M E M O R A N D U M

		March 23, 2010

To:	Members of the Board of Trustees

From:	Nancy L. Zimpher, Chancellor

Subject:	Gift of Real Property�Schenectady County Community College

        I recommend that the Board of Trustees adopt the following resolution:
Whereas Schenectady County Community College wishes to accept the donation from Mrs. Catherine Kindl of real property located at 201 State Street, Schenectady, New York, in order to develop the building located at the site for use by the college; now, therefore, be it 
Resolved that the site of the real property located at 201 State Street, Schenectady, New York is approved for acceptance by donation by Schenectady County Community College; and be it further 

Resolved that the value of such property for purposes of determining the maximum amount of State financial aid for capital costs of the College be, and hereby is, approved to be $150,000. 


Background

	Schenectady County Community College seeks to accept the donation from Mrs. Catherine Kindl of a building located at 201 State Street, Schenectady, New York, and to renovate the building for use by the college.  Regulations of the State University provide that a community college may accept the gift of real property upon the approval of the donated site by the State University Board of Trustees (8 NYCRR �603.5(a)).  The resolution approves the site selection.


	To confirm that 201 State Street is a usable facility for the college, the college had professional engineers evaluate the existing condition of the building, who determined the building to be in sound condition and suitable for college use.   The new facility will provide a cost effective mechanism to provide much needed additional space for the college.   

        Two appraisals indicate the value of the property to be $150,000 and $180,000.  Regulations of the State University provide that the State University shall fix the value of property furnished by a local sponsor for the purpose of determining project costs and the maximum amount of State financial aid for a project (8 NYCRR �603.1(a)).  The resolution determines the value of the donated property for such purpose to be $150,000.
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        

O:\Resolutions\March 2010\Schenectady cc realty.doc	




Board Resolution	-2-	March 23, 2010