Issued By: J. Singer
Date Issued: 8/2003
Effective Date: 8/2003
P:\Policy & Procedures\OSUA\OSUA #7- LeaseRealProperty.doc
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Office of Space Utilization & Analysis
Policy & Procedure #7
REAL PROPERTY LEASE PROCEDURES
To establish procedures and provide guidance for leasing of real property.
LEASE: Space secured for the University’s use, where control of the space resides
exclusively with the University.
REAL PROPERTY: Any building, structure, facility or property, either developed or
undeveloped, that is not owned or held in trust for the University by an agency of the State
All leases with Florida Atlantic University as lessee, for more than one year shall
require Board of Trustees approval.
Leases for more than 180 days but less than one (1) year require Presidents approval
Leases of more than 90 days but 180 days or less require Executive Committee
approval, providing the lease is no greater than $10,000 and is being funded by the
requesting division or department. Otherwise President’s approval is required.
Leases for 90 days or less require Cabinet approval, providing the lease is no greater
than $5,000 and is financed by the department. Otherwise Executive Committee
approval is required.
Notify the Office of Space Utilization & Analysis (OSUA) of desire to lease space at
least 60 days prior to required lease finalization date (excluding build-out time if any).
Notification at minimum should include the following:
a. Requestor Information (name, department, division, telephone # etc.)
b. Necessity for lease
c. Funding Source for Lease
d. Type of Space required (lab, office etc
e. Approximate net square footage required
f. Term of Lease
g. Date space must be available
h. Evidence of applicable level approval