Telephone (859) 257-8649
1500 Bull Lea Rd, Suite 106 · Lexington, KY 40511

Off-Campus Leasing

Off-Campus Space Needs

Campus departments, colleges and business units may have the need to lease off-campus space for a variety of reasons.  Real Estate Services is tasked with facilitating this process and will assist campus units in navigating this complex process.  The leasing process can be very cumbersome and the time needed is generally based upon the annual cost of the lease.  The following guidelines are provided as a reference to indicate an approximate time frame involved in leasing real property:

Annual Lease Cost Approval Authority Level Estimated Time Needed
Less than $100,000 EVP for Finance and Admin. 3 – 6 Months
$100,000-$199,999 Board of Trustees and CPBOC (Frankfort) 6 – 12 Months
Over $200,000 Line item authority in state executive branch budget bill 1 – 3 Years

The University is required to follow very strict state statutes and policies when leasing real property.  For this reason it is critical that any unit desiring additional space follow the below process to ensure that the University does not inadvertently deviate from state law.

Steps in the process are as follows:
  1. Complete Space Request Form.
  2. Evaluate existing space resources through the appropriate space management office to ensure University resources are not already available.
    • Provost Office of Resource Management – 257-1063
    • UK HealthCare Facilities Planning – 323-8589
    • UK Facilities Management – 257-5929
  3. (Required for leases over $200,000) Coordinate with appropriate space management office (above) to ensure specific line item authority exists within the Kentucky executive branch budget bill.
  4. Obtain written approval on the space request form from the Provost or appropriate EVP or his/her designee.
  5. Forward the completed space request form to Real Estate Services.
  6. Designated unit representative works with Real Estate Services' staff to advertise, inspect proposed real property, and negotiate lease.
  7. Real Estate Services processes the completed lease through Facilities Management and UK Legal Office for intermediate approval.
  8. (Required for leases over $100,000) Real Estate Services completes necessary documents to obtain authorization from the University of Kentucky Board of Trustees and the Kentucky Legislative Research Commission Capital Projects and Bond Oversight Committee (CPBOC) in Frankfort.
  9. Execution of the lease by the Executive Vice President for Finance and Administration
Public Registry:

Existing lease space modification information is available by appointment at the University of Kentucky Real Estate Services’ office. From time to time, the University may need to modify an existing lease which will result in the payment of a square foot rate for the leased space which is greater than the square foot rate contained in the original lease. KRS 56.813(4) requires that this information be made available for public inspection and comment.

Kentucky Revised Statutes (KRS): Applicable Links

KRS 56.803 – State leasing requirements
KRS 56.805 – Emergency leasing provisions
KRS 56.806 – Terms of leases
KRS 56.813 – Request for additional space
KRS 56.823 – Requirement to report leases to Capital Projects and Bond Oversight Committee
KRS 56.832 – Property leasing in foreign jurisdictions
KRS 48.111 – Requirement to have line item budget authority for leases in excess of $200,000 annually
 

Copyright © 2014 University of Kentucky Real Estate Services, a division of Facilities Management. · An Equal Opportunity University · Email