UCLA DA 141.21: Administration of Faculty For-Sale Housing |
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Date: |
October 29, 2008
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From: | Administrative Vice Chancellor Sam J. Morabito |
To: | Executive Director, Campus Service Enterprises Bradley A. Erickson |
References: |
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Supersedes: | UCLA DA 141.18 (Administration of Faculty For-Sale Housing) to Director Erickson, dated 9/28/2005. |
- 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, determining 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.
This delegation is being reissued due to an organization change and the reissuance of one of the parent OP delegations (DA 2173), and there are no substantive changes to the delegation being superseded. Any redelegation of this authority shall be in writing with a copy to me and those listed below.
cc: | Chancellor Executive Vice Chancellor & Provost Vice Chancellor, Finance, Budget & Capital Programs Executive Vice President, Business Operations General Counsel & Vice President, Legal Affairs Universitywide Policy Coordinator Contracts Administrator, Capital Programs Manager, Administrative Policies & Delegations |