The University of Oregon Foundation recently purchased more land east of the University for roughly $4 million.
The foundation purchased the property from the Oregon Department of Transportation and will lease it to the University for $220,000 annually, said Frances Dyke, vice president for finance and administration.
The lease will end in two years, and the University plans to purchase it from the foundation. The process is similar to how the University purchased of the former Joe Romania lot east of Hirons and Market of Choice.
University President Dave Frohnmayer announced that the Department of Public Safety would be housed there, but how the rest of the property will be used will be evaluated by a space and planning committee, Dyke said.
University Foundation purchases more land
April 22, 2008
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