REAL ESTATE ACQUISITION AND DISPOSITION POLICY
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Download free Real Estate Acquisition and Disposition Policy.pdfThis policy will serve to guide the trustees of the Valdosta State University Foundation, Inc., in making prudent decisions regarding real property owned by the Foundation. It is not the intention of the Foundation trustees to be real estate investors, except when the acquisition and disposal of real property benefits Valdosta State University in its mission to serve the South Georgia region. While gifts of real estate can be valuable, without due diligence and careful management, they can also be problematic and costly. (See Gift Acceptance Policy for guidelines for accepting real estate gifts). Real Estate acquisitions by the Foundation should be in keeping with the university’s overall physical plan for the campuses.
Outright gifts of real estate will be sold within a reasonable time after the gift is made unless it fits into the University’s master plan, short term or long-range goals. When leased properties are given to the Foundation, tenants should be encouraged to remain until disposition of the property is accomplished. This will provide an income stream to help defray the costs of maintenance and other expenses associated with the property. Proposed real estate gifts with conditions and restrictions should be carefully reviewed and declined if those conditions and restrictions have the potential to jeopardize the integrity and/or the financial well being of the Foundation. Favorable public perception of how the Foundation and University conduct business is vitally important to the future of the institution.
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Outright gifts of real estate will be sold within a reasonable time after the gift is made unless it fits into the University’s master plan, short term or long-range goals. When leased properties are given to the Foundation, tenants should be encouraged to remain until disposition of the property is accomplished. This will provide an income stream to help defray the costs of maintenance and other expenses associated with the property. Proposed real estate gifts with conditions and restrictions should be carefully reviewed and declined if those conditions and restrictions have the potential to jeopardize the integrity and/or the financial well being of the Foundation. Favorable public perception of how the Foundation and University conduct business is vitally important to the future of the institution.
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