Space Leases and Purchases

600-19

This policy outlines delegations of authority and guidelines regarding the lease and/or purchase of real property for campus programs.

Lease

Real property rental agreement establishing the relationship between landlord and tenant which grants the use and possession of and responsibility for a designated property for a specified term.

Purchase

The acquisition of real property for ownership.

A. All leases and purchase transactions must be approved by the Office of the Vice Chancellor--University Advancement and Planning.

B. Lease and/or purchase transactions may be entered into which support academic, research, or public service programs or other activities of the University when no owned land or facility is available.

C. Proposed lease and/or purchase transactions must be in accordance with the campus space program, the campus Long Range Development Plan, University procedures for implementation of the California Environmental Quality Act, University relocation regulations, and related University policies on seismic safety, fire protection, and emergency plan implementation.

D. All funding proposals for leases must be approved by the appropriate dean or Medical Center Chief Executive Officer.

E. The Regents shall not be liable for non-University persons in lease agreements.

F. Lease agreements shall be written on the University's Standard Lease Form. Deviations from the standard lease provisions require review and approval by UC General Counsel as to legal form.

G. Regental authority for lease transactions is delegated through the Chancellor to designates in the Office of the Vice Chancellor--University Advancement and Planning for rental agreements in which rental payments do not exceed $250,000 per year and the term does not exceed ten years, including extensions.

H. Regental authority for lease transactions is delegated to the President for real estate agreements in which rental payments do not exceed $500,000 per year and the term does not exceed ten years, including extensions, and the total rent over the term does not exceed $10 million.

I. The Regents must approve all lease transactions that involve payments in excess of $500,000 per year or a term of more than ten years.

J. Purchase proposals are submitted by the Chancellor to the Senior Vice President Business and Finance for negotiation. Purchase or lease purchase transactions pertaining to real property may be consummated only when recommended by the UC President and approved by The Regents.

Contact Office of Origin (see above) with any questions.