9.1 General Policy on Real Estate and Facilities
The term “real estate” includes:
- Land and anything permanently affixed to or growing upon the land;
- All rights issuing out of, annexed to, and exercisable within or about real property; or,
- Any estate or interest in real property.
The term “facilities” includes buildings of all types, as well as institution grounds and athletic venues. It includes all outdoor areas of a USG institution including streets, entrances, gates, and landscape features such as quadrangles, gardens, lakes, fountains, and fields (BoR Minutes, August, 2007).
The term “Real Estate” will have the same meaning as “Real Property” and includes: (1) Land and anything permanently affixed to or growing upon the land; (2) All rights issuing out of, annexed to, and exercisable within or about land; (3) Any estate or interest in land.
The term “Facility” or “Facilities” includes buildings structures and improvements of all types, outdoor areas, campus grounds and athletic venues.
The term “Property” includes both Real Property and Facilities. The Term “Property Activity” or “Property Activities” includes all activities related to Property such a planning, acquisition, development (including design, construction and renovation), management, operations, use, and disposition.
9.1.2 Portfolio Management and Utilization
The Board of Regents shall hold title to the Property of each institution, so that each institution shall receive the use and benefit of the Property devoted to its use, and in no event shall the Property of one institution be subject to the liabilities or obligations of any other institution, provided, however, that this restriction shall not prevent the Board of Regents from utilizing the Property, educational or otherwise, of one institution for the advancement or assistance of another.
The Board of Regents shall act as good stewards of the Property of whatever nature held in their trust. The University System chief facilities officer shall be responsible for the management of the Property on behalf of the Board of Regents and shall assist the Board of Regents to maximize the long-term utility of the Property to accomplish the educational mission of the University System. The Board of Regents, the Chancellor, or the University System chief facilities officer may require System institutions to provide reports related to Property in formats determined by the Board of Regents, the Chancellor, or the University System chief facilities officer.
9.1.3 Compliance and Risk Management
The Board of Regents recognizes the importance of compliance with all applicable laws and regulations and encourages the employment of knowledgeable professionals for Property Activities. In the absence of specific laws or regulations, industry standards and good management practices shall be followed.
Standards and guidelines shall be established for Property Activities to ensure compliance with all applicable laws and regulations and appropriate avoidance or mitigation of risks.
9.1.4 Board of Regents Procedures and Guidelines
The Board of Regents holds the University System chief facilities officer responsible for the establishment of standards and guidelines for Property Activities. Documentation of standards and guidelines shall be maintained and updated in electronic format and shall be readily available to the public. A complete list of current standards and guidelines will be accessible on the USG web site.
The University System chief facilities officer shall work with the Georgia Department of Law to make available standard forms of agreement, contracts, and other templates of legal documents that might expedite or facilitate Property Activities.
The University System chief facilities officer shall periodically update the Board on the status of standards and guidelines for Property Activities (BoR minutes, April 2011).
9.1.5 Training and Staff Development
[ Reserved ]
9.1.6 Delegation of Authority
For the purposes of this section of this Policy Manual, unless specifically designated otherwise, the Chancellor’s designee shall be the USG chief facilities officer or any other person designated by the Chancellor in writing from time to time.
Where the Board has authorized action or has previously delegated authority, the Chancellor, the Chancellor’s designee, and the USG chief facilities officer shall be authorized and empowered, in the name and on behalf of the Board of Regents of the University System of Georgia, to take or cause to be taken any and all such further action as, in the judgment of such officials, may be necessary, proper, convenient, or required in connection with the execution and delivery of such instruments, documents, or writings in order to carry out the intent of authority granted and authority delegated for all public private venture transactions and all USG real property transactions. Such authorization may not be further delegated to individual USG institutions (BoR Minutes, January, 2008).