Board of Trustees okays real estate deals
Dec. 27, 2006
KALAMAZOO--Acting at their Dec. 15 meeting, Western Michigan University trustees approved the sale of two lots with frontage on 8th Street and KL Avenue in Oshtemo Township to individuals who wish to build homes there.
The board also authorized a construction easement so that site work may begin on the property before the sale is finalized. Trustees sold the parcels, each 1.31 acres, for the same amount WMU originally bought them for--$12,052 each or $9,200 per acre, which is within market value.
In another real estate move, trustees assumed ownership of a billboard lease that was part of property purchased by the WMU Foundation in November. The foundation acquired the property known as the Stadium Drive West Mobile Home Park during its Nov. 30 meeting, and a billboard leased to Adams Outdoor Advertising was included with this property. Trustees approved the transfer and assignment of the lease from the foundation to WMU.
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