 10:20 a.m. A.S.T. This motion is effective January 7, 1992."

The Board of Regents went into executive session at 10:00 a.m.

The Board of Regents returned to public session at 10:20 a.m.

Board President Williams announced that the Board of Regents just concluded an executive session lasting approximately 20 minutes, in accordance with the provisions of AS 44.62.310, to discuss matters relating to real property, this topic being a subject the immediate knowledge of which would have an adverse effect on the finances of the university.

Regent Forrer moved, seconded by Regent Helmericks and passed with Regents R. Williams, Breeze, Forrer, Kelly, Thompson, and L. Williams voting in favor; and Regent Henri voting in opposition that:

PASSED

"The Board of Regents approves the Yak Estates Purchase Agreement, which agreement has been negotiated and executed by administration. The Board of Regents authorizes the President, Vice President for Finance, and Associate Vice President for Finance to execute all documents necessary to sell Yak Estates in accordance with the terms and conditions of the Agreement. This motion is effective January 7, 1992."

4. University of Alaska Anchorage Mining and Petroleum Training Service (MAPTS) Fire Training Center Lagoon Cleanup - Approval of Schematic Design and Authority to Bid and Award a Contract

PROJECT SCOPE:

The Alaska Department of Environmental Conservation informed the university that the lagoon on the old MAPTS fire training site must be cleaned. They will not allow the lagoon to remain contaminated with only a guarantee from the university that no activity will take place. The Board previously approved a cleanup of the contaminated uplands at the April 19, 1991 meeting.

This project will remove contaminated water and sludge from the existing lagoon at the old fire training site. A contractor will remove pieces of ice from the frozen lagoon and the ice will be tested for contamination. If the ice is not contaminated, it will be left on the site. (Testing has shown that contamination is in the sludge below.) After the ice is removed, the sludge will be scraped from the bottom of the lagoon and put in bioremediation cells. Further testing of this material will determine the types of chemicals to be added to the contaminate soil and the frequency required of mixing the soil for bioremediation to occur.

CONSULTANT:

The environmental/engineering consultant for this project is James M. Montgomery, Inc., selected according to Facilities Planning and Construction's formal selection process and approved by the Board of Regents at its December 15, 1989 meeting. The design manager is Dianna Durst.

FUNDING SOURCE:

The project is funded from the FY90 Capital Appropriation of $500,000.

PROJECT SCHEDULE:

Construction Begins: February 1, 1992

Construction Ends: April 15, 1992

Bioremediation Begins: May 1, 1992

Bioremediation Ends: September 3, 1995

Gerald Neubert, executive director of Facilities Planning and Construction reported on additional information received from ENSR Consulting and Engineering regarding bioremediation.

Regent Forrer moved, seconded by Regent Breeze, with Regents Breeze, Forrer, Henri, Kelly, Thompson, R. Williams, and L. Williams voting in favor that:

PASSED

"The Board of Regents approves the schematic design of the University of Alaska Anchorage Mining and Petroleum Training Service Fire Training Center Lagoon Cleanup project as presented and authorizes the university administration to award a construction contract within available funding. This motion is effective January 7, 1992."

5. Other Items of Concern to the Board of Regents

Regent Williams requested that all Board members attending the February 1992 Board of Regents meeting in Ketchikan, arrive the afternoon of Wednesday, February 19. Board members were asked to forward their flight information to the Office of Regents' Affairs as soon as possible.

Board President Williams announced a request to change the location of the June 1992 and September 1992 Board of Regents meetings. The request is to move the Finance, Facilities and Land Management Committee meeting in June 1992 to Cordova with the full Board meeting the following day in Valdez. The September 1992 meeting location would then be changed from Cordova to Fairbanks.

6. Adjourn

Board President Williams adjourned the meeting at 10:40 a.m.

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