|UCLA DA 140.72: Negotiation, Approval, and Execution of University-Related Real Property Rental Agreements (Leases)|
September 03, 2015
|From:||Vice Chancellor & CFO Steven A. Olsen|
|To:||Executive Director, Campus Service Enterprises Bradley A. Erickson|
|Supersedes:||UCLA DA 140.62 (Negotiation, Approval, and Execution of University-Related Real Property Rental Agreements (Leases)), to Executive Director Erickson, dated 1/22/2013.|
- the term of the Rental Agreement does not exceed 10 years, regardless of rent amount, excluding options when the University is the lessee, but including options granted by the University as the lessor;
- the Rental Agreement consideration for the initial year does not exceed $400,000;
- the Rental Agreement is not a capital lease, or a lease-purchase or similar transaction by which the University will ultimately take title to the property;
- the Rental Agreement does not involve the assumption by the University of liability for the conduct of persons other than University officers, agents, employees, students, invitees, and guests, except that this restriction does not apply if, under the Rental Agreement, the University assumes responsibility for liability resulting from the condition of leased property that the University is obliged to maintain (see Regents Standing Order 100.4(dd)(9)), or as otherwise authorized by The Regents;
- the indemnity and insurance provisions of the Rental Agreement have been approved by the campus risk manager;
- the Office of the President Real Estate Services Group (RESG) and OGC must review and approve first right of offer or refusal or any purchase option language, if included in a Rental Agreement; and
- the campus lease practitioner shall complete and retain in the official lease file the attached checklist for Rental Agreements prepared pursuant to this delegated authority (“Lease/License Checklist”). The campus lease practitioner shall also send a copy of each fully executed Lease/License Checklist to RESG.
Real property Rental Agreements, ancillary documents and amendments that do not meet the conditions set out in this delegation must be submitted for approval and execution in accordance with the Standing Orders of The Regents. The campus shall be the office of record for original executed Rental Agreements and amendments thereto executed pursuant to this delegation.
In order that I may submit a report to RESG annually, by July 31st, you shall certify and submit to me such report listing each Rental Agreement approved and executed pursuant to this delegation during the preceding fiscal year, including total lease space, total cost of leased space and average cost/square foot, and attest that all terms referenced in this delegation and the attached Lease/License Checklist have been satisfied.
This delegation is being reissued due to an organization change and to increase the initial year Rental Agreement limit from $250,000 to$400,000. Any redelegation shall be in writing with a copy to me and those listed below.
Executive Vice Chancellor & Provost
Vice Chancellor, Legal Affairs
Manager, Administrative Policies & Delegations