The Arkansas Tech University Board of Trustees agreed to the terms of a land lease agreement during its meeting at the Ross Pendergraft Library and Technology Center on Thursday, Aug. 18, that would allow the City of Russellville to construct an extension of Phoenix Avenue.
In order for the agreement to take effect, it must also be ratified by the Arkansas Building Authority and the Russellville City Council.
If approved by those bodies, the lease of approximately 4.53 acres on the west side of the Arkansas Tech campus will cost the City of Russellville $1 per year for the next 99 years. The initial term of the agreement would expire on June 30, 2110.
The Phoenix Avenue extension would connect West Main Street with North Arkansas Avenue. The proposed new portion of the road cannot exceed two lanes and it must be curbed and guttered.
In return for Arkansas Tech agreeing to lease the land needed for the project, the City of Russellville has committed to installing a fully-signaled traffic light at the intersection of Reasoner Lane and North Arkansas Avenue. The terms of the agreement call for the traffic light to be installed by July 1, 2012.
“The new traffic light will improve safety for our students, faculty and staff,” said Dr. Robert C. Brown, Tech president. “This agreement culminates a long negotiation, and I commend Mayor (Bill) Eaton for his diligence in finding a solution that will be an enhancement for the campus and the city.”
Other actions taken by the Arkansas Tech Board of Trustees on Thursday included:
*ratification of parking regulations for the main campus in Russellville for the 2011-12 academic year;
*approval of a letter of intent that will be forwarded to the Arkansas Department of Higher Education giving notice that Arkansas Tech intends to create a Bachelor of Science degree in business data analytics in its College of Business and Department of Management and Marketing;
*replacing the Human Subjects Committee within the Arkansas Tech Appointed Standing Committees as outlined in the faculty handbook with an Institutional Review Board;
*approval of the salary schedule for personnel at the Arkansas Tech Career Center in Russellville, which was previously known as the Area Career and Technical Center before coming under the purview of Arkansas Tech-Ozark Campus on July 1;
*approval of the program proposal for a new Associate of Applied Science degree in nursing at Arkansas Tech-Ozark Campus;
*transfer of $52,142 from the unappropriated educational and general funds balance to cover the cost of constructing a parking lot at Arkansas Tech-Ozark Campus that will accommodate 82 vehicles by Nov. 15;
*approval of a three-phase security upgrades plan for Arkansas Tech-Ozark Campus that will include outdoor lighting improvements, security cameras and emergency call stations by Jan. 10, 2012;
*and approval of three meal plan options for students at Arkansas Tech-Ozark Campus.]]>