Monday - Friday
8:00AM - 5:00PM
Meeting of the Board of Directors
September 11 , 2003 SummaryITEM #1 CONSIDERATION OF APRIL 7, 2003 MEETING MINUTES
The minutes were approved.
ITEM #2 ELECTION OF DIRECTORSMSP: That the North Campus-University Park Development Corporation Board of Directors re-elect the following Directors: Mohammad Qayoumi - three-year term (2003-2006); David Honda - three-year term (2003-2006); Alma Zatarain - two-year term (2003-2005); and Daniel Blake - one-year term (2003-2004).
ITEM #3 CONFLICT OF INTEREST
Conflict of Interest forms were distributed to the Directors for their signature.
The proposed policy formalizes the NCUP practice of following University Corporation or University policy when an NCUP policy does not exist.
MSP: That the North Campus-University Park Development Corporation Board of Directors approve the proposed Policy on Policies.
Total operating expenses as of June 30, 2003, were in line with budget and $150,000 was returned to the University. There was a 3.31% return on investments for the year.
As of June 30, 2003, there is $500,000 in the reserve for current operations and $500,000 in the reserve for development activities. CSU auxiliaries are required to establish reserve funds to assure fiscal viability.
Medtronic/MiniMed: An interim agreement has been signed extending the deadline for stadium demolition to October 31, 2003. Medtronic/MiniMed no longer plans to erect a building; they require less land that originally included in Parcel 4, to be used for parking.
Housing: A consultant will be engaged to conduct a needs analysis for CSU Northridge. North Campus is a possible location for a housing development.
Chancellor's Office Audit: The audit has been completed. No major issues are anticipated in the report.
Legal Counsel: NCUP legal counsel has decided to retire for health reasons. Auxiliaries are required to have an attorney of record. A search will be conducted for an attorney with an understanding of the CSU auxiliaries.
