DA 2050

November 8, 1995

CHANCELLOR VANDERHOEF

Delegation of Authority--Administration of the Aggie Village Faculty For-Sale Project, Davis Campus

At the July 21, 1995 meeting, The Regents authorized the President in consultation with the General Counsel, to take certain actions to facilitate the subdivision, development, construction, and sale of residences in the Aggie Village Faculty Housing Project (Project), Davis campus.

Effective immediately, subject to the terms of the attached copy of the July 21, 1995 Regental authorization, as Chancellor of the Davis campus you are authorized to administer the Project, including the following specific responsibilities.

1.

To designate, describe, and subdivide into up to 37 lots that portion of the Davis campus previously approved by The Regents as the site of the Project, including the preparation of a map indicating such subdivision, provided that such designating, describing, subdividing, and recording are done in consultation with the General Counsel.

2.

To execute on behalf of the University, in consultation with the General Counsel and the Senior Vice President--Business and Finance, all documents required for the completion and sale of residences in the Project, including documents necessary for annexation of the site to the City of Davis.

3.

To approve, execute, and administer a license agreement with the project developer to carry out the approved development plan for the project, all such approvals to be done in consultation with the Senior Vice President--Business and Finance and the General Counsel.

4.

To establish policies on temporary rental of the residences, including leases with options to purchase, to conduct investigations regarding compliance with use and occupancy limitations, and to reassign leasehold interests in the event of noncompliance.

5.

To determine residence resale price limitations with respect to the resale of the residences in the Project pursuant to the provisions contained in the Project documents.

6.

To organize an owners' association under California law and to designate its initial officers and directors.

7.

To inspect the Project and exercise the rights of the University regarding operations and maintenance of the Project pursuant to the Project documents.

8.

To determine whether to exercise the University's rights to buy a residence under the provisions of the Project documents and, if such rights are exercised, to determine whether and to whom to assign the rights.

9.

To determine in consultation with the President, the increase, if any, in the ground rent to be payable under the Project documents.

10.

To select or approve, as appropriate under the Project documents, all initial and subsequent purchasers of the residences pursuant to the priority system authorized by the Project documents.

11.

To determine, in consultation with the Senior Vice President--Business and Finance and the General Counsel, upon subsequent sale of a residence, whether a new lease will be executed and for what term, not to exceed 99 years.

1.

Major changes in the design or in the permitted uses of the Aggie Village Faculty Housing Project shall be approved by The Regents.

2.

Establishment of any resale price exceeding the formula calculation must be approved by The Regents.

3.

All future amendments of the Project documents shall be approved by the Senior Vice President--Business and Finance, prior to their execution, in consultation with the General Counsel.

Any redelegation of these authorities shall be in writing with copies to the Senior Vice President--Business and Finance, the Special Assistant--Coordination & Review, and the General Counsel and Vice President for Legal Affairs.


Richard C. Atkinson

Attachment

cc:

Senior Vice President Kennedy
Assistant Vice President Bocchicchio
Special Assistant Gardner
General Counsel and Vice President Holst