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State of Ohio - Controlling Board Request
STATE OF OHIO
CONTROLLING BOARD
30 East Broad Street, 34th Floor
Columbus, Ohio 43215-3457
(614) 466-5721 FAX:(614) 466-3813
CAPITAL REQUEST Controlling Board No.
BGU0100138
Status:  Approved
Meeting Date:  12/4/2017

GENERAL INFORMATION

Agency
Bowling Green State University


Division/Institution
Bowling Green State University

Eligible for Local Administration?
Yes
Real Estate Acquisition
    Release of Capital Funds (R.C.Sec. 127.14G)
    Transfer of Capital Funds (R.C.Sec. 127.14G and/or Sec. 127.15)
    Higher Education Authorization Request (Sec. 3333.071)
    Other Statutory Authority/Bill Section:
Fiscal Year(s)
2018
Bill No.
N/A
Eligible for OBM
Director Approval?
No
Capital Request
    Release of Capital Funds (R.C.Sec. 127.14G)
    Transfer of Capital Funds (R.C.Sec. 127.14G and/or Sec. 127.15)
    Waiver of Competitive Selection (R.C.Sec. 127.16B)
      No Competitive Opportunity
      Agency Released Competitive Opportunity
    Agency Released Competitive Opportunity (R.C.Sec. 127.162)
    Release Percent for Arts (R.C.Sec. 3379.10)
    Other Statutory Authority/Bill Section:
    Other:

REAL ESTATE DESCRIPTION
Owner No. of
Acres
Acres Previously
Purchased in Area
Balance of Acres
to be purchased
Purchase is Additional to
Real Estate Area of
Bowling Green State University Foundation LLC  0.175600007176399 15.8000001907349 5.6 Southern Campus
Option Price Name of 1st Appraiser Name of 2nd Appraiser
Total Per Acre The William Fall Group  Meridian Appraisal LLC 
$136,000.00 $774,487.00
Taxation Value (100%) Value of 1st Appraiser Value of 2nd Appraiser
Total Per Acre Total Per Acre Total Per Acre
$0.00 $0.00 $132,000.00 $751,708.00 $140,000.00 $797,266.00
County Township/Municipality If local funds are to be used, state the source of the funds
Wood  Center  General University Reserves 
Most Recent Sale of Real Estate Second Most Recent Sale of Real Estate
Date Price Date Price
07/18/2017  $180,000.00  10/08/1998  $121,000.00 

TRANSFER INFORMATION
FromToFYFund GroupFund CodeAppropriation Line ItemAppropriation Line Item NameTransfer AmountPrev Rel Amount
         

FUNDING INFORMATION
Fund GroupFund CodeAppropriation Line ItemAppropriation Line Item NameTotal Amount
       

SIGNATURES
     
Robert M Waddle 12/04/2017
   
Agency Director or Authorized Agent On The Date Of
   
09/14/2017 Christine Morrison
   
Date Controlling Board President/OBM Director
   
AGENCY CONTACT
Name:  Jodi L Sickler Title:  Planning Administrator
Phone:  (419) 372 - 3824 Fax:  (419) 372 - 0331 E-Mail:  jsickle@bgsu.edu
REQUIRED EXPLANATION OF REQUEST
  Bowling Green State University respectfully requests Controlling Board approval to purchase a property situated on 0.1756 acres of real estate in Wood County in the amount of $136,000.00 from Bowling Green State University Foundation LLC, as an addition to Bowling Green State University, main campus.  
  This property is located adjacent to the southern portion of campus in close proximity to many of the University's buildings and is a strategically located lot across from a number of campus academic and residential buildings. This location is consistent with the University Master Plan as well as representing a critical part of the Joint University and City of Bowling Green East Wooster Street Corridor Redevelopment Project.

Appraisals were obtained from two companies: The William Fall Group appraised it at $132,000 and Meridian Appraisals LLC appraised it at $140,000, giving us an average of $136,000, which is the agreed purchase price.

Funding for this purchase will come from non-student fee dollars. Student fees will not increase as a result of this acquisition.

While the purchase agreement has been signed, section 5.1(d) of the document lists the contingency that this agreement is subject to the approval of the Controlling Board. Bowling Green State University requests the Controlling Board to approve the expenditures of funds by the authority vested in it pursuant to Section 3333.071 of the Ohio Revised Code.
 
   
Attachments Controlling Board Request No.: BGU0100138
Attachment TypeAttachment Description
Other Property Map
Other Purchase Agreement
Other DAS Appraisal Review Letter
Real Estate Appraisal WFG Appraisal
Real Estate Appraisal MA Appraisal
Real Estate Appraisal MA Appraisal