M E M O R A N D U M


							March 22, 2011


To:		Members of the Board of Trustees

From:		Nancy L. Zimpher, Chancellor

Subject:	Acquisition of Property – State University of New York College at Oneonta 


Action Requested

	The resolution authorizes the College at Oneonta to acquire real property from the State University College at Oneonta Foundation Corporation in order to accommodate future growth. 

Resolution

	I recommend that the Board of Trustees adopt the following resolution:

	Whereas it is necessary for the purposes of the State University College at Oneonta to acquire real property hereinafter described; now, therefore, be it

	Resolved that the real property consisting of vacant land on Ford Avenue, City of Oneonta, County of Otsego, State of New York (Tax Map # 288.14-1-44 and 288.14-1-52), owned by the State University College at Oneonta Foundation Corporation, be purchased for a sum not to exceed $70,000 as established by a proper appraisal, and an accurate survey and approval of title to said real property by the Attorney General; and, be it further 

	Resolved that the Chancellor, or designee, be, and hereby is, authorized to execute any and all documents, notices, maps, or any other instruments necessary or appropriate to effect the acquisition of title to and possession of such property.


Background

      In the fall of 2012, the SUNY College at Oneonta plans to break ground on a new townhouse-style student housing development.  This 
new facility will help the College meet residential demand, fill a gap in its current student housing portfolio and help the College avoid a competitive disadvantage in attracting and retaining academically well-qualified students.
      
      While the College controls most of the land necessary to begin the townhouse development, the acquisition of this and several other parcels will enable to project to realize its full potential.  
      
        



Board Resolution                                   -2-	March 22, 2011

Board Resolution0-2-0March 22, 2011