Revised 
M E M O R A N D U M 
 
   
  December 17, 2012 
 
 
TO: Members of the Board of Trustees 
 
FROM: Nancy L. Zimpher, Chancellor 
 
SUBJECT:  Sale of Real Property – Ulster County Community College  
 
 
Action Requested 
 
 The proposed resolution approves the sale and value of real property no longer useful to Ulster County Community College. 
 
Resolution  
 
 I recommend that the Board of Trustees adopt the following resolution: 
 
Whereas Ulster County Community College owns real property located at 3312 Route 209, Stone Ridge, New York,  consisting of a residential home located on 9.40 acres that has been used as the president’s residence (the “Property”); and  
 
Whereas the Property has been appraised at a minimum market value of $475,000; and 
 
Whereas  the Ulster County Community College Board of Trustees, by resolution dated June 20, 2012, has determined that the Property is no longer needed for college use and purposes; and  
 
Whereas the Ulster County Legislature, by resolution dated October 16, 2012, also determined that the Property was no longer needed for college purposes; now, therefore be it  
 
 
 
Resolved that the Property be, and hereby is, declared no longer useful or required for college purposes; and, be it further 
 
Resolved that the minimum market value of the Property of $475,000 be, and hereby is, approved. 
 
 
Background 
 
The Board of Trustees of Ulster County Community College has determined that the property located at 3312 Route 209, Stone Ridge, New York, is no longer needed as the president’s residence and seeks to sell the property.  Resolutions approving this action have been passed by the Ulster County Community College Board of Trustees and the Ulster County Legislature.  
 
Approval of the sale of community college real property and the minimum market value of the property is required by the State University’s  regulations set forth  at 8 NYCRR §603.5.