The University Corporation

ITEM #1 CONSIDERATION OF APRIL 19, 2004 MEETING MINUTES

The minutes were approved

ITEM #2 ELECTION OF DIRECTORS

MSP : That The North Campus-University Park Development Corporation elect Daniel Blake to another three-year term (2004-2007) on the NCUP Board of Directors.

Per the NCUP bylaws, either the Associated Students (AS) President or designee serves as the student representative on the Board of Directors

ITEM #3 BYLAWS CHANGES

The proposal is to replace the office of Chief Financial Officer with the office of Treasurer. This change is recommended to avoid confusion. The University Corporation provides NCUP management and has a chief financial officer on its staff.

MSP : That The North Campus-University Park Development Corporation Board of Directors approve replacing the office of Chief Financial Officer with the office of Treasurer; that Article VII of the NCUP bylaws be amended as proposed to reflect this change.

Current officers are:

Jolene Koester - Chair
Tom McCarron - President
Mo Qayoumi - Secretary and Treasurer

ITEM #4 Conflict of Interest

Directors were asked to submit their signed Conflict of Interest forms by October 1, 2004. This is an annual requirement.

ITEM #5 FINANCIAL STATEMENTS/RESERVES

June 30, 2004 financial statements were reviewed. There is $500,000 in the Current Operations Reserve and $500,000 in the Development Activities Reserve.

ITEM #6 ANNOUNCEMENTS

Faculty/staff housing : A Request for Proposal is under development to study the demand for faculty/staff housing and to develop recommendations on the types of housing units, phasing of construction and financing options.