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It's a done deal: UCAR North is ours

(Photo by Carlye Calvin.)

UCAR's purchase of the UCAR North building from Eric Kramer and Associates (see the November issue of Staff Notes Monthly) is complete. UCAR finalized the purchase of the building for $4,600,000 on 8 January. With almost 50,000 usable square feet, UCAR North is roughly one-fifth the size of the Foothills Lab, one block north. The building houses about 120 staff from a number of UCAR programs and activities, as well as NCAR Visual Communications.

Along with getting the usual perks and headaches of ownership, UCAR will save a pretty penny for its sponsors: around $1 million in the next five years and $15 million over 25 years. Beginning this month, these savings will be reflected in the occupancy-pool chargebacks to all UCAR and NCAR programs. Other things being equal, this will result in slightly lower overhead rates.

"We are happy to have the purchase wrapped up after a year-long process," says Dan Wilson, assistant UCAR treasurer. "We believe it's a win-win proposition for UCAR and our government sponsors, as well as for the previous owner, who was paid a fair market price (based on a commercial real estate appraisal) for the building." Bill Rawson, UCAR vice president for finance and administration, adds that the financing for the building included $3.5 million to acquire general-purpose equipment, such as networking and boiler facilities, for all parts of the institution. "These funds were acquired at tax-exempt interest rates, a significant savings over commercial interest rates," notes Bill.

No major changes are expected in the near future to the building or its operating procedures. •BH

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Prepared by Jacque Marshall, jacque@ucar.edu, 303-497-8616