Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Appraisals Opt Out topic
No spam. Unsubscribe anytime.
Committee hears that DFA-selected appraisals and an opt-out aim to streamline university property sales
Summary
Members discussed that DFA will select both appraisers, that property sales must occur at fair market value, and that an opt-out available to the university is designed to speed transactions; sponsor will confirm details.
Committee members discussed mechanics intended to make university property sales smoother. The chair asked the sponsor to confirm that both appraisers would be selected by DFA and that the property would be sold at fair market value; the sponsor agreed those elements were part of the process described in the transcript. The chair framed the sequence: appraisers are selected first, then the university (DFA) can opt out afterwards.
The sponsor said the arrangement is intended to avoid piecemeal development and to preserve long-term property value for the university and the surrounding city. The transcript records the chair asking for a confirmation that the property sale must be at fair-market value and the sponsor confirming that point. The transcript uses the acronym "DFA" but does not expand it; the committee did not record other procedural details or a numeric vote tally in the segments provided.
