January 18-19, 2001

ITEM 110-2004-R0101  Authorization to Proceed with the Sale of Real Property Commonly Known as the Spring Creek Residence; Montana State University - Bozeman

 

THAT:        The Board of Regents authorizes MSU Bozeman to proceed with the sale of the Spring Creek Residence in accordance with Board of Regents Policy.

 

EXPLANATION:    MSU Bozeman currently holds two properties that serve as executive residences, the Gardner and Spring Creek Houses. As previously declared, MSU Bozeman desires to reduce its executive residence holdings to a single residence. MSU Bozeman previously secured Regental Authority to renovate the Gardner House as the sole Presidential Residence. The Gardner House Renovation Project and related landscaping alterations are scheduled for completion in late December 2000. Occupancy is scheduled for early January 2001. These actions free the Spring Creek Property to be prepared for sale.

In accordance with Board of Regent Policy 1003.6, MSU Bozeman will secure a current appraisal and, via public notice, secure requests for proposals. MSU Bozeman intends to place the property on the market during the spring to take advantage of heightened spring real estate activity. Final sale is contingent upon Regental and Board of Land Commissioners approval and MSU Bozeman will bring forth an agenda item at that time.