November 18-19, 1999
ITEM 105-2703-R1199 Authorization to Purchase Real Property (415 Highland Park Drive); Montana State University-Billings
THAT:The Board of Regents of the Montana University System authorizes Montana State University-Billings to purchase the Billings property commonly referred to as 415 Highland Park Drive for an approximate cost of $150,000, subject to the approval by the Office of the Commissioner of Higher Education.
EXPLANATION: The property is within the area of purchase authorized by the Board of Regents in the 1998 Long Range Building Plan. Revenue generated by MSU-Billings= rental properties would be utilized for the purchase; no state funds would be expended. Three independent appraisals resulted in an average of $148,833. (Appraisals available for Board consideration.)