According to University Administrative Policy, the Real Estate Office must approve any agreement to use or lease real estate (land and buildings, including space within a building). University real estate, whether owned or leased, must be used for purposes that contribute to the University’s mission, unless a written agreement provides for another approved use of the real estate by a non-University entity. Under both Regents Policy (PDF) and University Administrative Policy, agreements for use or lease of real estate are developed or approved by the Office of the General Counsel. In many instances, the appropriate lease, license or use agreement can be found in the Contracts Library, which is maintained by the Office of the General Counsel. Otherwise, the Office of the General Counsel will develop the appropriate agreement through consultation with the Real Estate Office and negotiation with the non-University entity. The Board of Regents must approve leases of real property, easements and other interests in real property if in the initial term, the present value of the amount to be paid by or to the University exceeds $1,250,000. Note that a written agreement is not required for certain uses of University real estate by Registered Student Organizations. The use of outdoor spaces on University real estate is covered by the Outdoor Space Policy. See the Delegations Library to determine who has authority to sign lease, license and use agreements. Contact Dan Piper or Beth Zamzow regarding legal issues about buying or selling University property. For additional information and clarification on University policies and procedures regarding the lease and use of real estate and other real estate matters, contact the Real Estate Office at (612) 625-5345.