9.1 General Policy on Real Estate and Facilities
The term “Real Estate” has the same meaning as “Real Property” and includes land and anything permanently affixed to or growing upon the land; all rights issuing out of, annexed to, and exercisable within or about land; and any estate or interest in land.
The term “Facility” or “Facilities” includes buildings; structures; University System of Georgia (USG) institution grounds; all outdoor areas of a USG institution, including streets, entrances, gates, and landscape features such as quadrangles, gardens, lakes, fountains, and fields; athletic venues; and improvements of all types.
The term “Property” includes both Real Property and Facilities.
The Term “Property Activity” or “Property Activities” includes all activities related to Property such as 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 USG institution so that each institution shall receive the use and benefit of the Property devoted to its use. In no event shall the Property of one institution be subject to the liabilities or obligations of any other institution, but the Board of Regents may utilize the Property, educational or otherwise, of one institution for the advancement or assistance of another.
The Board shall act as good stewards of the Property held in their trust. The USG chief facilities officer shall be responsible for the management of the Property on behalf of the Board of Regents and shall assist the Board in maximizing the long-term utility of the Property to accomplish the educational mission of the University System. The Board of Regents, the Chancellor, or the USG chief facilities officer may require USG institutions to provide reports related to USG Property.
9.1.3 Procedures, Standards, and Guidelines
The USG chief facilities officer is responsible for establishing standards and guidelines for Property Activities. A complete list of current standards and guidelines will be accessible on the USG web site.
The USG 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.
9.1.4 Real Estate Delegation of Authority
Unless specifically designated otherwise, the Chancellor delegates the authority that he or she has under Section 9 of this Policy Manual to the USG chief facilities officer. The authorization may not be further delegated to USG institutions.
When acting with delegated authority for public private venture transactions and USG real property transactions in the name of and on behalf of the Board of Regents, USG officials may execute and deliver documents and take other actions as, in the judgment of such officials, may be necessary, proper, convenient, or required in order to carry out the intent of authority delegated to those officials.