The UNC Policy Manual
600.1.3[R]
I. Authority. Pursuant to its authority under G.S. 116-3, 116-11(13), 116-12, 116-13, 116-31.12, and other North Carolina law, the Board of Governors adopted Section 600.1.3 of the UNC Policy Manual, Policy on Authority for Real Property, regarding the delegation of authority to acquire and dispose of real property. This regulation provides requirements for transactions entered into using general and additional delegated authority provided for under Section 600.1.3 of the UNC Policy Manual.
II. Definitions.
A.
Annual
Rental. Annual Rental shall mean the annual rental Value for the first year of
the Lease, provided however, that such Value is not artificially lowered in the
first year to circumvent authorizations as required by this regulation and
should not take into account rental concessions and
other incentives that reduce the first-year rental Value.
B.
Deed.
A Deed is a permanent conveyance of a real property interest. For the purposes
of this regulation, a demolition or permanent easement shall be considered an
acquisition or disposition by Deed.
C.
Designated
Real Property Representative. The Designated Real Property Representative is the person responsible for representing
the institution in real property transactions in compliance with this
regulation. For institutions with general delegated authority, the institution’s
Designated Real Property Representative shall be a representative from the
State Property Office. For institutions with additional delegated authority,
the institution’s Designated Real Property Representative shall be appointed as
provided in Section IV.A.3 here.
D.
Market
Value. Market Value shall mean the true value of the real property, that is the
price estimated in terms of money at which the property would change hands
between a willing and financially able buyer and a willing seller, neither
being under any compulsion to buy or to sell and both having reasonable
knowledge of all the uses to which the property is adapted and for which it is
capable of being used. Market Value may be demonstrated through an appraisal or
assessment, tax valuation, or other quantitative assessment of the value of the
property.
E.
Lease.
A Lease shall mean a lease, temporary easement, rental, or other time-limited
rights to have exclusive possession and control of real property. A Lease shall
not include (i) non-exclusive use agreements or other
similar instruments, or (ii) freely revocable, non-transferable licenses or
agreements that have a term of one-year or less (including renewals).
F.
Millennial
Campus. A Millennial Campus shall mean a property designated as a Millennial
Campus property as defined in Section 600.1.6 of the UNC Policy Manual, Policy on Millennial Campuses.
G.
Public
Entity. Public Entity means a constituent
institution, endowment fund, county, municipal corporation, local board of
education, community college, special district or other political subdivision
of the State and the United States or any of its agencies.
H. Value. Value for the purposes of acquisitions and dispositions of real property shall be the actual monetary value of the transaction. The Value of an asset to be demolished shall be defined as its actual insured replacement value, except that the Value of any asset that has been condemned by the Department of Administration shall be deemed to be $0.
III. General Requirements.
A.
All
instruments involving acquisition or disposition of an interest in real
property are entered into in the name of the constituent institution or UNC
System by and on behalf of the state, regardless of whether executed by the
governor, president, chancellor, or other official. Except for Leases executed
by the governor, all Lease instruments shall be executed by the chancellor or designee
following receipt of required authorization(s) as provided in Appendix A,
Tables 1 – 8, of this regulation.
B.
All
instruments involving acquisition or disposition of an interest in real
property must be timely filed with the Department of Administration.
C.
Real
property may not be sold, leased, or rented at less
than Market Value to any private entity that operates, or is established to
operate for profit.
1.
Real property may be sold, leased, or rented at
less than Market Value to a Public Entity.
2.
Real property may be sold, leased, or rented at less than Market
Value to a private, nonprofit corporation, association, organization or society
(including an Associated Entity organized pursuant to G.S. 116-30.20) where the
transaction is in consideration of public service rendered or to be rendered by
the nonprofit consistent with the mission of the constituent institution or the
University of North Carolina and the property will be used in connection with
the nonprofit’s tax-exempt purpose and not in connection with its unrelated
trade or business.
3.
The
chancellor shall approve all proposed below Market Value acquisitions and
dispositions by Deed or Lease. This approval may not be further delegated.
D.
Constituent
institutions shall make reasonable efforts to determine whether there is
state-owned or state-leased land suitable for their need prior to leasing
premises from non-state entities.
E.
This
regulation applies to Millennial Campus property, provided however, that
acquisitions of real property by Lease on a Millennial Campus for a period of
10 years or less and dispositions of real property on a Millennial Campus for a
period of 99 years or less shall not require the approval of the governor and
the North Carolina Council of State. All provisions of the Centennial Campus,
the Horrace Williams Campus, and the Millennial Campuses Financing Act shall
apply to transactions on a Millennial Campus.
F.
This
regulation pertains to real property transactions of the constituent institutions,
but does not govern transactions by the board of trustees of the
endowment fund of the institution, organized pursuant to G.S. 116-36, or
Associated Entities, organized pursuant to G.S. 116-30.20. Notwithstanding the
foregoing, unless approved by the Board of Governors, any acquisition
disposition of real property undertaken by an endowment fund or Associated
Entity shall not materially alter the value or functionality of any State
property; further, any real property transaction undertaken by an endowment
fund or Associated Entity that will require an increase of state funds, tuition
revenue, or student fees must be approved in advance by the Board of Governors.
G.
This
regulation does not apply to real property transactions that are authorized pursuant
to applicable state law, including those authorities provided under G.S.
116-360.35 and G.S. 116-350.50.
H.
A
source of funds must be identified and secured to fully fund the proposed
acquisitions of real property by a constituent institution. Funds must be used
in strict compliance with state law.
I.
All
legal documents must be reviewed and approved by the constituent institution’s
attorney, an attorney for the UNC System Office, an attorney from the Attorney
General’s Office, or properly engaged outside counsel.
J.
The
availability of funds clause is required in all Leases. This clause shall not
be invoked to initiate a termination or material modification of a Lease
without the written approval of the president.
K.
All
real property transactions that require State Property Office approval shall be
documented and submitted for approval using the State Property Office forms.
All real property transactions that require president or Board of Governors
approval shall be submitted in a manner as prescribed by the UNC System Office.
All
real property transactions that require governor and Council of State approval
must first be approved by the chancellor, board of trustees, president (or
designee) and the Board of Governors, as may be applicable in accordance with
Appendix A, before being submitted for approval from the governor and Council
of State.
L.
Acquisitions
or dispositions of real property by Lease with an Annual Rental Value less than
$100,000 and a term of no more than three years may be undertaken, subject to
any required authorizations in Appendix A, Tables 1 – 6,
of this regulation, without the necessity of advertising for the required
premises. The process for acquisitions or dispositions of real property by Lease
is provided in Section V of this regulation.
M.
Subject
to Section VI below, acquisitions or dispositions of real property by Lease
with an Annual Rental Value of $100,000 or more or a term of more than three years
must comply with advertising and proposal requirements. The process for
acquisitions or dispositions of real property by Lease is provided in Section V
of this regulation.
N.
No
permanent improvements on leased premises may be made by the constituent
institution without the prior approval of the Board of Governors and the Department
of Administration. Notwithstanding the foregoing, for the purposes of this
prohibition, permanent improvements shall not include tenant improvements to
customize, upfit, or alter the interior of the tenant’s leased space for the
tenant’s specific needs and where the useful valuable life of the improvement
is intended to be for the term of the Lease. Examples of non-permanent tenant improvements
include interior walls, built-in furniture, lighting, signage, telecommunications,
security access systems, information technology conduit and infrastructure,
fiber conduit and cabling, paint, interior finishes, and finish carpentry. Examples
of permanent improvements include roof repairs; elevator lobby upgrades; renovations
to shared restrooms, common areas, and other spaces shared with other tenants;
window replacements; HVAC replacements that are for the building or that
include other leased spaces; structural building walls; parking lot
resurfacing; and other building improvements outside of the leased area, not
directly required or necessary to support the tenant improvements, or for the
benefit other tenants.
IV. Authorization of Additional Delegated Authority for Real Property Transactions. Upon request by the chancellor and recommendation of the UNC System staff, the president may delegate to the board of trustees of a constituent institution or the chancellor additional delegated authority to acquire and dispose of an interest in real property as provided herein. The president may revoke or suspend the additional delegated authority of a constituent institution or take other remedial action as the president deems necessary and appropriate in the president’s discretion.
A.
The
senior vice president for finance and administration, in consultation with the
senior vice president and general counsel, shall establish the process for requesting
additional delegated real property authority. The minimum criteria a constituent
institution must meet to receive and maintain additional delegated authority shall include, but not be limited to, the following:
1.
The
constituent institution has performed a written, comprehensive assessment and demonstrates
that it has the administrative, technical, and support
resources necessary to properly carry out the additional delegated
authority and the chancellor has certified this in writing.
2.
The constituent institution has a properly constituted and active Campus
Property Review Committee with responsibility for real property
transactions executed under additional delegated authority.
a)
The
Campus Property Review Committee shall be comprised of individuals with
sufficient technical expertise, strategic perspective, and executive authority
to perform the following duties:
i.             Review and approve real property
transactions that will be executed by the institution utilizing additional
delegated authority, including review of proposed terms, Market Value, and
determination of need.
ii.             Establish
standards and procedures for real property transactions that will be executed
utilizing additional delegated authority.
iii.             Ensure
compliance with applicable state law and leasing policies, including UNC System
policies and regulations and constituent institution policies, regulations, and
rules.
b)
The
functional composition of the Campus Property Review Committee shall be
proposed by the chancellor and approved by the senior vice president for finance
and administration at the UNC System Office.
c)
Changes
to the composition or individual personnel comprising the Campus Property
Review Committee shall be approved by the senior vice president for finance and
administration at the UNC System Office before proceeding with the execution of
any real property transaction that exceeds the general delegated real property
authority.
3.
The
constituent institution has appointed
a Designated Real Property Representative that is a staff member with substantial experience in managing commercial real estate transactions. The
Designated Real Property Representative shall have the following
responsibilities:
a)
Establish and enforce procedures that ensure compliance
with applicable state law and policies, regulations, and rules, including
procedures addressing the following:
i.             Review
the space needs analysis, Lease specifications, and proposed terms for
acquisitions by Lease
ii.             Review
the space needs analysis, Value, and proposed purchase price for acquisitions
by Deed
iii.             Review
the Value, justification, and proposed bids or pricing for dispositions by Deed
or by easement
iv.             Review
the proposed Lease terms, Value or Market Value for all dispositions by Lease
b)
Ensure
a space analysis consistent with the University
of North Carolina Space Planning Standards or the most current applicable
space planning standards adopted by the constituent institution is performed, and using an updated organizational chart for
those to be housed in the space, develops the space
needs analysis and lease specifications.
c)
Ensures
approval is obtained from the Campus Property Review Committee prior to soliciting
or obtaining proposals.
d)
Following
the review of responses to solicitations for compliance with the specified
requirements, conducts or oversees negotiations of real property transactions and makes recommendations to the Campus Property Review
Committee.
e)
Obtains necessary approvals from the Campus Property Review
Committee and such other persons and entities as required by Appendix A, Tables
1 - 8.
f)
Coordinates or oversees the preparation of the real
property transactional documents. Coordinate
with the campus
attorney’s office to ensure complete
legal review of all agreements, leases, or contracts
related to real property transactions.
g)
Coordinates
any required building code and occupancy inspections by the appropriate entities, or otherwise verifies that the proposed
space is in
compliance with applicable local, state, and federal codes.
h)
Ensures that property
acquired is properly insured prior to acceptance
by the institution.
4.
The
constituent institution has appropriate and sufficient technical and
professional staff with demonstrated capability in the development, evaluation,
and execution of commercial real property transactions.
5.
An
assessment team, assembled and led by the senior vice president for finance and administration, including the
senior vice president for legal affairs and general counsel (or designee), has
reviewed the constituent institution’s assessment, has performed an on-site or
virtual review of the capabilities appraisal, and has
recommended delegation to the president.
6. Constituent institutions will be reviewed for re-authorization pursuant to this regulation at least every five years.
V.
Process
for Acquisitions and Dispositions of Real Property by Routine Lease.
A.
Acquisition of Property by Lease with an Annual Rental
Value less than $100,000 and term of three years or less.
1.
The
institution will develop the space needs and proposed rental terms and obtain
informal written proposals that respond to the requirements.
2.
The
institution will review the written responses and make a recommendation to the
chancellor, or designee with signature authority.
3.
The
institution will review the rental terms, verify the funding, and coordinate
the preparation of the Lease.
4.
The
prepared Lease shall be reviewed and approved by a constituent institution or
UNC System Office attorney.
5.
The
chancellor or designee, or president or designee for UNC System Office, shall
execute the Lease.
B.
Acquisition
of Property by Lease of $100,000 or more in Annual Rental Value and term of ten
years or less.
1.
The
Designated Real Property Representative will develop the space requirements,
specifications, and other proposed rental requirements for the solicitation.
2.
The
Designated Real Property Representative will advertise the solicitation on the
State of North Carolina electronic vendor portal website. The solicitation shall run for at least five (5) consecutive days and
shall provide that proposals shall be received
by the Designated Real Property Representative at a specified time and
on a date that is no less than five (5) days beyond the last date the
solicitation was posted.
a)
For
Leases with a proposed Annual Rental Value of $1 million or less, the Designated
Real Property Representative will review the written responses and make a
recommendation to the Campus Property Review Committee.
b)
For
Leases with a proposed Annual Rental Value of more than $1 million, the Designated
Real Property Representative will review the proposals and select one or more proposals
for further review and consideration. The submitters of the selected proposal(s)
will be notified and asked to submit a best and final proposal. The Designated
Real Property Representative will review the final proposal(s) and make a
recommendation to the Campus Property Review Committee.
3.
In the event that no acceptable
proposals are received through online open solicitation, the Designated Real
Property Representative may solicit proposals through the open market.
Prior to acceptance of any open market proposal, a detailed justification shall
be submitted to the Campus Property Review Committee for approval.
4.
Upon
approval of the Campus Property Review Committee and other authorizations as
required by Appendix A, Tables 1 - 8, the Designated Real Property
Representative will review the rental terms, verify the funding, and coordinate
the negotiation and preparation of the Lease.
5.
The
prepared Lease shall be reviewed and approved by a constituent institution or
UNC System Office attorney.
6.
Except
for Leases executed by the governor, the chancellor or designee shall execute
the Lease following receipt of all required authorizations.
VI.
Process
for Acquisition of Real Property by Strategic Lease.
A.
Strategic
Lease. Upon request of the chancellor, Section V of this regulation may be
waived by the president where there is a strategic, unique, or site-specific
property and acquisition of the property is necessary and appropriate to take
full advantage of opportunities of strategic importance to the constituent
institution or the university. Leases executed pursuant to this process are
subject to the authorizations as provided in Appendix A of this regulation.
B.
The
chancellor’s request to waive Section V of this regulation must be submitted to
the senior vice president for finance with a written justification that
includes the reasons for using the strategic lease process. At a
minimum, the justification shall include the following:
1. The specific reason that the additional needed space is of strategic importance and the circumstances supporting the waiver of the routine lease process.
2. A description of the methodology used to determine the additional space need and available options and the analysis performed to determine that acquiring the required space outside of the routine lease process is in the best interest of the university.
C.
If
approved by the president, the constituent institution may proceed with the
acquisition of real property by Lease under the informal process as provided in
Section V of this regulation; provided however, the Lease must still be
authorized in accordance with Appendix A, Tables 1 – 4,
of this regulation.
VII.
Process
for Disposition of Real Property by Lease.
A. The constituent institution may dispose of real property by Lease contingent upon full compliance with applicable procedures and required approvals described herein as well as other relevant processes not inconsistent with these regulations.
B. Any proposed disposition of real property by Lease must be approved by the chancellor or designee. At a minimum, any proposal for disposition by Lease shall contain the following:
1. A written justification that details the reason(s) for leasing the space to an external lessee.
2. A description of any improvements or alterations (if any) to be made to the leased space at the request of the potential lessee.
C. Any disposition of real property by Lease shall be at or above Market Value, except as provided in Section III.C above.
D. Once authorized in accordance with Appendix A, Tables 1 – 2 and 5 – 6, of this regulation, a Lease will be prepared.
E. The prepared Lease shall be reviewed and approved by the constituent institution or a UNC System Office attorney.
F. Except for Leases executed by the governor, the chancellor or designee shall execute the Lease.
VIII. Process for Acquisition of Real Property by Deed.
A. The constituent institution may acquire real property by Deed contingent upon full compliance with applicable procedures and required approvals in accordance with Appendix A, Tables 7 and 8.
B. The Designated Real Property Representative, in coordination with the State Property Office, shall contact or cause to be contacted the property owner in writing to express the State’s interest in purchasing the property and obtain permission to conduct an appraisal and necessary due diligence.
C. The constituent institution shall be responsible for securing its own appraisal to determine the Market Value of the property. The Designated Real Property Representative shall coordinate or cause to be coordinated the appraisal of the property by a certified land appraiser.
D. Upon approval of the Campus Property Committee, the Designated Real Property Representative shall make or cause to be made an offer to purchase based on the just compensation value. If accepted, the Designated Real Property Representative shall prepare or cause to be prepared an option agreement or letter of intent to purchase.
E. The Designated Real Property Representative shall obtain other necessary approvals as provided in Appendix A prior to the transfer of title.
F. The Designated Real Property Representative shall coordinate with the State Property Office and other appropriate stakeholders to obtain a title opinion and conduct customary due diligence and for the preparation and execution of the Deed and other applicable closing documents.
IX. Process for Permanent Disposition of Real Property.
A. Disposition of real property by Deed shall be approved in accordance with Appendix A, Tables 7 and 8, based on Market Value. The institution shall be responsible for obtaining a reasonable and defensible estimate of the Market Value for a proposed disposition, which may include obtaining an appraisal for the determination of Market Value.
B. Disposition of real property by permanent easement shall be for Market Value except easements may be granted below Market Value or without consideration when the easement is for the benefit of the institution and is otherwise permitted in accordance with state laws and regulations.
C. Disposition of real property by demolition shall be approved in accordance with Appendix A, Tables 7 and 8, based on its Value.
D. The Designated Real Property Representative shall coordinate with the State Property Office and other appropriate stakeholders for the preparation and execution of the Deed and other applicable closing documents.
X. Reporting Requirements.
A. Constituent institutions shall report to the UNC System Office on all real property transactions executed under their delegated authority on an annual basis. The reports shall be submitted to the senior vice president for finance and administration by August 1 of each year. The UNC System Office will annually submit a compiled report to the Department of Administration of all real property transactions. The report shall include the following:
1. Property description including physical address, acreage, size, site improvements, and other relevant details.
2. Information on parties to the transaction including name of the person, business, or entity; address; contact person, and contact information.
3. Information on the transaction including the date of sale or execution date, Lease terms including initial term, Annual Rental Value, optional terms, escalation, and other details.
B. In addition to the annual report, constituent institutions without additional delegated authority shall report quarterly all real property transactions executed under general delegated authority to the senior vice president for finance and administration.
C. Constituent institutions shall also comply with any applicable reporting requirements as may be required by the Department of Administration.
XI. Other.
A.
Effective Date.
The requirements of this regulation shall be effective
on November 24, 2025.
B.
Relation
to Federal and State Laws and Policies. The
foregoing regulation as adopted by the president is meant to supplement, and
does not purport to supplant or modify, those statutory enactments, regulations, and policies which may govern
or relate to the subject
matter of this regulation.
APPENDIX A
Authority Tables
|
Table 1. Acquisition or Disposition of Real Property by
Lease |
|||||||
|
Constituent Institutions with General Delegated Authority |
|||||||
|
Annual
Rental |
Term
(including renewals) |
Chancellor |
Board
of Trustees |
President
(or designee) |
Board
of Governors |
State
Property Office |
Governor
and Council of State |
|
Less
than $100,000 |
3
years or less |
X |
|
|
|
|
|
|
Less
than $100,000 |
More
than 3 years and 10 years or less |
X |
X |
|
|
X |
X |
|
$100,000
to $999,999 |
10
years or less |
X |
X |
|
|
X |
X |
|
$1,000,000
to $1,999,999 |
10
years or less |
X |
X |
X |
|
|
|
|
$2,000,000
or more |
10
years or less |
X |
X |
X |
X |
|
|
|
$0 or
more |
More
than 10 years |
X |
X |
X |
X |
X |
X |
|
Table 2. Acquisition or
Disposition of Real Property by Lease |
|||||||
|
Constituent Institutions with
Additional Delegated Authority |
|||||||
|
Annual Rental |
Term (including renewals) |
Chancellor |
Board of Trustees |
President (or designee) |
Board of Governors |
State Property Office |
Governor and Council of State |
|
Less than $100,000 |
3 years or less |
X |
|
|
|
|
|
|
Less than $100,000 |
More than 3 years and 10 years or less |
X |
X |
|
|
|
|
|
$100,000 to $999,999 |
10 years or less |
X |
X |
|
|
|
|
|
$1,000,000 to $1,999,999 |
10 years or less |
X |
X |
|
|
|
|
|
$2,000,000 or more |
10 years or less |
X |
X |
X |
X |
|
|
|
$0 or more |
More than 10 years |
X |
X |
X |
X |
X |
X |
|
Table 3. Acquisition of Real
Property by Lease on Millennial Campus Property |
|||||||
|
Constituent Institutions with
General Delegated Authority |
|||||||
|
Annual Rental |
Term (including renewals) |
Chancellor |
Board of Trustees |
President (or designee) |
Board of Governors |
State Property Office |
Governor and Council of State |
|
Less than $100,000 |
3 years or less |
X |
|
|
|
|
|
|
Less than $100,000 |
More than 3 years and 10 years or less |
X |
X |
|
|
|
|
|
$100,000 to $999,999 |
10 years or less |
X |
X |
|
|
|
|
|
$1,000,000 to $1,999,999 |
10 years or less |
X |
X |
X |
|
|
|
|
$2,000,000 or more |
10 years or less |
X |
X |
X |
X |
|
|
|
$0 or more |
More than 10 years |
X |
X |
X |
X |
X |
X |
|
Table 4. Acquisition of Real Property by Lease on
Millennial Campus Property |
|||||||
|
Constituent Institutions with Additional Delegated
Authority |
|||||||
|
Annual
Rental |
Term
(including renewals) |
Chancellor |
Board
of Trustees |
President
(or designee) |
Board
of Governors |
State
Property Office |
Governor
and Council of State |
|
Less
than $100,000 |
3
years or less |
X |
|
|
|
|
|
|
Less
than $100,000 |
More
than 3 years and 10 years or less |
X |
X |
|
|
|
|
|
$100,000
to $1,999,999 |
10
years or less |
X |
X |
|
|
|
|
|
$2,000,000
or more |
10
years or less |
X |
X |
X |
X |
|
|
|
$0 or
more |
More
than 10 years |
X |
X |
X |
X |
X |
X |
|
Table 5. Disposition of Real
Property by Lease on Millennial Campus Property |
|||||||
|
Constituent Institutions with
General Delegated Authority |
|||||||
|
Annual Rental |
Term (including renewals) |
Chancellor |
Board of Trustees |
President (or designee) |
Board of Governors |
State Property Office |
Governor and Council of State |
|
Less than $100,000 |
3 years or less |
X |
|
|
|
|
|
|
Less than $100,000 |
More than 3 years and 10 years or less |
X |
X |
|
|
|
|
|
Less than $100,000 |
More than 10 years and 99 years or less |
X |
X |
X |
X |
|
|
|
$100,000 to $999,999 |
10 years or less |
X |
X |
|
|
|
|
|
$1,000,000 to $1,999,999 |
10 years or less |
X |
X |
X |
|
|
|
|
$1,000,000 to $1,999,999 |
More than 10 years and 99 years or less |
X |
X |
X |
X |
|
|
|
$2,000,000 or more |
99 years or less |
X |
X |
X |
X |
|
|
|
$0 or more |
More than 99 years |
X |
X |
X |
X |
X |
X |
|
Table 6. Disposition of Real
Property by Lease on Millennial Campus Property |
|||||||
|
Constituent Institutions with
Additional Delegated Authority |
|||||||
|
Annual Rental |
Term (including renewals) |
Chancellor |
Board of Trustees |
President (or designee) |
Board of Governors |
State Property Office |
Governor and Council of State |
|
Less than $100,000 |
3 years or less |
X |
|
|
|
|
|
|
Less than $100,000 |
More than 3 years and 10 years or less |
X |
X |
|
|
|
|
|
Less than $100,000 |
More than 10 years and 99 years or less |
X |
X |
X |
X |
|
|
|
$100,000 to $1,999,999 |
10 years or less |
X |
X |
|
|
|
|
|
$100,000 to $1,999,999 |
More than 10 years and 99 years or less |
X |
X |
X |
X |
|
|
|
$2,000,000 or more |
99 years or less |
X |
X |
X |
X |
|
|
|
$0 or more |
More than 99 years |
X |
X |
X |
X |
X |
X |
|
Table 7. Acquisition and
Disposition of Real Property by Deed |
|||||||
|
Constituent Institutions with
General Delegated Authority |
|||||||
|
Value |
Chancellor |
Board of Trustees |
President (or designee) |
Board of Governors |
State Property Office |
Governor and Council of State |
|
|
Less than $100,000 |
X |
|
|
|
X |
X |
|
|
$100,000 to $999,999 |
X |
X |
|
|
X |
X |
|
|
$1,000,000 to $1,999,999 |
X |
X |
X |
|
X |
X |
|
|
$2,000,000 or more |
X |
X |
X |
X |
X |
X |
|
|
Table 8. Acquisition and Disposition of Real Property by
Deed |
||||||
|
Constituent Institutions with Additional Delegated
Authority |
||||||
|
Value |
Chancellor |
Board
of Trustees |
President
(or designee) |
Board
of Governors |
State
Property Office |
Governor
and Council of State |
|
Less
than $100,000 |
X |
|
|
|
X |
X |
|
$100,000
to $1,999,999 |
X |
X |
|
|
X |
X |
|
$2,000,000
or more |
X |
X |
X |
X |
X |
X |