January 20-21, 2005
ITEM 126-2852-R0105 Authorization to Execute a Lease for Space in a Private Sector Facility; Montana State University-Great Falls College of Technology
THAT: The Board of Regents of the Montana University System authorizes Montana State University-Great Falls College of Technology to, following appropriate reviews and approvals, execute a lease for space in a private sector facility in order to locate two-year education and training to the underserved Gallatin Valley.
EXPLANATION: 1. The Bozeman/Gallatin Valley is the largest population center in Montana not served by its own affiliated or stand-alone two year campus.
2. Montana State University-Bozeman has as a stated goal in its Five Year Vision Document, AThe College of Technology B Great Falls will have a stronger presence on the Bozeman campus in order to better serve students= needs for entry level postsecondary course work and the business community=s vocational employment and training needs.@
3. The Montana State University-Great Falls College of Technology has served the area through workshop and associate degree programs located at its downtown Tech Center and by offering compensatory math to students on the Montana State University-Bozeman campus.
4. The demands of the state=s push to expand its two year programs in order to assist the state=s economy and role of the Gallatin Valley=s economy in the state call for expanded on-site two year programming.
5. The College proposes to enter into a ten year lease for 14,000+ square feet of space in the former Video Lottery Technology building, one block south of the campus on south Seventh Street. Annual lease will be in the neighborhood of $170,000 per year. Building improvements necessary to prepare the space for COT instruction are built into the cost of the lease. CFT Tenants, LLP is the lessor and currently leases space in the building to one MSU-Bozeman research program and a business with ties to MSU-Bozeman research.
6. The lease payments will be financed with tuition and general fund support generated by new SCH/FTE from two-year courses and programs.
7. Target date for initial use of space is August 1, 2005. Conversion of the open bay space needs to begin as soon as possible to meet this date.
8. This project requires authorization of the Board of Regents. Final lease document(s) will be executed by the Dean of the College upon the review and approval by MSU and MUS Legal Counsel, MSU President and Commissioner of Higher Education.