University Secretariat and Legal Counsel

University Secretariat and Legal Counsel

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Real Property Acquisition, Disposition, and Leasing

This includes any Contract in which the university buys, sells, or leases real property.

RELATED POLICIES (re: LEASING):  Space Planning (TBD)

RELATED PROCEDURE:  Real Property, Acquisition, Disposition, and Leasing Procedures

 
Contract Contract Value or Other Description Approval required prior to Contract execution Signing Officer
Real Property

Acquisition 

up to $1,000,000 Vice-Principals' Operations Committee Vice-Principal Finance and Administration
Over $1,000,000 Board of Trustees Vice-Principal Finance and Administration + Principal
Real Estate Property Disposition All values Board of Trustees Vice-Principal Finance and Administration + Principal
Leasing of Real Property as Lessee or Lessor up to 10 years AND up to $5,000,000 in total Contract value   Vice-Principal Finance and Administration (or designate) + Provost (or designate)
longer than 10 years OR more than $5,000,000 in total Contract value Board of Trustees Vice-Principal Finance & Administration + Provost