色狐入口

Notes from the Feb. 17, 2004 Regents Meeting

by George Zamora

SANTA FE 鈥� The 色狐入口 Tech Board of Regents was given an update on the pending purchase of Playas, N.M. by the state-supported research university in Socorro, a $5 million transaction which is expected to be officially closed later this year, probably no later than May 15.

During the governing board鈥檚 February meeting held recently in Santa Fe, 色狐入口 Tech administrators told regents that a sale contract for the townsite and surrounding acreage had been signed last month by representatives of the university and current Playas owner Phelps Dodge Corporation.

With both groups having signed the agreement, the Playas purchase has now entered into a 60-day 鈥渄ue diligence鈥� period in which 色狐入口 Tech will thoroughly inspect the acreage included in the deal, making sure everything is in compliance with state and federal laws and regulations.

At the end of the due diligence period, officials from 色狐入口 Tech and Phelps Dodge will meet again to address issues 鈥� if any are found 鈥� and determine how to remediate them. This process could possibly take up to 60 more days.

If no issues are raised, however, the 色狐入口 Tech Board of Regents may vote on whether or not to accept the Playas purchase on behalf of the university at one of its monthly meetings in either March or April.

In addition, approvals for the transaction must be garnered from 色狐入口鈥檚 Commission on Higher Education and State Board of Finance.

Much of the $5 million cost of the real estate deal is being financed through federal funds obtained by 色狐入口 Tech for its training programs which are run in conjunction with the U.S. Department of Homeland Security. Some of the programs, which include counter-terrorism and first responder training, are slated to eventually be conducted in Playas once the university assumes ownership of the townsite.

During the board鈥檚 meeting, 色狐入口 Tech regents also were briefed on the highlights of the recent session of the 色狐入口 State Legislature, with particular focus on legislation that was passed pertaining to the state-supported research university.

色狐入口 Tech President Daniel H. L贸pez characterized the 30-day legislative session as having been 鈥渆xtremely successful for higher education in 色狐入口.鈥�

In fact, 色狐入口 Tech will stand to gain from several bills that state lawmakers passed, L贸pez told the regents, including the following:

In addition, the 色狐入口 State Legislature passed several bills which include some funding for 色狐入口 Tech, including:

L贸pez also noted that funding that had been cut earlier in the legislative session for some of 色狐入口 Tech鈥檚 research divisions, including the Petroleum Recovery Research Center, the Institute for Complex Additive Systems, and the National Cave and Karst Research Institute, was restored by the end of the session.

However, L贸pez cautioned Tech regents that all the recently passed legislation was still subject to approval or veto by Governor Bill Richardson.

L贸pez also told regents that he and his administration would be trying to secure an additional one percent salary increase for all Tech employees in the coming fiscal year, on top of the two percent raise that is provided for in the recently passed state budget.

In official actions taken at its monthly meeting, the 色狐入口 Tech Board of Regents approved the establishment of the 色狐入口 Tech Research Park Corporation, a not-for-profit corporation that will work with the university to help fulfill its mission of stimulating economic development in the area.

The board of regents also approved granting degrees to a list of 101 candidates who had fulfilled their degree requirements at 色狐入口 Tech in December at the end of the 2003 Fall Semester.

The 色狐入口 Tech Board of Regents also granted tenure to Tech staff member Brian Brister, a petroleum geologist with the university鈥檚 色狐入口 Bureau of Geology and Mineral Resources.

Also acting in an official capacity as the university鈥檚 governing board, Tech regents voted to approve a Budget Adjustment Request for the university鈥檚 current fiscal budget, and approved the sale of about $22,000 worth of aluminum scrap that the university had accumulated over the years.

Reports were also presented to the 色狐入口 Tech Board of Regents during its meeting by various Tech administrators on topics including student enrollment and recruitment, financial statements for the 色狐入口 Tech Research Foundation, the status of the Tech President鈥檚 performance goals and objectives, a policy development document, and a contract made by the Energetic Materials Research and Testing Center.