Trustees: Trammell Crow, Gutman Estate Resolved
- At the stated meeting of the full Board on Friday, the Trustees passed
resolutions that resolve two long-running public issues the making of a
contract with Trammell Crow to outsource Penn's facilities management,
subject to a satisfactory tax ruling; and the sale of the Gutman Estate
in Bucks County in an environmentally favorable arrangement, with proceeds
of $3.75 million earmarked for the Graduate School of Fine Arts.
- The action on the servicing agreement with TC Higher Education Services
reads, after a preamble,
- Resolved, that the EVP's negotiation, execution, and consummation
of the Preliminary Agreement and all other actions taken by the EVP or
other appropriate officer prior to the date hereof concerning the transaction
contemplated by the University, including, without limitation, all actions
taken with respect to the Preliminary Agreement be, and the same time hereby
are, approved and ratified and shall be deemed to have been taken with
the full and proper authorization of the Trustees.
- Further resolved, that upon receipt of a satisfactory tax ruling,
the execution by the EVP and implementation of the Nine Year Agreement
or of such other agreement and documents as may be necessary or desirable
to accommodate the tax ruling or the University's interests, with such
changes as the EVP or other appropriate officer approves (such approval
to be evidenced conclusively by the execution and delivery of the Nine
Year Agreement or such other agreement and of all documents relating thereto
on behalf of the University), are authorized.
- Schattner Center: The Trustees also voted name the new center
planned for the School of Dental Medicine in honor of an alumnus and supporter,
Dr. Robert Schattner, D '48. The Robert Schattner Center will be a state-of-the-art
facility for patient care and student education at 40th and Locust on what
is now the Levy Building parking lot. Groundbreaking is scheduled for fall,
a School spokesperson said after the meeting.
- In other actions the trustees:
- Confirmed the appointments of Dr. Samuel Preston as Dean of SAS (see cover);
Omar Blaik as Vice President for Facilities Services and Contract Management
January 13); and Rosemary McManus as Secretary of the University (Almanac
- Approved financial resolutions including those for Annenberg Public
Policy Center and related renovations at $15 million, and the design of
a chilled water plant on Murphy Field, in anticipation of increased need
as Medicine's BRBs (Basic Research Buildings), Wharton's upcoming academic
buildings, Sansom Common, and other new facilities come on line. Separately
they approved $1.2 million to connect the Small Animal Hospital to the
new chilled water loop.
- Approved the selection of Coopers & Lybrand as independent auditors.
- Approved both operating and capital budgets for the Pennsylvania Hospital
of the University of Pennsylvania Health System for 1998, reflecting the
- Authorized, in two separate actions, the refinancing of indebtedness
for the University and for the Health System. The Executive Vice President,
Vice President for Finance or Treasurer were designated as the responsible
administrators, subject to the powers granted to an Ad Hoc Committee made
up of Trustees Robert A. Fox, Paul F. Miller, Jr., James S. Riepe, and
Richard B. Worley.
- The President's Annual Report for 1997, a 48-page booklet containing
also the financial statements of the University for the period, was distributed
at the Stated Meeting.
Return to:Almanac, University of Pennsylvania, February
24, 1998, Volume 44, Number 23