EVPECC Council Minutes for May 19^th, 2005

 

Attendees:

 

Lolita Bland, Rheumatology & Immunology      

Missy Brads, Budget

Arlene Buynak, Athletics/Intramural Rec.

Keith Carter, Housing

Alan Cohn, Human Resources

Susan Collins, Dining

Gale Ferguson, Presidents Office

Rayshon Harris-Tibbs, Human Resources

Ruby Hutchinson, Parking & Transportation

Dawn Jacobs, Internal Audit

Kathleen Jump, EVP-COO

Bill Niebel, ITC

Melanie Prince, Business Operations

Beth Reinhard, Human Resources

Jon Rice, Procurement

Mary Russell, Printing & Copying

Paulette Vining, Police

 

Program:

 

 

Council Business

 

I.                   Old Business:

The March minutes were approved for the website.

Missy has been doing a great job updating the new website.

 

 

Guest Speaker

 

Tim Rose, Chief Executive Office, University of Virginia Foundation.

                                    http://www.uvafoundation.com/

 

The UVA Foundation’s main focus is in Real estate. They became involved in a minted coin with Iceland for the Leifur Ericksson Foundation. This was a $1.00 coin that sold for $10.00. The proceeds went into scholarships.

 

The Foundation had 21 transactions for the fiscal year ending June 30^th, 2004. The Foundation will buy and sell real estate at UVA’s request.

 

Real Estate Holdings

                       

                        Homes 18                                                        Apt Units 247

                        Farms 7                                                            Gift Properties 10

                        Office Bldg 17                                                 Restaurants 5

                        Hotels 2                                                           Ground Leases 3

                        Sports Ctr. 1                                                    Chapels 2

                        Research Parks 2                                             Ex. Hospital 1

                        Golf Course 1                                                   Grave Yards 5

                        Gas Station 1

 

 

Some of the Real Estate the foundation is involved with are:

 

The Currie Farm, which was donated to the university. Proceeds from the sale of the property go to UVA.

Colonnades and Westover have a 95 year ground lease with the Marriot. They pay a base rent and share of revenues. Any income received goes to buy more property.

Fraternity Houses that were falling apart but were covered by the Historic Renovations Commission were bought in the mid 80’s. There were about 20 houses bought at that time. Over time the Fraternities were sold back to the Alumni of that Fraternity. The Foundation continues to provide maintenance to the Fraternities.

 

The Emerging Technology Center is on 29 North adjacent to the Airport. There are labs available to professors for research.

 

The John Kluge Estate Morvan House and 7400 acres will go to the University after John Kluge passes away. 10% of the land, 740 acres will be protected under conservation easement forever. Of  the 7400 acres ½ has been sold to wealthy people who put it into conservation easement  to drop the value and use as a financial loss on their tax returns. This also protects the land from development.

 

Arlene mentioned this seems to be a lot of money flowing within the university, is this typical of other universities? Tim seemed to think this was more common amongst larger universities, such as, Texas, Minnesota, and Georgia.  Jon asked if university property was tax exempt? The university does pay some tax depending on the function of the property.

 

 

Reports

 

 

Kathleen Jump said we’re expecting 30,000 people for finals. Dr.Kim was a graduate of the class of 1950 Medical School and will be the guest speaker.  The Rolling Stones will be playing at Scott Stadium in Oct. Tickets will go on sale May 20^th. The new budget for next year is approximately 1.88 billion dollars; this includes Academic, Medical and College of Wise.  There is a retreat scheduled for June 22 for Councils, networking and sharing of ideas. Leonard Sandridge was very pleased to see all councils working together regarding the increase substitution of Recreation facilities.

 

New Business:

 

I.                   Bill Niebel suggested an area on our website for current and upcoming events. This would help to reduce repeated e-mail.

II.                Arlene would like ideas for future guest speakers.

III.             Nykki Crtitzer would like at least 10 questions for the walking tour of Student Housing.

 

Our next Council meeting will be held on June 16^th, 2005 from 1:30p.m.-3:00p.m. in room 481 in Newcomb Hall.