Board of Regents Policy Manual

Official Policies of the University System of Georgia

9.9 Real Property Ownership and Asset Management

(Last Modified on January 25, 2012)

Property and asset management regulations will be published and distributed periodically to the various operating units in Section 7.0, Capitalization, of the Business Procedures Manual.

9.9.1 Procurement of Professional Expertise

(Last Modified on August 11, 2009)

[ Reserved ]


9.9.2 Acquisition

(Last Modified on January 7, 2016)

The Chancellor or the USG chief facilities officer is authorized and empowered to execute, accept, and deliver for, on behalf of, and in the name of the Board of Regents of the University System of Georgia and under its SEAL, and without prior approval by the Board, any and all contracts, agreements, deeds, licenses, or other instruments related to the purchase or gift of real property where the purchase price (or gift value) of the real property does not exceed $1,000,000 and is at or below fair market value as determined by independent and licensed real estate appraiser(s), and where the property is not be subject to any adverse reversions, restrictions, covenants, or easements.

For gifts of property, a written opinion of value by a licensed real estate professional may be used in lieu of appraisal.

For acquisitions exceeding $1,000,000, at least two appraisals from independent and licensed real estate appraisers are required to validate the purchase price.

Board approval is required for any property acquired by condemnation, regardless of value. (BoR Minutes, August, 2007; January 2016)


9.9.3 Disposition

(Last Modified on May 19, 2016)

9.9.3.1 Sale of Property

The Chancellor or the USG chief facilities officer is authorized and empowered to execute, accept, and deliver for, on behalf of, and in the name of the Board of Regents of the University System of Georgia and under its SEAL, and without prior approval by the Board, any and all contracts, agreements, deeds, licenses, or other instruments related to the disposition of real property where the sale, transfer, or exchange price of the real property does not exceed $1,000,000 and is at or above fair market value as determined by independent and licensed real estate professional(s).

For dispositions where the sale, transfer, or exchange price exceeds $1,000,000, at least two appraisals from independent and licensed real estate appraisers are required to validate the purchase price. (BoR Minutes, January 2016)

9.9.3.2 Conveyances for Transportation Improvements

The Chancellor or the USG chief facilities officer is authorized to declare, without further approval of the Board, that real property is no longer advantageously useful to any USG institution but only for the purpose of conveying title for public road improvements provided that no more than five (5) acres of real property is to be conveyed.

The Chancellor or the USG chief facilities officer is authorized to request, without further authorization of the Board, that the Governor execute a deed without warranty, quitclaim deed, or other deed of conveyance for real property for the purpose of conveying title for public transportation improvements provided that less than five (5) acres of real property is conveyed. (BoR Minutes, January 2016)

9.9.3.3 Demolition

The Chancellor or the USG chief facilities officer is authorized to declare, without further approval of the Board, that a building or structure owned by the Board of Regents is no longer advantageously useful to any USG unit, for the sole purpose of authorizing demolition, and to request that the Governor issue an executive order authorizing demolition, provided that such building or structure is not eligible for a national or state historic register, and is either:

  1. Vacant, and has been vacant, for an extended period of time;
  2. Not a cost-effective candidate for repair based on a cursory examination;
  3. Obsolete and no longer necessary to provide support for which it was constructed and no longer needed to support academic programs; or,
  4. Consistent with the institution physical master plan and a Regents-approved capital improvement project.

In the event that a building or structure is declared eligible for a national or state historic register, Board action is required to declare the building or structure no longer advantageously useful to any USG unit for the sole purpose of authorizing demolition and to request that the Governor issue an executive order authorizing demolition. (BoR Minutes, January 2016)


9.9.4 Easements

(Last Modified on January 7, 2016)

The Chancellor or the USG chief facilities officer is authorized to declare, without further approval of the Board, that real property is no longer advantageously useful to any USG institution but only to the extent and for the purpose of granting a non-exclusive easement and may approve, without further approval of the Board, the execution and delivery of non-exclusive easements or revocable license agreements or permits for improvements, utilities and appurtenances to the utilities, above, across, and/or under Regents’ property to the extent necessary to serve or for the benefit of the USG institutions, by any entity. (BoR minutes, March 2011; January 2016)


9.9.5 Timber Sales

(Last Modified on January 7, 2016)

The Georgia Forestry Commission has consented to assist the USG and its institutions in the efficient and timely disposal of timber and timber products growing or produced on USG lands. The Commission will designate and prepare for sale those timber products that should be harvested on USG property. The timber products so designated are hereby declared to be surplus property that can no longer be advantageously used in the USG and the sale of all such timber products is declared to be in the USG’s best interest.

The USG chief facilities officer shall act as the liaison between the Board of Regents and the Georgia Forestry Commission in the management, sale and disposition of timber and its by-products for land not under the management of the School of Forestry and Natural Resources at the University of Georgia.

The proceeds from such timber sales, after deducting the cost and expenses thereof, shall be paid to the Board for distribution to the institution having jurisdiction of the lands from which the timber was cut.

On those lands owned by the Board of Regents and under the management of the School of Forestry and Natural Resources at the University of Georgia, the foresters of said school will designate and approve all sales of timber products and prepare the same for sale in keeping with sound and efficient forest management practices. All such sales shall be reported to the USG chief facilities officer. (Georgia Laws, 1974, Section 43-206.1, p. 458; BoR Minutes, 1972-73, pp. 145-47; January 2016)


9.9.6 Reporting

(Last Modified on January 26, 2016)

The USG chief facilities officer will periodically update the Board of Regents on real estate acquisitions, dispositions, easements, and timber sales.


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