A. Authority

This policy establishes the procedures that will be followed by the University of Oregon (University) to acquire, receive, hold, control, convey, sell, manage, operate, lease, lend, improve, and develop all real property of the University under the control of the Board of Trustees (Board) ), herein referenced as “Real Estate.”

B. Definitions

All definitions in this Policy have the meanings set forth in the UO Procurement and Contracting Code Policy 580.061 (P&C Code”) unless the context requires otherwise or except as stated. Delegation of authority for real estate transactions is also described in the P&C Code.

C. Space Use Planning

The university shall establish space use objectives and standards consistent with the university’s mission. The objectives and standards shall ensure that space allocation and usage are consistent with other relevant university policies and in alignment with the university’s strategic plans and goals. They shall apply to all university owned, leased, and managed properties.

The Campus Planning Office in Campus Planning and Facilities Management, working with the Provost’s Office, is responsible for establishing and managing space use objectives, standards, and procedures.

D. Records

The University will maintain the official records of all documents that affect real property under its control and management. Documents affecting real property include, but are not limited to, all instruments that acquire, transfer, sell, or alter the character of land.

E. Purchase of Real Property

(1) All purchases of real property will be for the present or future development of the University.

(2) Legal title to all real property purchased must be taken and held in the name of the State of Oregon.

(3) The President is delegated the authority to execute conveyances for the purchase of real property after the following have been performed to satisfaction of the President:

(a) Obtain at least one appraisal by a licensed and experienced real estate appraiser estimating the fair market value;

(b) Complete an environmental assessment and determine that any risk associated with the real property is reasonable;

(c) Determine that sufficient ongoing revenues are available to operate and maintain the property

(4) If the consideration for the purchase is $5,000,000.00 or more, the President must receive the prior approval of the Board or an appropriate standing committee of the Board.

F. Gifts of Real Property

(1) Legal title to all real property gifted to the University must be taken and held in the name of the State of Oregon.

(2) The President is delegated the authority to execute conveyances for the gift of real property after the following have been performed to satisfaction of the President:

(a) Complete an environmental assessment and determine that any risk associated with the real property is reasonable under the circumstances;

(b) Determine that sufficient ongoing revenues are available to operate and maintain the property.

G. Condemnation

Acquisition of real property by condemnation will be conducted in accordance with ORS Chapter 35 and must be approved by the Board.

H. Sale of Real Property

(1) The President is delegated the authority to execute conveyances for the sale of real property after the following have been performed to satisfaction of the President:

(a) Obtain at least one appraisal by a licensed and experienced real estate appraiser estimating the fair market value;

(b) Verify whether any tax exempt financing was used to purchase or improve the property and, if any such debt remains outstanding, ensure continued compliance with IRS regulations.

(2) If the consideration for the sale is $5,000,000.00 or more, the President must receive the prior approval of the Board or an appropriate standing committee of the Board.

I. Easements

(1) The President is delegated the authority to execute easements and other nonpossessory interests in real estate.

(2) If granting an easement, the President shall first verify whether any tax exempt financing was used to purchase or improve the property and, if any such debt remains outstanding, ensure continued compliance with IRS regulations.

J. Use of Board Property

(1) If the University intends to lease or license real property owned by the Board and either (a) the term of the lease or license exceeds 50 days in total or (b) the arrangement was not set at fair market value, then prior to the execution of the lease or license, the President or designee will confer with the University’s treasury operations unit to determine compliance with bond restrictions.

(2) The President or designee will obtain prior approval of the Board or an appropriate standing committee of the Board for agreements permitting the construction on or renovation to Board-owned property if such improvements exceed $5 million during the term of the agreement. To obtain approval from the Board or an appropriate standing committee of the Board, the University must specify where funding for operations and maintenance will come from.

(3) If the University permits construction on or renovation to Board-owned property, the University must approve all plans and specifications prior to the commencement of work and obtain record drawings upon termination of the agreement or completion of the work, whichever first occurs.

(4) The University normally will not make available University buildings and other facilities to individuals for essentially private use or to outside organizations, unless approved in University policy or required by law. Exceptions will be made only if the proposed use is consistent with University policies and missions and the individual or organization fully reimburses the University for all appropriate costs.

K. Leases

(1) The President is delegated the authority to execute leases of real property.

(2) If the consideration for the lease is from $5,000,000 to $15,000,000 or the term of the lease is over 10 years but less than 15 years, the President must receive the prior approval of the Board.

(3) If the consideration for the lease is over $15,000,000 or the term of the lease is over 15 years, the President must receive the prior approval of the Board or an appropriate standing committee of the Board.

(4) Prior to executing an amendment to a lease, the President must receive approval under subsection (2) or (3) based on the consideration or term of the amended lease.