Leases of Real Property
Business/Finance and Facilities
PDF Version: BOT Lease of Real Property Policy
- Authority: C.R.S. § 23-54-102, et seq. (2019) authorizes the Trustees of Metropolitan State University of Denver (MSU Denver) to establish rules and regulations to govern and operate the University and its programs. The Trustees retain authority to approve, interpret, and administer policies pertaining to University governance. The Trustees authorize the President of MSU Denver to approve, administer, and interpret policies pertaining to University operations.
- Purpose: This policy sets forth rules and requirements for the acquisition or use of real property by the University.
- Scope: This policy applies to employees and administrative units.
- Responsible Executive: Chief Operations Officer
- Responsible Administrator: Chief Financial Officer
- Responsible Office: Office of the Chief Financial Officer
- Policy Contact: Chief Financial Officer, 303-605-5306
Any acquisition or use of real property by the University which is conditional upon or requires expenditures of funds shall be subject to the approval of the Colorado Commission on Higher Education (CCHE), whether acquisition is by lease, leasepurchase, purchase, gift, or otherwise. The Board of Trustees has the responsibility and authority to review and approve the acquisition of real property secured through lease rental agreements or otherwise in accordance with the policies established by the CCHE. This policy applies to the acquisition of real property regardless of its planned use (e.g., instructional, public service, institutional support, academic support, etc.).
“Real property” is defined as land any interest therein, and generally whatever is erected or growing upon or affixed to land.
Lease, rental, or other real property use agreements executed prior to the effective date of this policy shall not be construed as invalidated.
IV. Policy History
- Approved by: Board of Trustees
- Effective: April 1, 2019
- Revised: This policy supersedes section 4.12 of the MSCD Trustees Manual, 2007.
- Review: This policy will be reviewed every five years or as deemed necessary by University leadership.