UCLA

Effective as of the date above, I hereby delegate to you, as Administrative Vice Chancellor, the authority to administer faculty for-sale housing including, but not limited to, units in the Colina Glen, Park Wilshire and Village Terrace residences, in Los Angeles. This authority covers execution of various agreements and contracts, and, as appropriate, relationships with individual owners associated with the ongoing administrative responsibilities for selected housing including, but not limited to:

• the execution of all approved documents on behalf of the University necessary for the sale and purchase of residences;
  
  
• the establishment of policies on temporary rental of residences including reassigning leasehold interests in the event of non-compliance;
  
  
• determining residence resale prices pursuant to established formulas and limitations;
  
  
• inspection of the property upon reasonable terms and conditions;
  
  
• determining whether to exercise any of the University’s options to buy under the provisions of the Residential Site Leases and, if an option is to be exercised, determing whether and to whom to assign the option;
  
  
• determining the increase, if any, in the ground rent under the Residential Site Leases;
  
  
• coordinating with the appropriate school in contacting prospective buyers when a residence becomes available for sale;
  
  
• determining, in consultation with General Counsel and the Treasurer upon the subsequent sale of a residence, whether a new ground lease will be executed and for what term, not to exceed 60 years.

The authority to make any major changes to the permitted uses of these facilities resides with The Regents. Modifications to the priority system of eligible purchasers of residences shall be approved by the President.

This delegation is being reissued due to an organization change and there are no substantive changes to the delegation being superseded. Any redelegation of this authority shall be in writing with copies to me and those listed below.