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Policy

Introduction

Real Estate is responsible for implementing the Nevada System of Higher Education (NSHE) policy, guidelines and procedures to ensure that acquisition, disposal, or lease of real property assets in compliance with applicable law and policies of the Board of Regents and to reduce the risk of liability.

Real property assets, both owned and leased, are important and must be managed wisely. Law, regulation, building and life safety codes all impact our stewardship of these public assets. Those real property stewardship responsibilities are best served by centralized oversight that ensures "due diligence," consistent with university physical master plans and efficient use of all facilities and financial resources.

The vice president for business affairs and chief financial officer (VPBA/CFO) is responsible to the president for real estate asset management. The VPFB/CFO executes real property asset management through the associate vice president of planning construction and real estate (AVPP&C and RE) and Real Estate department staff.

Project Initiatives and Approval Authority

Only the president, executive vice president/provost, vice presidents, deans, or subordinates delegated that authority in writing, may initiate a real estate request. Examples include:

• Real property acquisitions or sales,
• Rights-of-Way, easements, and rights-of-entry,
• Land dedications and vacations,
• Facility Use License Agreements,
• Real estate initiatives involving public-private partnerships,
• Real property leases including off-campus leases or on-campus leases of 51³Ô¹ÏºÚÁÏ facilities to other NSHE institutions or outside entities,
• All real estate contracts, regardless of funding source or donation of in-kind charitable gifts, must be reviewed and approved by the VPFB/CFO and/or president, and;
• Commodity approval for all real estate procurements including studies, reports, estimates, appraisals, contract modifications, tenant improvements, etc., must be obtained through the Real Estate department prior to execution by the appropriate NSHE/51³Ô¹ÏºÚÁÏ administrator.

Space Planning and Allocation

The responsibility for reviewing and making recommendations for campus space uses, needs and proposed use changes, for both owned and leased property has been assigned to the executive director of space planning, Office of the Executive Vice President and Provost. When appropriate, the University Space Committee shall review the requested Real Estate projects and submit a written evaluation and recommendation for each project.