Proceedings of the Board of Regents (1963-1966)

DECEMBER MEETING, 1964

625

Institute Building, to be financed by state appropriations, federal grants,
and private gifts and grants. The comprehensive project budget is as
follows:
Professional services..................................... $ 700,000
Construction and utilities................................. 10,948,000
Special equipment and furnishings.......................... 2,250,000
Demolition and sundry, site work........................... 269,000
Contingency............................................ 747,000
Total...............................................$14.914,000
Source of Funds
State authorization...................................... $ 7,932,000
Federal grants.......................................... 5,634,000
Private gifts and grants.................................. 1,348,000
Total............................$14,914,000
The Vice-President in charge of business and finance was authorized
to institute in the name of the Regents necessary legal proceedings to
obtain clear title to a 15.88-foot parcel of land in the Park Terrace area.
The Regents authorized the Vice-President in charge of business and
finance to purchase the property at 217 South Observatory Street as well
as the furniture and fixtures from Doris Clark.
The Regents authorized the Vice-President in charge of business and
finance to negotiate a settlement of the controversy concerning Arborcrest Cemetery on the basis outlined in the statement submitted by the
University Attorney. (R.P., 1948-51, p. 1101, 1951-54, p. 753, and
1957-60. p. 956).
On recommendation of the Vice-President in charge of business and
finance, the Regents approved the following project budget in the
amount of $3,960,000 for the Cedar Bend Houses:
Construction-Building........................$2,994,550
Site improvements................ 181,100
Utility connections................ 116,200
Contingencies.................... 166,000

Park Terrace:
Property
Acquisition
Observatory
Street: Property
Purchase
Arborcrest Cemetery: Settlement of
Controversy
Authorized
Cedar Bend
Houses:
Project Budget

Total, Construction cost............................
Architectural and engineering services....................
Legal and administrative expense........................
Interest during construction.............................
Government field expense..............................
Project contingency...................................
Total, Project cost.................................
Equipment.........................................
Total, Project cost including equipment...............
Amount of H.H.F.A. Loan.............................
University Participation
Construction......................................
Equipm ent.......................................
T o tal........................................

$3,457,850
175,000
7,500
50,000
7,500
37,150
$3,735,000
225,000
$3,960,000
$2,500,000
1,235,000
225,000
$3,960,000

The following resolution was adopted:
WHEREAS, The Regents of the University of Michigan, pursuant to an advertisement for bids on the construction of Cedar Bend Houses Project (consisting of a
group of five residence halls designed to provide housing for a manager and 602
students of the University of Michigan) heretofore published in the "Michigan

Cedar Bend
Houses: Construction Contract
Awarded