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April
30, 2002 (Lexington, Ky.) -- The
University of Kentucky Board of Trustees today authorized
its administrators to negotiate a property transaction
which would include the exchange of UK's former printing
shop building for two office buildings located at
630-640 South Broadway.
If the
transaction is completed, UK will receive $875,000
for its former print shop and property designated
as 537-555-573 South Upper Street and 622-626 Lawrence
Street from WML Properties, LLC and Doonbeg, LLC.
These street addresses include the former UK print
shop and two outbuildings and the parking lots on
either side of the building. In the exchange, UK will
pay $1.5 million for the Broadway buildings.
Senior
Vice President for Administration Jack Blanton told
board members the two Broadway office buildings are
much more desirable for UK office space than the former
printing shop which had been a Kroger store in the
1950s and a Pic Pac grocery store in the 1960s.
Blanton
said the former printing building would require extensive
and expensive renovation to be converted into efficient
UK office space, whereas the Broadway office buildings
can be utilized immediately. The property exchange
coincides with the plans of WML Properties to redevelop
an area near UK that is bounded by Maxwell and Bolivar
streets and Upper Street and Broadway. The redevelopment
will include some single-family residences.
The UK
Board also set room and board rates for the 2002-2003
school year. The residence hall room and board rate
increases by $70 from $3,980 to $4,050. Housing-only
fees at Greg Page Apartments and fraternity houses
will increase $54 to $2,745. Housing-only fees for
residence halls will be $2,652 for the year (up $52)
and the dining card alone will cost $1,398 (up $18).
In other
action, the UK Board of Trustees:
-- Created
a new Department of Community and Leadership Development
in the College of Agriculture,
-- Established
new bachelor of science and bachelor of arts degrees
in mathematical economics in the College of Arts and
Sciences,
-- Changed
the name of the College of Allied Health Professions
to the College of Health Sciences,
-- Changed
the name of the Department of Spanish and Italian
to the Department of Hispanic Studies, and
-- Approved
the merger of the departments of German Studies, French,
Russian and Eastern Studies, and Classics into a single
Department of Modern and Classical Languages, Literatures,
and Cultures.
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