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| Joint Legislative Audit and Review Committee > Work Plan > 2005-2007 > Study Mandates & Other Scheduled Committee Projects > UWMetroTract2007
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JLARC Study Topic |
Where Mandated |
Planned
Report Date |
JLARC Staff Contact(s) |
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UW Metropolitan Tract Report: 2007
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ESHB 1991
(1999)
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Feb 2007
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Karen Barrett
360.786.5181
barrett.karen@leg.wa.gov
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Legislation enacted the 1999 legislative session (C 346 L 99) gives the University of Washington Board of Regents full control to manage, operate, lease, borrow funds, and incur indebtedness for the University Tract—a parcel of office and hotel properties, occupying approximately 11 acres in downtown Seattle. A new nonappropriated bond retirement account was created, and the net proceeds from leases on the University Tract are to be deposited in this account. In turn, funds in this account in excess of debt services needs must be transferred to the UW Building Account. This legislation also includes a requirement for the Board of Regents to provide a report on all leases and transactions of, or any improvements to, the University Tract during odd-numbered years to JLARC.
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