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PULLOUT: March at PENN 1998 Calendar

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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 (Almanac January 13); and Rosemary McManus as Secretary of the University (Almanac February 10).
  • 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 1997 merger.
  • 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