Re: Legacy to become apart of the dorm system!
http://www.regents.iowa.gov/Meetings/DocketMemos/13Memos/April2013/0413_ITEM20.pdf
*Located at 119 Stanton Avenue, this is a high rise building immediately south of the
campus, contains 299 beds in various apartment configurations from 1 to 5
bedrooms, with the majority being 2 to 4 bedroom units. The annual rental rate will
not exceed $1,708,380 (see location in Attachment A).
*The University would staff the facility with a hall director and 12 community advisers.
The building is structurally sound, includes a lower level parking deck (spaces would
be rented directly by ACC to building tenants) and access to recreational and
exercise facilities adjacent to the building accessible to all tenants. The building
needs deep cleaning and minor interior painting. The University would make these
minor improvements as part of the agreement.
*ACC operates several other buildings in this immediate area; the firm has indicated a
willingness to relocate tenants that have signed leases for next year to other
properties in the area. As part of the lease terms, the University may agree to pay
one-half of the relocation costs of these tenants up to a maximum of approximately
$15,000.
A resident must be 19 years of age or in their second year of college (as determined by
calendar year, not credits achieved) to be eligible to live in either the Frederiksen Court or
Schilletter-University Village on-campus apartment communities. The same qualifications would
be applied to these leased facilities, resulting in occupancy by returning ISU students, and
newly admitted transfer and graduate students.
The University would furnish all the units similar to on-campus apartments at an estimated cost
of $1.5 million to be paid from the residence system’s improvement fund. The furniture would
be relocated to other on-campus facilities at the end of the leases.