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Policy Manual – Disposition or University as Lessor of Real Property
Section 802 Disposition or University as Lessor of Real Property
Last Revised: 01/22/07; 03/18/02; 05/17/99; 3/14/11
Responsible Office: Facilities
Real Property is defined as land and/or the buildings or other improvements located on the land.
The University of Maine System may dispose of, lease or license use of real property when it has been determined that the action is in the best interests of the System.
The planning for Disposal of Real Property shall be administered by the University System Office and presented to the Board for approval, accompanied by all information required to indicate the conditions of the disposition, as well as findings as to the appropriateness of the action. Board approval covers those actions necessary to accomplish the objectives of the project. Leases or licenses for use of University real property if greater than $100,000 and/or greater than five (5) years must be presented to the Board for approval, with all documentation. Exceptions are granted for minor uses (value under $50,000) of University property to unrelated parties, e.g., leased for cell towers or environmental monitoring equipment, or for easements and rights-of-way granted to public entities.
An annual information report on acquisitions and dispositions of real property will be prepared for the Board of Trustees.
Administrative Practice Letters:
Section IV – C: Signature Authority
Section II – F: Sale or Lease of Real Property to Third Parties