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					                          BOARD OF REGENTS* and its
                    INVESTMENT AND FACILITIES COMMITTEE
                    NEVADA SYSTEM OF HIGHER EDUCATION
                       UNLV Student Union, Ballrooms B & C
                         University of Nevada, Las Vegas
                       4505 S. Maryland Parkway, Las Vegas
                      Thursday, November 29, 2012, 3:00 p.m.

                      Video or Telephone Conference Connection to:
                              System Administration – Reno
                                2601 Enterprise Rd., Reno
                                Great Basin College – Elko
                 Berg Hall Conference Room, 1500 College Parkway, Elko

A video conference and/or telephone conference connection will be made to the Conference room
in the Reno System Administration building at 2601 Enterprise Rd., Reno, Nevada, and to Great
Basin College, 1500 College Parkway, Berg Hall Conference room, Elko, Nevada. Members of the
Board and/or the public may attend the meeting and provide testimony or public comment via the
video or telephone conference connection.


BOARD                            Dr. Jason Geddes, Chair                                _____
ROLL CALL:                       Mr. Kevin J. Page, Vice Chair                          _____
                                 Mr. Mark Alden                                         _____
                                 Dr. Andrea Anderson                                    _____
                                 Mr. Robert J. Blakely                                  _____
                                 Mr. Cedric Crear                                       _____
                                 Dr. Mark W. Doubrava                                   _____
                                 Mr. James Dean Leavitt                                 _____
                                 Mr. Ron Knecht                                         _____
                                 Mr. Kevin C. Melcher                                   _____
                                 Dr. Jack Lund Schofield                                _____
                                 Mr. Rick Trachok                                       _____
                                 Mr. Michael B. Wixom                                   _____


COMMITTEE                        Mr. Michael B. Wixom, Chair                            _____
ROLL CALL:                       Mr. James Dean Leavitt, Vice Chair                     _____
                                 Mr. Mark Alden                                         _____
                                 Mr. Cedric Crear                                       _____
                                 Mr. Ron Knecht                                         _____
                                 Dr. Jack Schofield                                     _____

         In addition to the Investment and Facilities Committee, this meeting is noticed as a meeting of
         the Board of Regents to allow other Regents who may wish to attend to participate.

NOTE:    Below is an agenda of all items scheduled to be considered. Notification is hereby provided that
         items on the agenda may be taken out of the order presented, two or more agenda items may be
         combined for consideration, and an agenda item may be removed from the agenda or discussion
         relating to an item on the agenda may be delayed at any time.
Investment and Facilities Committee Agenda                                                          Page 2
11/29/12


         In accordance with the Board of Regents’ Bylaws, Title I, Article V, Section 20, items voted on
         may be the subject of a motion to reconsider at this meeting. A motion to reconsider an item
         may be made at any time before adjournment of this meeting. Similarly, if an item is tabled at
         any time during the meeting, it may, by proper motion and vote, be taken from the table and
         thereafter be the subject of consideration and action at any time before adjournment of this
         meeting.

         *The Board of Regents, at its regularly scheduled meetings, meets concurrently with its
         Committees (the Audit Committee; the Academic and Student Affairs Committee; the Business
         and Finance Committee; the Cultural Diversity Committee; the Investment and Facilities
         Committee; the Health Sciences System Committee; and the Workforce, Research & Economic
         Development Committee). The Board’s Committee meetings take place in accordance with the
         agendas published for those Committees. Regents who are not members of the Committees may
         attend the Committee meetings and participate in the discussion of Committee agenda items.
         However, action items will only be voted on by the members of each Committee, unless a
         Regent is temporarily made a member of that Committee under Board of Regents’ Bylaws, Title
         1, Article VI, Section 6. The full Board of Regents will consider Committee action items in
         accordance with the Board of Regents’ agenda published for the current or for a subsequent
         meeting.

         In accordance with the Board of Regents' Bylaws, Title 1, Art. V, Section 13, a quorum may be
         gained by telephonic hookup.

         In accordance with NRS 241.020(6), support materials that are submitted to the Board of
         Regents’ Office and then distributed to the members of the Board of Regents after the mailing
         of this agenda but before the meeting, will be made available as follows: 1. Copies of any such
         supplemental support materials are available at the Board of Regents’ Office Reno, Nevada. A
         copy may be requested by calling (775) 784-4958; 2. Copies of any such supplemental support
         materials will be available at the meeting site.

         Reasonable efforts will be made to assist and accommodate physically disabled persons
         attending the meeting. Please call the Board office at (775) 784-4958 in advance so that
         arrangements may be made.
Investment and Facilities Committee Agenda                                           Page 3
11/29/12

1.     PUBLIC COMMENT                                          INFORMATION ONLY

               Public comment will be taken during this agenda item. No action
               may be taken on a matter raised under this item until the matter is
               included on an agenda as an item on which action may be taken.
               Comments will be limited to three minutes per person. Persons
               making comment will be asked to begin by stating their name for
               the record and to spell their last name. The Committee Chair may
               elect to allow additional public comment on a specific agenda item
               when that agenda item is being considered.

               In accordance with Attorney General Opinion No. 00-047, as
               restated in the Attorney General’s Open Meeting Law Manual, the
               Board Chair may prohibit comment if the content of that comment
               is a topic that is not relevant to, or within the authority of, the
               Board of Regents, or if the content is willfully disruptive of the
               meeting by being irrelevant, repetitious, slanderous, offensive,
               inflammatory, irrational or amounting to personal attacks or
               interfering with the rights of other speakers.

2.     CONSENT ITEMS                                         FOR POSSIBLE ACTION

        Consent items will be considered together and acted on in one motion unless an
item is removed to be considered separately by the Committee.

       2a.     MINUTES                                       FOR POSSIBLE ACTION

                      Request is made for approval of the minutes from the
                      September 6, 2012, meeting. (Ref. IF-2a)

       2b.     ACQUISITION OF REAL PROPERTY                  FOR POSSIBLE ACTION
               LOCATED AT 847 N. CENTER
               STREET, RENO, NV – UNR

                      President Marc A. Johnson requests approval to purchase
                      real property at 847 N. Center Street, Reno, Nevada for
                      $425,000. (Ref. IF-2b)

                      Fiscal Impact: Expenditure of $425,000 from the
                      Property Acquisition Account.
Investment and Facilities Committee Agenda                                           Page 4
11/29/12

2.     CONSENT ITEMS (continued)

       2c.     SALE OF MINING CLAIMS                         FOR POSSIBLE ACTION
               LOCATED IN THE STATE OF
               IDAHO – UNR

                      President Marc A. Johnson requests approval to sell six
                      patented mining claims in Blaine County, Idaho, for
                      $120,000, plus a 30% royalty on any future timber rights.
                      (Ref. IF-2c)

       2d.     POLICE SERVICES LEASE                         FOR POSSIBLE ACTION
               AMENDMENT – UNLV

                      President Neal J. Smatresk presents for approval a four-
                      year lease amendment with the option of renewing for two,
                      one-year terms, with Harmon Midtown Partners LLC, to be
                      effective March 1, 2013. UNLV Police Services will
                      occupy the property which is located at 1325 East Harmon
                      Avenue. (Ref. IF-2d)

                      Fiscal Impact: The terms of this amendment will reduce
                      the base rent and operations and maintenance expenses
                      from those paid under the terms of the existing lease by
                      $212,000 or 20% over the four-year term. Under the
                      proposed lease amendment the cost for the four-year term
                      is estimated to be $834,000.

       2e.     KUNV COMMUNICATIONS                           FOR POSSIBLE ACTION
               LICENSE AGREEMENT – UNLV

                      President Neal J. Smatresk presents for approval a ten-year
                      license agreement with KLAS, LLC, that will grant the
                      KUNV radio station use of the transmitter site. (Ref. IF-2e)

                      Fiscal Impact: The cost of the proposed license agreement
                      with KLAS, LLC, over the ten-year term, is estimated to be
                      $271,000. The terms of this new license agreement with
                      KLAS, LLC, will reduce the rate from those paid under the
                      terms of the existing license agreement with Telecom
                      Towers, LLC, by $298,000, or 48% over the ten-year term.
                      Federal grant funding and KUNV self-supported funds will
                      pay the license fees and utility costs due under the license
                      agreement.
Investment and Facilities Committee Agenda                                            Page 5
11/29/12

2.     CONSENT ITEMS (continued)

       2f.     SPACE STUDY INVENTORY AND                      FOR POSSIBLE ACTION
               UTILIZATION REPORTS

                      The Committee may approve acceptance of the updated
                      inventory and utilization of NSHE institution facilities
                      report submitted by Mr. Vic Redding, Vice Chancellor,
                      Finance and Administration. (Ref. IF-2f)

                      ESTIMATED TIME: 5 mins.

3.     ASSET ALLOCATION AND                                   FOR POSSIBLE ACTION
       INVESTMENT RETURNS

               Cambridge Associates will present a report on asset allocation and
               investment returns for the pooled endowment and pooled operating
               funds for the quarter ended September 30, 2012. The Committee
               will review how a change in asset allocation may impact
               investment returns and volatility within the pooled funds. The
               Committee may take action based on the report, including, but not
               limited to, making recommendations to the Board to change the
               asset allocation, and changes to the fund managers and strategic
               ranges for the pooled funds.

               ESTIMATED TIME: 15 mins.

4.     OPERATING POOL RESERVE UPDATE                             INFORMATION ONLY

               Ms. Ruby Camposano, Director of Banking and Investments, will
               report on the activities and the most current balance of the reserve
               account of the operating pool fund. In particular, the Committee
               discussion will focus on the amount held in the reserve account of
               the operating pool fund and its expected duration.

               ESTIMATED TIME: 5 mins.
Investment and Facilities Committee Agenda                                             Page 6
11/29/12

5.     DISTRIBUTION FROM ENDOWMENT                            FOR POSSIBLE ACTION
       FUNDS

               The Investment and Facilities Committee will discuss current
               NSHE distributions from the endowment fund, including the 4.5%
               spending rate and 1.5% management fee distribution, in relation to
               current investment allocation, projected returns, and Board policy
               (Handbook, Title 4, Chapter 10, Section 5). The Committee will review
               how changes to the policy on distribution may impact long-term
               objectives. The Committee may take action based on the
               discussion, including, but not limited to, revising the policy on
               distributions from the endowment fund, including the 4.5%
               spending rate and the 1.5% management fee distribution. (Ref. IF-5)

               ESTIMATED TIME: 40 mins.

6.     SYSTEM ADMINISTRATION                                  FOR POSSIBLE ACTION
       BUILDING, LAS VEGAS

               Chancellor Daniel J. Klaich requests approval of a purchase
               agreement and financing plan for a System Administration
               Building located at East Rochelle Avenue and South Maryland
               Parkway, Las Vegas. (Ref. IF-6)

               Fiscal Impact: The purchase is approximately $3,325,000
               (subject to final construction plans) which will be financed from an
               inter-institutional loan at 3.25% for 25 years. The debt service, as
               well as O/M costs associated with this building, will be paid from
               existing budgeted lease funds.

               ESTIMATED TIME: 15 mins.
Investment and Facilities Committee Agenda                                           Page 7
11/29/12

7.     CAMPUS DEVELOPMENT - NSC                              FOR POSSIBLE ACTION

               President Bart J. Patterson requests approval to: 1) construct two
               buildings pursuant to the general terms approved by the Board; 2)
               implement a Special Building Fee of $150 per semester for
               students enrolled for more than three credit hours effective fall
               2013; 3) take this project before the Interim Finance Committee
               and/or Legislature to seek approvals as required under Chapter 353
               of NRS; and 4) delegate authority to the Investment and Facilities
               Committee to approve lease, ground lease, loan and other official
               documents as necessary to construct two facilities on the NSC
               campus through a lease/purchase arrangement. (Ref. IF-7)

               Fiscal Impact: Current projections for this project include a total
               project expense budget of $61.5 million to be financed over a 30
               year period of time.

               ESTIMATED TIME: 30 mins.

8.     SMITH CENTER IMPACT ON UNLV                             INFORMATION ONLY
       PERFORMING ARTS CENTER

               President Neal J. Smatresk will present a description of the UNLV
               Performing Arts Center activities and a preliminary assessment of
               how the program and activities will be complementary with the
               new Smith Center. (Ref. IF-8)

               ESTIMATED TIME: 15 mins.

9.     UNIVERSITY OF NEVADA SCHOOL OF                          INFORMATION ONLY
       MEDICINE LAS VEGAS CAMPUS

               Dr. Thomas L. Schwenk, Dean, University of Nevada School
               of Medicine (UNSOM), and Vice President, Division of
               Health Sciences, UNR, will update the Committee on the
               planning progress of the UNSOM Las Vegas campus.
               (Ref. IF-9)

               Fiscal Impact: At this time the item is informational only.
               Complete financial impact has not been assessed. The University
               of Nevada School of Medicine expended $88,325 for the initial
               planning services provided by JMA.

               ESTIMATED TIME: 25 mins.
Investment and Facilities Committee Agenda                                          Page 8
11/29/12

10.    SALE OF A PORTION OF UNIVERSITY                      FOR POSSIBLE ACTION
       OF NEVADA, RENO, MAIN STATION
       FIELD LABORATORY TO THE WASHOE
       COUNTY REGIONAL TRANSPORTATION
       COMMISSION – UNR

               President Marc A. Johnson requests approval of:
               1) The sale of 165.26 acres in the Main Station Field Laboratory
                  to the Washoe County Regional Transportation Commission
                  for $7,402,600.00, the resolution approving the sale, and
                  authorization for the Chancellor to sign documents necessary to
                  accomplish the sale; and
               2) The waiver of Board Resolution 81-8 with respect to the sale
                  proceeds from this sale so such proceeds can be used for the
                  purposes of further paying down remaining UNR Fire Science
                  Academy capital and operating debt and/or for use for UNR
                  capital improvements approved by the Board of Regents.
                   (Ref. IF-10)

               ESTIMATED TIME: 5 mins.

11.    SALE OF EXCESS WATER RIGHTS AT                       FOR POSSIBLE ACTION
       MAIN STATION FIELD LABORATORY
       IN RENO, NEVADA – UNR

               President Marc A. Johnson requests approval of:
               1) An option agreement for the sale of up to 961.86 acre feet of
                  water rights to Great Basin Land and Water, a non-profit
                  corporation, the resolution to approve the option agreement,
                  and authorization for the Chancellor to sign documents
                  necessary to accomplish the sales pursuant to the option
                  agreement; and
               2) The waiver of Board Resolution 81-8 with respect to the sale
                  proceeds from this sale so such proceeds can be used for the
                  purposes of further paying down remaining UNR Fire Science
                  Academy capital and operating debt and/or for use for UNR
                  capital improvements approved by the Board of Regents.
                   (Ref. IF-11)

               ESTIMATED TIME: 5 mins.
Investment and Facilities Committee Agenda                                           Page 9
11/29/12

12.    ECONOMIC DEVELOPMENT                                    INFORMATION ONLY
       ADMINISTRATION GRANT FOR RAGGIO
       PARKWAY IMPROVEMENTS

               DRI President Stephen G. Wells and TMCC President Maria C.
               Sheehan will present for information an overview of a U.S.
               Economic Development Administration grant for improvement to
               and reconstruction of Raggio Parkway, a campus street that
               provides access to the DRI and TMCC Reno campuses.
               (Refs. IF-12(a) & IF-12(b))

               ESTIMATED TIME: 10 mins.

13.    NEW BUSINESS                                            INFORMATION ONLY

               Items for consideration at future meetings may be suggested. Any
               discussion of an item under "New Business" is limited to
               description and clarification of the subject matter of the item,
               which may include the reasons for the request.

14.    PUBLIC COMMENT                                           INFORMATION ONLY

               Public comment will be taken during this agenda item. No action
               may be taken on a matter raised under this item until the matter is
               included on an agenda as an item on which action may be taken.
               Comments will be limited to three minutes per person. Persons
               making comment will be asked to begin by stating their name for
               the record and to spell their last name. The Committee Chair may
               elect to allow additional public comment on a specific agenda item
               when that agenda item is being considered.

               In accordance with Attorney General Opinion No. 00-047, as
               restated in the Attorney General’s Open Meeting Law Manual, the
               Board Chair may prohibit comment if the content of that comment
               is a topic that is not relevant to, or within the authority of, the
               Board of Regents, or if the content is willfully disruptive of the
               meeting by being irrelevant, repetitious, slanderous, offensive,
               inflammatory, irrational or amounting to personal attacks or
               interfering with the rights of other speakers.
  Investment and Facilities Committee Agenda                                                Page 10
  11/29/12




POSTED AT THE NEVADA SYSTEM OF HIGHER EDUCATION WEBSITE (at http://system.nevada.edu/), AT THE
SYSTEM ADMINISTRATION BUILDINGS AND E-MAILED FOR POSTING AT THE EIGHT NSHE INSTITUTIONS:

CSN, Building D, 1st Floor, 6375 W. Charleston Blvd., Las Vegas, NV 89146-1124
DRI, Maxey Building, 2215 Raggio Parkway, Reno, NV 89512-1095
DRI, Southern Nevada Science Center, 755 East Flamingo Road, Las Vegas, NV 89119-7363
GBC, Berg Hall, 1500 College Parkway, Elko, NV 89801
NSC, Great Hall, 1125 Nevada State Drive, Henderson, NV 89015
TMCC, Red Mountain Building (RDMT 200), 7000 Dandini Blvd., Reno, NV 89512
UNLV, Flora Dungan Humanities (FDH), 1st and 7th floors, 4505 Maryland Parkway, Las Vegas, NV 89154-1001
UNR, Clark Administration, University of Nevada, Reno, Reno, NV 89557
WNC, Bristlecone Building Lobby, 2201 W. College Parkway, Carson City, NV 89703
System Administration, 5550 W. Flamingo, Suite A-5, Las Vegas, NV 89103
System Administration, 2601 Enterprise Road, Reno, NV 89512

				
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