FY17 ANNUAL REPORT UA Facilities & Land Management
FACILITIES & LAND MANAGEMENT ANNUAL REPORT FY17 Mission: Support University Higher Education and completion through asset revenue generation. Purpose: Monetize and provide positive return on investment from the limited University Land Grant Trust lands, resources, and facilities, in order to benefit collegiate education through the highest and best use of trust assets. Goals and Department Attainment: 1. Increase degree attainment of our students 2. Increase the number of skilled Alaskans for our workforce 3. Increase our world class research 4. Increase our contribution to Alaska s economic development 5. Increase the University s cost effectiveness EXECUTIVE SUMMARY Vice President, Michelle Rizk, led the University Facilities & Land Management Office in addition to her other duties, after an incumbent departed in fall and until the replacement was recruited and hired. In March, Christine Klein joined UA to lead the Facilities & Land Management Office (FLMO) and team. During FY17 the team successfully generated $6,700,000 in total gross revenue despite limited Land Grant Trust property assets to work with and the challenges of budget reductions and personnel turnover. There was over $600,000 in earnings gained over prior year results, providing a 9.84% income increase. The earnings generated, as a percent of total revenue is a positive 30.3% for 2017. Natural resource related activities accounted for $1,783,000 from Land Grant Trust property assets, representing 27.0% of the total gross revenue in FY17. This was a $548,600 gain over the FY16 revenue results coming directly from natural resource development. A majority of the funds came from timber harvesting, sales of excavated gravel material for road building, and an oil and gas lease royalty. The increased revenue derived from UA natural resources activity in FY17 was particularly critical to offset significant declines in the current Alaska real estate market. Real estate, properties, land permits, easements, rights-of-way, sales, leases, and related transactions provided $4,871,000 in gross revenue for FY17. The sum accounts for 73.2% of the total department gross receipts and was a year over year decrease of $1,013,000. That is a 17.2% decline as compared to FY16 real estate revenue results. The main cause of the decline in property revenue is the Alaska recession and poor real estate market, particularly in commercial properties. A few notable achievements: FLMO met four of the five University goals - 1. increase degree attainment of students by providing funds for UA scholars program; 3. increase world class research by processing 300 research permits statewide for faculty customers; 4. increase contribution to Alaska s economy through timber harvesting jobs, placing land in private hands and local tax base; and 5. increase cost effectiveness in a lower budget, positions vacant longer, and using small specialty contracts. The team completed remaining investment Trust Land classifications, streamlined permit processes to ease customer access, and produced a final Land Management Strategic Plan 2017-2030 approved by the University Board of Regents setting direction for development of the Land Grant Trust assets. 1
RESOURCE DEVELOPMENT ACTIVITIES ANNUAL REPORT - FY17 Revenue Overview: The University of Alaska Facilities & Land Management Office (FLMO) generated a total of $6,700,000 in gross revenue during fiscal year 2017 (FY17). Natural resource related activities directly generating revenue from Land Grant Trust assets totaled $1,783,000. This value represents over 27% of all revenue generated. The values provided are approximate based on limited land activity classifications the department uses in categorizing funds. For example, property leases where a third party leases UA land and performs resource related business operations for revenue are not included. Activity FY16 FY17 Land Sale $1.80 $1.50 Leases 3.31 3.09 Permits 0.26 0.24 Timber 0.03 1.43 Extraction 0.19 0.35 Easements 0.50 0.04 Resource Subtotal 0.22 1.78 An increase of $548,600 in revenue was based primarily on active Total $6.1M $6.7M timber harvest operations in SE Alaska. Key timber contracts signed and operations begun in FY16 continued with receipts received in FY17. The majority of resource funds came from timber harvesting revenue, sales of gravel for road building, and oil and gas lease royalty fees. The increased funds derived from UA natural resources in FY17 were particularly critical to offset significant declines in the current Alaska real estate market. Timber Management: The majority of timber revenue is from Southeast Alaska, with smaller harvests in interior areas near Fairbanks and Glennallen. Forest reserves are being assessed for a more active management and thinning to ensure sustained forest health. Timber efforts and projects for FY17 have included: Ketchikan Blank Inlet Timber Sale - This sale for timber netted $133,052 for the University. Vallenar Bay, Gravina Island - A sale in May near Ketchikan received no bids due to a $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 Revenue by Activity Category number of complex logistics. It will rebid early 2018 after finalizing State road construction to the site, access to log transfer facility, and pricing coordination with the other landowners in the area. Edna Bay, Kosciuosko Island - Timber harvest operations by contractor Alcan begun in FY16 continue over the next 3-5 years. Revenue of $1,296,000 was netted in FY17. Tree harvests were larger first growth timber for early revenue infusion after costly road efforts. Then will transition to lower return second and third growth trees return depending on the market and buyers. Haines Chilkat Peninsula - Research, preparation, and related work efforts on University parcels for development & disposal plans, public notice, site inspections, and road construction permitting were initiated in FY17. FLMO has actively coordinated with other landowners to implement the SE AK 5-year harvest plan, and will continue these efforts. SE Alaska Landowners Group - Membership and participation continues on SE Landowners Group with Alaska State Division of Forestry, Sealaska, and United States Forest Service to better leverage UA s small acreage and improve efficiencies. Work included developing joint use & mutual use agreements on the 5-year harvest schedules, participating in Good Neighbor Authority contracts, collaborating, and sharing of roads, log transfer, and related facilities. Millions FY'16 FY'17 Timber Extraction Permits Easements & Other Leases Lands 2
RESOURCE DEVELOPMENT ACTIVITIES ANNUAL REPORT FY17 Oil & Gas: University subsurface oil and gas assets and associated royalty payments from identified active petroleum formations are limited and to date known of only on the Kenai Peninsula. Oil/Gas: One Kenai Peninsula land lease continues providing a small annual gas-production royalty payment. In FY17 a 26% increase over FY16 payments was due to increased operational activity and subsequent throughput associated with production well reworking and maintenance the new owner and operator Hilcorp has performed. A draft lease provided to Hilcorp in FY17 may add UA land parcels for gas exploration drilling in the future at the Ninilchik and Anchor Point areas. A successful Intervention Appeal to the State of Alaska Oil & Gas Commission was filed regarding subsurface oil formation participating area reduction in expanded Ninilchik petroleum unit. This will help preserve UA subsurface interest in potential revenue on two land leases. Minerals and Gravel Extractions: Gravel material sales can be unpredictable year-to-year as they depend on nearby road construction, available rock quality, design specifications, and quarry accessibility. FY17 revenue was due to FLMO partnerships and road construction in proximity to UA Land Grant assets. Projects around the state that utilized UA gravel included: Broad Pass, Parks Highway - Material Management Agreement with Ahtna, Inc. and subsequent material sale agreement provided to Ahtna the rights & responsibilities for gravel extraction at UA s Milepost 194 property. This generated $188,000 in FY17 for an overall total of $625,000 and supported ADOT&PF road reconstruction on Parks Highway (see photo above). Haines, Klehini South - A material sales agreement with Southeast Roadbuilders provided $11,594 for UA gravel on a new bridge construction at Mile 26 of the Klehini River. Tanana River - A 186 acre material sale agreement with HC Contractors, Inc. for gravel extraction in the North Pole area that generates a minimum of $80,000 per year through 2020, with a potential to continue activities through 2035. Minerals revenue received by UA is minimal currently due to having no active operating claims or ownership interests. Research occurred on mining claim DNR top filings in Icy Bay Gulf area for claim ownership on several parcels (map right). Efforts will continue as documentation issues at DNR need resolving while UA maintains annual fees to preserve future mine claim interests. Environmental Mitigation: There were no known revenue activities in the natural resource category from any wetlands mitigation, carbon credits, self-imposed emission reductions, remediation cleanup credits, brownfield redevelopment, or other conservation related activities in FY17. 3
REAL ESTATE & LAND ACTIVITY ANNUAL REPORT FY17 Revenue Overview: FY17 activities generated $6,700,00 total gross revenue on University properties and resources. Earnings directly from real estate, properties, land permits, easements, right-of-way, sales, leases, and related land transactions (excluding natural resources) provided $4,871,000. Real estate transactions accounted for 73.2% of the department total gross receipts and was a decrease of $1,013,000 or 17.2% decline as compared to FY16. The main cause of the decreased property revenue is the current Alaska recession and poor real estate market. It was particularly evident in the competitive and hard hit commercial properties in urban areas. Activity FY16 FY17 Land Sales $1.80 $1.50 Leases 3.31 3.09 Permits 0.26 0.24 Timber 0.03 1.43 Extraction 0.19 0.35 Easements 0.50 0.04 Real Estate Subtotal $5.87 $4.88 Total $6.1M $6.7M Educational Property Sales: Educational classified properties are lands reserved specifically for the University academic programs, education support purposes, and the campuses. UAF s Fireweed Building, and Tract A Arbor Estate in Palmer were sold in FY15 and we will be collecting escrow payments through April 2021. Donated house in Juneau sold for $459,000 to benefit UAS. Revenue by Land Types UAF robotics industrial building in Fairbanks listed for sale. UAA s 707 A Street Anchorage Office Building downtown, has seen little interest and remained for sale in FY17 and into FY18. Numerous easements and right-of-way conveyances were complete for utility improvements at UAA, Juneau for housing and road development, and UAF for roads. Investment Property Sales: Investment classified properties are for generating positive income Benchmark Comparison to benefit UA s Land Grant Trust. These are primarily remote Land Actions FY16 FY17 parcels, recreational lots, and undeveloped lands for monetization, to support certain academic areas and the UA Scholars program to Research Permits 69 65 fund scholarships for Alaska s top 10% of high school graduates. Easements 5 3 18 lots were sold at Windy Hills near Nenana for $92,000. Lease Actions 11 19 A D.C. condo has been for sale most of FY17 and into FY18. Property Sales 11 14 Disposal & Development Plans, Public Notices, and related Bragaw Office efforts were complete in FY17 for Woll Estate home lots, Complex Vacancy 24% 57% North College Conservation parcels, the Peregrine and Wilshire subdivisions, remote parcels, and lots in North Pole area. Completed disposal of two McCarthy/Wrangell St. Elias inholdings for $600,000 and a Seward lot. Great Land Trust interested in land at Mineral Creek Valdez and an AK Peninsula inholding. 52% 8% 40% Investment Educational Foundation See also the UA PROPERTIES CURRENTLY FOR SALE list. 4
REAL ESTATE & LAND ACTIVITY CONTINUED ANNUAL REPORT FY17 Leases: The Facilities & Land Management Office (FMLO) provided support for both educational and investment property lease transactions over the year, located in both urban and remote areas, as well as research facilities and commercial operations across Alaska. Commercial investment property at 1835 Bragaw Office Center (BOC): two tenants took additional space for gross rent totaling $76,017 with anticipated gross rent increase over the term of $2,782,482; Cornerstone s amendment expanded their lease to 17,346 ft 2 and extended lease past 2018 another 5 years. BOC faced continued vacancies during FY17 in the current oversaturated market bringing it near 57.0% vacant, and replacing tenants continues to be challenging. The 1815 Bragaw Office added two tenants for combined rent that will gross $27,822 in FY18; Kuskokwim and Interior Aleutians Campus signed an office lease; and several existing UA program tenants expanded office and storage spaces in the BOB in FY17. United States Forest Service (USFS) signed a new lease for the Petersburg Fur Farm investment parcel that will now provide annual rent of $21,445. Education lease renewals: UAF 20-year research lease for the 34-acre Toolik Field Station; Eagle Airport, USDA snow telemetry sites, and a BLM permafrost site master ROW consolidation effort that saved UAF over $128,000; UAS Juneau Tech Center Auto Shop agreement with the school district brings in $40,000 annually. Revenue by Activity Category Other Real Estate Services: The FLMO team provided professional services for academic programs, faculty, and educational properties across Alaska. Many of the activities do not provide a significant source of revenue to the Land Grant Trust but are critical to UA s mission. Services in FY17 included the continued support of over 300 existing, renewals, and new FY'16 FY'17 academic faculty research-related permits work done on non-ua owned lands with other private entities and local, state, and federal agencies. FLMO provided real estate transactions on donated property to the Foundation, conveyed and processed numerous easements and rights-of-way to ADOT&PF and utility companies to make improvements to roads and infrastructure benefiting the public and local communities. Millions $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 Timber Extraction Permits Easements & Other Leases Lands See also the KEY PROPERTIES FOR SALE list. 5
KEY PROPERTIES FOR SALE ANNUAL REPORT - FY17 Hesketh Island, Homer Alaska: A 13.38 acre waterfront parcel for sale on Hesketh Island is located on the south end of Kachemak Bay. It lies at the entrance of Sadie Cove and Tutka Bay, approximately seven miles southwest of Homer in the Kenai Peninsula Borough. UA acquired this property in 1992 for benefit of Kenai Peninsula College. Sale is fair market value (FMV) and access is by floatplane or boat. The land is situated along the Hesketh Island north coast with great views of Kachemak Bay. Woll Estates, Fairbanks Alaska: Two donated undeveloped parcels totaling 120 acres are for sale five miles north of the city of North Pole. They are on the west side of Woll Road, about ½ mile south of the Woll and Badger Road intersection in Fairbanks North Star Borough. Acquired in 2007 from the Estate of George and Sydney Woll, sale will be at or above FMV and proceeds are to benefit University of Alaska Fairbanks. A disposal plan and sale are due to an offer to purchase a parcel(s). North College Road, Fairbanks Alaska: Two parcels of Trust investment land (480 acres total) north of College Road in Fairbanks are being public noticed for sale to The Conservation Fund (TCF). Upon acquisition, TCF will donate the property to the State of Alaska for expansion of Creamers Field State Migratory Refuge. These parcels contain permafrost and wetlands unsuitable for development. Sale will be at or above FMV determined by appraisal and proceeds will benefit UA s Land-Grant Endowment Trust Fund. Badger Road, Fairbanks Alaska: Three Trust Investment parcels (11.8 acres total) at 9.5 mile Badger Road and corner of Peridot Street in North Pole are for sale. UA received a request from R&M Consultants on behalf of the City of North Pole to purchase Lot 1 for expansion of their water treatment system. Sale will be at or above FMV or more as determined by appraisal. Sale proceeds will benefit UA Land-Grant Endowment. Wilshire Glen Estates Subdivision, Fairbanks Alaska: Several home lots for sale through a broker are in an existing subdivision. Donated to the University in 2011, sale proceeds will benefit three UAF educational programs. These parcels are accessible by road, are located near the golf course, and listed at FMV. Peregrine Heights Subdivision, Fairbanks Alaska: Home lots for sale through a real estate broker for Phases II, III & IV, at 3-Mile Chena Ridge Road on Canterbury Drive, Gower Drive and Yeoman Drive. These have views of Tanana River Valley and/or city of Fairbanks. Topography is moderate to steeply sloping, forested with birch, spruce, and aspen trees. This subdivision is in Chena Hills Road Service District with electrical service nearby. 6
UA PROPERTIES CURRENTLY FOR SALE ANNUAL REPORT - FY17 Windy Hills, Nenana Alaska Area: This subdivision is Investment property located between Nenana and Healy. We previously sold our financed sales (no longer done) from Windy Hills, and sold several lots to Usibelli Corp. in 2017. For Sale - Subdivision and Recreational Lots: See UA Land Management Web site for a complete listing of a variety of small, remote parcels located across Alaska. They range in size, location, and access. Waterford House, Washington DC (Condo): A unit on the 7 th floor of 18-story, 935 ft 2, 1 bedroom, 1 bath includes 1 underground parking space in Crystal City Arlington, Virginia. This unit is adjacent to multiple condominium developments, retail shops, offices, and parks. Offered by Menkiti Group Residential in 2015 for $479,000. UA has received no offers to purchase, made four price reductions, and the current listing is at FMV. A legal case with the condo association has made sales challenging. We will evaluate and make adjustments if needed. 707 A Street Building, Anchorage, Alaska: Office building purchased in 1990 for UAA educational programs for $2,015,000. No longer needed, vacant, and offered for sale since June 2015. In 2016 property was listed with Hoff & Leigh at $2,300,000 from initial listing $2,550,000. UAA has requested broker not forward partial lease requests. After several price reductions due to current real estate market and limited interest, latest listing price is $1,400,000. 3330 Industrial Avenue, Fairbanks, Alaska: This is a two-story 12,000 ft 2 steel frame warehouse re-constructed to mixed laboratory and office spaces for sale or lease. It sits on 0.98 acres located at 3330 Industrial Avenue, between 30th Avenue and Van Horn Road. The building has multiple air-handling units, lab vents & hoods, and numerous spaces. Purchased in 2006 at $860,588 for UAF Educational Office of Electronic Miniaturization (OEM), it is no longer needed and vacant. Listed with local commercial broker since 2015, it is appraised for $725,000. FOR SALE $725,000 Auke Bay Building at 11798 Glacier Highway, Juneau, Alaska: For sale or lease at or above FMV through a broker is a 10,000-ft 2 one-story commercial and retail office building. It is located on 2.43 acres with all public utilities available on site, city sewer system, space available for single or multiple tenants and on-site parking. This is the former UAS Bookstore located right at Auke Bay, zoned General Commercial (GC), has views, excellent highway frontage, and easy access. 7
STATEWIDE FACILITY PROJECTS ANNUAL REPORT - FY17 Butrovich Roof Replacement: Replacement of the Butrovich Building original roof began in FY16 and was completed in FY17. The new roof increased insulation levels to improve energy conservation, corrected slope and drainage, and repaired the front canopy and canopy drains that were causing damage to sidewalks and increasing maintenance costs. Butrovich Executive Suite Ceiling and Lighting Upgrade: During the roofing project, sections of fireproofing material on the underside of the roof deck and above the ceiling in the Executive suite area came loose resulting in damage to ceilings. To replace the fireproofing materials, sections of the old ceiling system had to replace the earlier non-standard system due to obsolete, expensive-to-replace parts. This provided an opportunity to upgrade the lighting system in the area to increase energy efficiency and light control. Bragaw Office Complex (BOC) Storm Drain Improvement Project: An aged and failing storm drainage system beneath the Bragaw Office Complex was repaired and drainage flow restored. Several main corrugated metal pipe (CMP) sections had to be replaced to reduce flooding and maintenance cost, and improve safety. Those CMP sections in fair condition were lined to extend life of the overall system. BOC Exterior Lighting Upgrade: The exterior lighting at 1815 and 1835 Bragaw was upgraded to LED light fixtures to reduce the utility cost of operation and improve lighting at the site. BOC Skybridge Repairs: Skybridges connecting the three buildings at the Bragaw Office Complex were repaired including window failing seals, mounting hardware to correct weather infiltration, repairs to roofing sealing, and associated work to prevent additional weather infiltration and damage. BOC Building Repairs: Several small repair projects to the BOC Buildings included: structural upgrades on the floor connected to the core of 1835, roof drains on the east side of 1815, closed and cleaned up open wall penetrations, abandoned conduits, damaged façade, and rusted doors. BOC Parking Lot Lighting Repairs (Warranty Work): Corrected underground wiring issues to the parking lot lights that were the result of faulty subcontractor work as part of the Parking Lot Paving Project. The main power supply conduit was damaged during construction and the subcontractor had patched rather than replaced it, resulting in failure near the tail end of the warranty period. ADEC Contaminated Site Coordination: Alaska Department of Environmental Conservation (ADEC) is working to improve management of contaminated sites throughout the State of Alaska and working with agencies to address sites. Facilities and Land Management took the lead to meet with, review working agreement with ADEC to address sites on University property. Review of ADEC s database showed that the University is active at remediating sites and managing them responsibly. 8
FINANCIALS ANNUAL REPORT FY17 In accordance with Board of Regents Policy 05.11.041.D, the following reports are both five-year and historical summaries of the financial performance of the Facilities and Land Management Office. These summaries include all gross revenues received from land sales and leases, land use permits and fees, timber sales, mineral leases and royalties, oil and gas leases and royalties, material sales, easements, and land contract interest collections. Expense summaries and Land Grant Endowment Trust Fund balances are also included. 9
UA Facilities and Land Management FY17 ANNUAL REPORT Gross Receipts and Trust Fund Summary - Past 5 Yrs RECEIPTS FY13 FY14 FY15 FY16 FY17 UNIVERSITY TRUST LAND Land Sales $ 1,447,818 $ 588,971 $ 1,877,868 $ 1,568,653 $ 670,637 Leases: Land/Commercial/Residential 208,384 106,681 71,038 90,702 64,224 Permits & Fees 84,747 57,783 100,981 112,043 106,881 Timber Sales - - 867,660 31,765 1,429,114 Mineral Leases/Royalties 3,200 3,200 3,200 3,200 3,200 Oil & Gas Leases/Royalties 71,723 44,864 72,240 53,062 66,827 Material Sales 152,313 80,000 509,796 133,442 284,158 Easements/Rights of Way 81,817 1,280 621,200 276,085 1,500 Miscellaneous 5,655 26,490 125 50,001 125 $ 2,055,657 $ 909,268 $ 4,124,108 $ 2,318,951 $ 2,626,666 OTHER UNIVERSITY LAND ₄ Land Sales $ 16,602,188 $ 3,248,632 $ - $ 163,630 $ 159,981 Leases: Land/Commercial/Residential 1,283,198 4,147,836 3,645,573 3,221,853 3,021,316 Permits & Fees 6,000 22,680 134,722 151,230 135,182 Timber Sales - - - - - Mineral Leases/Royalties - - - - - Oil & Gas Leases/Royalties - - - - - Material Sales 13,619 18,905 - - - Easements/Rights of Way - - - - 38,569 Miscellaneous 200 229 - - - $ 17,905,204 $ 7,438,282 $ 3,780,295 $ 3,536,714 $ 3,355,048 FOUNDATION LAND Land Sales $ 152,648 $ 33,914 $ 31,226 $ 76,590 $ 534,632 Leases: Land/Commercial/Residential - - - - - Permits & Fees - - - - - Timber Sales - - - - - Mineral Leases/Royalties - - - - - Oil & Gas Leases/Royalties - - - - - Material Sales - - - - - Easements/Rights of Way - - - - - Miscellaneous 1,320 3,955 - - - $ 153,968 $ 37,869 $ 31,226 $ 76,590 $ 534,632 OTHER RECEIPTS Land Contract Interest $ 270,048 $ 216,299 $ 202,789 $ 172,955 $ 137,459 TOTAL RECEIPTS $ 20,384,877 $ 8,601,717 $ 8,138,419 $ 6,105,210 $ 6,653,806 LAND GRANT ENDOWMENT TRUST FUND ASSET TYPE FY13 FY14 FY15 FY16 FY17 Accounts Receivable ¹ $ 2,590,337 $ 2,182,067 $ 1,809,881 $ 1,891,934 $ 1,330,518 Cash & Investments 114,050,989 123,548,961 117,368,874 105,668,650 117,149,881 Real Property ² 30,070,519 30,052,437 30,048,077 30,319,842 30,278,763 Security Deposits ³ - - (10,100) - (1,750) NET ASSETS $ 146,711,844 $ 155,783,465 $ 149,216,731 $ 137,880,425 $ 148,757,413 PERCENT CHANGE 5.07% 6.18% -4.22% -7.60% 7.89% ¹ Principal balance due on land sale contracts, deeds of trust, judgments and defaults. ² Real estate with a known basis was booked in 1993 at its acquisition value. Approximately 90,000 acres are held by the University at $0 basis because fair market value at the time of transfer was not determined. ³ Deposits held by the University on pending land sale closings. ⁴ FY13 Sale of the Diplomacy Building ($16.5M). 10
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Land Grant Endowment Trust Fund 5-Yr Balances $180 $160 $140 $155.8 $146.7 $149.2 $137.9 $148.8 $120 MILLIONS $100 $80 $60 $40 $20 $0 FY13 FY14 FY15 FY16 FY17 Cash & Investments Real Property Accounts Receivable 12
UA Facilities and Land Management ANNUAL EXPENDITURES - Past 5 Yrs EXPENDITURES FY13 FY14 FY15 FY16 FY17 Bragaw Office Complex Expenses 2,227,587 1,899,866 1,948,250 2,165,320 All Expenses, excluding the BOC 834,914 909,623 1,042,530 852,359 602,302 Salaries (including staff benefits) 1,791,790 1,793,243 1,634,550 1,389,671 1,624,332 TOTAL EXPENDITURES $2,626,705 $4,930,453 $4,576,947 $4,190,280 $4,391,955 13
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Bragaw Office Center Historical Summary of Revenue and Expense Purchase Date for Bragaw Street Properties -- June 27, 2013 FY16 1815 Bragaw SW Office Tenants (Educational Property) 1835 Bragaw Non-UA Lessees (Investment Property) 1901 Bragaw UAA Office Tenants (Educational Property) 1919 Bragaw Parking Lot Only (orig bldg torn down) 133138-80157 122541-80059 133135-80157 122546-80059 Rev, Exp & Net TOTALS Bragaw Properties Revenue $ 558,500.64 $ 1,514,623.82 $ - $ - $ 2,073,124.46 Less Operating Exp $ 168,699.57 $ 717,632.46 $ - $ - $ 886,332.03 Less Debt Service $ 275,141.11 $ 786,776.93 $ - $ - $ 1,061,918.04 Net Total $ 114,659.96 $ 10,214.43 $ - $ - $ 124,874.39 FY15 BANNER Records 133138-80157 & 80152 122541-80059 133135-80157 & 80152 122546-80059 Revenue $ 536,922.00 $ 1,784,079.49 $ - $ - $ 2,321,001.49 Less Operating Exp $ 167,722.97 $ 654,500.48 $ 13,434.07 ¹ $ 2,290.93 $ 837,948.45 Less Debt Service $ 275,141.12 $ 786,776.92 $ - $ - $ 1,061,918.04 Net Total $ 94,057.91 $ 342,802.09 $ (13,434.07) $ (2,290.93) $ 421,135.00 FY14 122538-80059 122541-80059 133135-80152 122546-80059 Revenue $ 600,514.54 $ 1,920,182.16 $ 380,575.20 ² $ - $ 2,901,271.90 Less Operating Exp $ 204,525.66 $ 668,990.95 $ 221,884.83 $ 70,209.62 $ 1,165,611.06 Less Debt Service $ 212,384.41 $ 607,155.41 $ 242,436.36 ³ $ - $ 1,061,976.18 Net Total $ 183,604.47 $ 644,035.80 $ (83,745.99) $ (70,209.62) $ 673,684.66 ¹ ² ³ UAA took possession of 1901 Bragaw in Jan 2015 and assumed responsibility for maintenance (as with its other facilities). FEMA lease payments were received for 1901 Bragaw before UAA took possession of the building. Principal & Interest was paid for 1901 Bragaw before UAA took possession of the building. 15
UA Facilities and Land Management HISTORICAL GROSS RECEIPTS SUMMARY FY87 - FY17 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 UNIVERSITY TRUST LAND Land Sales $ 1,236,002 $ 736,541 $ 1,447,818 $ 588,971 $ 1,877,868 $ 1,568,653 $ 670,637 Leases: Land/Commercial/Residential 184,985 186,934 208,384 106,681 71,038 90,702 64,224 Permits & Fees 9,010 42,735 84,747 57,783 100,981 112,043 106,881 Timber Sales - - - - 867,660 31,765 1,429,114 Mineral Leases/Royalties 3,200 3,200 3,200 3,200 3,200 3,200 3,200 Oil & Gas Leases/Royalties 112,441 93,356 71,723 44,864 72,240 53,062 66,827 Material Sales 217,947 294,776 152,313 80,000 509,796 133,442 284,158 Easements/Rights of Way 900 2,200 81,817 1,280 621,200 276,085 1,500 Miscellaneous - 13,252 5,655 26,490 125 50,001 125 Total Trust Land Receipts $ 1,764,485 $ 1,372,995 $ 2,055,657 $ 909,268 $ 4,124,108 $ 2,318,951 $ 2,626,666 OTHER UNIVERSITY LAND Land Sales $ 100,279 $ 1,978 $ 16,602,188 $ 3,248,632 $ - $ 163,630 $ 159,981 Leases: Land/Commercial/Residential 1,177,846 1,231,739 1,283,198 4,147,836 3,645,573 3,221,853 3,021,316 Permits & Fees 6,000 6,000 6,000 22,680 134,722 151,230 135,182 Timber Sales - - - - - - - Mineral Leases/Royalties - - - - - - - Oil & Gas Leases/Royalties - - - - - - - Material Sales 45,966 50,103 13,619 18,905 - - - Easements/Rights of Way - - - - - - 38,569 Miscellaneous 21,757 15,596 200 229 - - - Total Other UA Land Receipts $ 1,351,848 $ 1,305,415 $ 17,905,204 $ 7,438,282 $ 3,780,295 $ 3,536,714 $ 3,355,048 FOUNDATION LAND Land Sales $ 136,931 $ 257,461 $ 152,648 $ 33,914 $ 31,226 $ 76,590 $ 534,632 Leases: Land/Commercial/Residential - - - - - - - Permits & Fees - - - - - - - Timber Sales - - - - - - - Mineral Leases/Royalties - - - - - - - Oil & Gas Leases/Royalties - - - - - - - Material Sales - - - - - - - Easements/Rights of Way - - - - - - - Miscellaneous - - 1,320 3,955 - - - Total Foundation Land Receipts $ 136,931 $ 257,461 $ 153,968 $ 37,869 $ 31,226 $ 76,590 $ 534,632 OTHER RECEIPTS Land Contract Interest $ 333,185 $ 291,864 $ 270,048 $ 216,299 $ 202,789 $ 172,955 $ 137,459 Total Other Receipts $ 333,185 $ 291,864 $ 270,048 $ 216,299 $ 202,789 $ 172,955 $ 137,459 TOTAL RECEIPTS $ 3,586,449 $ 3,227,736 $ 20,384,877 $ 8,601,717 $ 8,138,419 $ 6,105,210 $ 6,653,806 TOTAL RECEIPTS: FY87-FY17 $ 210,937,133 Last 5 Yr. Average Last 10 Yr. Average Last 20 Yr. Average $ $ $ 9,976,806 8,139,968 8,533,317 16
UA Facilities and Land Management HISTORICAL GROSS RECEIPTS SUMMARY FY87 - FY17 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 UNIVERSITY TRUST LAND Land Sales $ 4,881,327 $ 4,472,964 $ 8,471,158 $ 3,966,816 $ 3,719,136 $ 6,081,245 $ 8,309,572 $ 1,732,029 Leases: Land/Commercial/Residential 189,430 224,407 210,960 189,660 196,846 181,597 180,154 153,791 Permits & Fees 13,530 9,020 5,220 13,320 13,870 5,100 5,620 15,674 Timber Sales 4,833,786 222,224 5,500,000 - - - - - Mineral Leases/Royalties 22,400 3,200 3,200 3,200 18,200 20,700 28,200 33,200 Oil & Gas Leases/Royalties 38,506 38,727 7,305 4,024 1,984 133,387 273,950 130,574 Material Sales - - 250 4,000 1,911 - - 57,385 Easements/Rights of Way 1,000-3,000-2,500 4,916 717,412 50,107 Miscellaneous 750 700 - - 58,250 - - - Total Trust Land Receipts $ 9,980,729 $ 4,971,242 $ 14,201,093 $ 4,181,020 $ 4,012,698 $ 6,426,945 $ 9,514,908 $ 2,172,760 OTHER UNIVERSITY LAND Land Sales $ 229,034 $ 7,882 $ 6,809 $ 7,030 $ 357,856 $ 111,397 $ 9,276 $ 16,094 Leases: Land/Commercial/Residential 1,237,020 1,188,282 1,491,686 1,511,096 1,570,041 1,647,112 1,396,467 1,243,041 Permits & Fees 3,910-18,300 39,000 48,000 15,350 13,050 7,000 Timber Sales - - - - - - - - Mineral Leases/Royalties - - - - - - - - Oil & Gas Leases/Royalties - - - - - - - - Material Sales 22,842 35,753 295,675 28,168 45,885 42,863 58,518 43,977 Easements/Rights of Way 350 - - 11,375-709 157,475 - Miscellaneous 100 1,275 12,766 8,596 2,900 6,495 325,223 7,926 Total Other UA Land Receipts $ 1,493,256 $ 1,233,192 $ 1,825,236 $ 1,605,265 $ 2,024,682 $ 1,823,925 $ 1,960,009 $ 1,318,038 FOUNDATION LAND Land Sales $ 27,410 $ 204,635 $ 67,809 $ 873,284 $ 16,440 $ 269,353 $ 9,847 $ 10,546 Leases: Land/Commercial/Residential - - - - - - - - Permits & Fees - - - - - - - - Timber Sales - - - - - - - - Mineral Leases/Royalties - - - - - - - - Oil & Gas Leases/Royalties - - - - - - - - Material Sales - - - - - - - - Easements/Rights of Way - - - - - - - - Miscellaneous 2,140 60 - - - - - - Total Foundation Land Receipts $ 29,550 $ 204,695 $ 67,809 $ 873,284 $ 16,440 $ 269,353 $ 9,847 $ 10,546 OTHER RECEIPTS Land Contract Interest $ 492,702 $ 539,526 $ 500,543 $ 533,258 $ 558,651 $ 406,737 $ 410,998 $ 377,396 Total Other Receipts $ 492,702 $ 539,526 $ 500,543 $ 533,258 $ 558,651 $ 406,737 $ 410,998 $ 377,396 TOTAL RECEIPTS $ 11,996,237 $ 6,948,655 $ 16,594,681 $ 7,192,828 $ 6,612,471 $ 8,926,960 $ 11,895,762 $ 3,878,740 17
UA Facilities and Land Management HISTORICAL GROSS RECEIPTS SUMMARY FY87 - FY17 FY95 FY96 FY97 FY98 FY99 FY00 FY01 FY02 UNIVERSITY TRUST LAND Land Sales $ 1,218,409 $ 825,976 $ 1,470,954 $ 1,828,124 $ 2,425,264 $ 2,626,794 $ 3,490,751 $ 2,027,368 Leases: Land/Commercial/Residential 65,899 57,816 74,945 103,353 100,500 110,898 105,765 222,078 Permits & Fees 26,858 788 3,790 8,302 8,247 4,883 9,921 6,760 Timber Sales 3,278,271 125,813 2,276,529 5,620,719 3,508,436 4,428,542 2,157,807 246,807 Mineral Leases/Royalties - - 75,300-34,051 - - - Oil & Gas Leases/Royalties 9,107 160,010 10,575 6,674 15,364 9,471 46,739 56,220 Material Sales 12,300 16,199 29,352 2,219 9,500 1,650-1,900 Easements/Rights of Way 2,300 5,316 10,875 26,010 750 24,385 10,500 850 Miscellaneous 5,014 (20) 4,306 5,027 4,995 15,134 200 1,996 Total Trust Land Receipts $ 4,618,158 $ 1,191,898 $ 3,956,626 $ 7,600,428 $ 6,107,107 $ 7,221,757 $ 5,821,683 $ 2,563,979 OTHER UNIVERSITY LAND Land Sales $ 508,044 $ 603,187 $ 542,428 $ 105,565 $ 313,590 $ 121,743 $ 10,061 $ 41,967 Leases: Land/Commercial/Residential 626,301 1,255,097 840,856 1,128,181 1,068,259 1,151,933 1,265,684 1,194,191 Permits & Fees 7,700 3,362 2,900 3,075 500 850 350 3,100 Timber Sales - - - - - - - - Mineral Leases/Royalties - - - - - - - - Oil & Gas Leases/Royalties - - - - - - - - Material Sales 36,075 21,323 11,612 21,616 10,942 14,643 14,643 33,174 Easements/Rights of Way - 1,300-2,000 80,900 4,300 - - Miscellaneous - - - - - 300 275 300 Total Other UA Land Receipts $ 1,178,120 $ 1,884,269 $ 1,397,796 $ 1,260,437 $ 1,474,191 $ 1,293,769 $ 1,291,013 $ 1,272,732 FOUNDATION LAND Land Sales $ 28,013 $ 56,254 $ 44,084 $ 359,445 $ 30,991 $ 23,092 $ 390,467 $ 585,201 Leases: Land/Commercial/Residential - - - - - - - - Permits & Fees - - - - - - - - Timber Sales - - - - - - - - Mineral Leases/Royalties - - - - - - - - Oil & Gas Leases/Royalties - - - - - - - - Material Sales - - - - - - - - Easements/Rights of Way - - - - - - - - Miscellaneous - 8,081-10,400 6,886 779 - - Total Foundation Land Receipts $ 28,013 $ 64,335 $ 44,084 $ 369,845 $ 37,877 $ 23,871 $ 390,467 $ 585,201 OTHER RECEIPTS Land Contract Interest $ - $ - $ 439,740 $ 459,037 $ 469,756 $ 531,415 $ 573,587 $ 573,636 Total Other Receipts $ - $ - $ 439,740 $ 459,037 $ 469,756 $ 531,415 $ 573,587 $ 573,636 TOTAL RECEIPTS $ 5,824,291 $ 3,140,502 $ 5,838,246 $ 9,689,747 $ 8,088,931 $ 9,070,812 $ 8,076,750 $ 4,995,548 18
UA Facilities and Land Management HISTORICAL GROSS RECEIPTS SUMMARY FY87 - FY17 FY87 FY88 FY89 FY90 FY91 FY92 FY93 FY94 UNIVERSITY TRUST LAND Land Sales $ 217,036 $ 274,648 $ 1,081,502 $ 995,377 $ 846,062 $ 1,132,632 $ 1,592,480 $ 1,691,509 Leases: Land/Commercial/Residential 46,044 44,492 135,379 55,519 45,172 106,825 83,137 72,572 Permits & Fees - 715 3,500 4,675 3,600 8,345 15,665 26,728 Timber Sales 30,297 44,268 8,939 1,093,062 896,253 971,251 2,084,944 6,813,647 Mineral Leases/Royalties 11,737 5,462 16,800 7,954 - - - - Oil & Gas Leases/Royalties - 6,000 - - - 139,836 5,465 7,286 Material Sales 8,000 36 14,056 (435) 2,000 4,042 54,298 12,866 Easements/Rights of Way - - 350 1,700 350 410 6,402 200 Miscellaneous 122,682 - - - - - 4,000 500 Total Trust Land Receipts $ 435,796 $ 375,621 $ 1,260,526 $ 2,157,852 $ 1,793,437 $ 2,363,341 $ 3,846,391 $ 8,625,308 OTHER UNIVERSITY LAND Land Sales $ - $ - $ - $ - $ - $ 1,032,128 $ 35,000 $ 803,107 Leases: Land/Commercial/Residential 31,128 22,037 9,969-5,000 5,000 5,000 95,791 Permits & Fees - 354 3,903 9,812 9,894 7,734 7,875 306,268 Timber Sales - - - - - - - - Mineral Leases/Royalties - - - - - - - - Oil & Gas Leases/Royalties - - - - - - - - Material Sales 8,166 47,585 14,539 36,721 57,247 24,530 37,278 43,297 Easements/Rights of Way - - - - - - - - Miscellaneous 6,101 283,550 61,640 - - 120 9,000 - Total Other UA Land Receipts $ 45,395 $ 353,526 $ 90,051 $ 46,533 $ 72,141 $ 1,069,512 $ 94,153 $ 1,248,463 FOUNDATION LAND Land Sales $ 159,667 $ 131,543 $ 153,525 $ 303,608 $ 250,224 $ 5,159 $ 158,886 $ 420,516 Leases: Land/Commercial/Residential - - - - - - - - Permits & Fees - - - - - - - - Timber Sales - - - - - - - - Mineral Leases/Royalties - - - - - - - - Oil & Gas Leases/Royalties - - - - - - - - Material Sales - - - - - - - - Easements/Rights of Way - - - - - - - - Miscellaneous 2,784 3,800 - - - - - - Total Foundation Land Receipts $ 162,451 $ 135,343 $ 153,525 $ 303,608 $ 250,224 $ 5,159 $ 158,886 $ 420,516 OTHER RECEIPTS Land Contract Interest $ - $ - $ - $ - $ - $ - $ - $ - Total Other Receipts $ - $ - $ - $ - $ - $ - $ - $ - TOTAL RECEIPTS $ 643,642 $ 864,490 $ 1,504,102 $ 2,507,993 $ 2,115,802 $ 3,438,012 $ 4,099,430 $ 10,294,287 19
Historical Gross Receipts, By Land Type $25 Diplomacy Bldg Sale $16.5M $20 UAF Ag Farm #1 Sale to Providence Health, $5.4M Gulf Coast Timber Sale, $5.9M MILLIONS $15 Whipple Creek Timber Sale #2, $5.8M Diplomacy Bldg Lease, $5.3M Gulf Coast Timber Sale #1 & #2, $5.6M Nature Conservancy Sale @ Jack Bay, $1.1M Trunk Rd Sale $6.5M $10 $5 $0 University Trust Land Other University Land Foundation Other Receipts 20
Historical Gross Receipts, By Resource Category $25 Diplomacy Bldg Sale $16.5M $20 UAF Ag Farm #1 Sale to Providence Health, $5.4M Gulf Coast Timber Sale, $5.9M MILLIONS $15 Whipple Creek Timber Sale #2, $5.8M Diplomacy Bldg Lease, $5.3M Gulf Coast Tiimber Sale #1 & #2, $5.6M Nature Conservancy @ Jack Bay Sale, $1.1M Trunk Rd Sale $6.5M $10 $5 $0 Real Estate Timber Oil & Gas Mining/Gravel 21
22
UA Facilities and Land Management LAND GRANT ENDOWMENT TRUST FUND HISTORICAL BALANCES SUMMARY FY89 - FY17 ASSET TYPE FY89 FY90 FY91 FY92 FY93 FY94 FY95 FY96 FY97 FY98 FY99 Accounts Receivable $ - $ - $ - $ - $ 564,651 $ 3,654,310 $ 4,027,082 $ 3,755,850 $ 3,985,569 $ 4,572,433 $ 5,131,543 Cash & Investments 12,642,960 14,463,635 15,585,784 18,393,392 21,127,652 28,839,953 32,649,417 31,393,371 39,328,244 50,729,799 61,873,464 Real Property - - - 39,893,806 38,994,642 38,989,104 38,724,152 38,494,848 36,788,373 36,015,251 35,464,635 Security Deposits - - - - - - (1,800,000) (24,150) (38,841) (40,890) (19,274) NET ASSETS $ 12,642,960 $ 14,463,635 $ 15,585,784 $ 58,287,198 $ 60,686,945 $ 71,483,367 $ 73,600,651 $ 73,619,919 $ 80,063,345 $ 91,276,593 $ 102,450,368 PERCENT CHANGE 14.40% 7.76% 273.98% 4.12% 17.79% 2.96% 0.03% 8.75% 14.01% 12.24% ASSET TYPE FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 Accounts Receivable $ 5,707,106 $ 5,576,691 $ 5,067,698 $ 5,920,322 $ 5,172,517 $ 6,316,809 $ 5,903,733 $ 5,318,078 $ 4,580,213 $ 4,432,591 $ 4,199,117 Cash & Investments 73,161,890 78,476,481 72,479,125 77,698,716 88,603,297 101,623,795 113,483,711 130,538,412 126,353,463 89,323,412 95,221,419 Real Property 33,995,559 33,915,263 33,578,039 32,348,372 31,739,037 31,017,913 33,917,297 33,718,256 32,220,678 32,011,783 31,611,785 Security Deposits (25,079) (5,544,122) (5,732,346) (4,830,550) (4,713,691) (4,505,465) (4,757,400) (389,823) (3,872,812) (650,907) (589,292) NET ASSETS $ 112,839,476 $ 112,424,313 $ 105,392,516 $ 111,136,860 $ 120,801,160 $ 134,453,052 $ 148,547,341 $ 169,184,923 $ 159,281,543 $ 125,116,878 $ 130,443,028 PERCENT CHANGE 10.14% -0.37% -6.25% 5.45% 8.70% 11.30% 10.48% 13.89% -5.85% -21.45% 4.26% ASSET TYPE FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Accounts Receivable $ 3,322,554 $ 3,043,479 $ 2,590,337 $ 2,182,067 $ 1,809,881 $ 1,891,934 $ 1,330,518 Cash & Investments 109,848,703 105,302,752 114,050,989 123,548,961 117,368,874 105,668,650 117,149,881 Real Property 31,743,427 31,669,233 30,070,519 30,052,437 30,048,077 30,319,842 30,278,763 Security Deposits (601,398) (383,108) - - (10,100) - (1,750) NET ASSETS $ 144,313,286 $ 139,632,356 $ 146,711,844 $ 155,783,465 $ 149,216,731 $ 137,880,425 $ 148,757,413 PERCENT CHANGE 10.63% -3.24% 5.07% 6.18% -4.22% -7.60% 7.89% 23
Historical Land Grant Endowment Trust Fund Balances $180 $160 $140 $120 $100 MILLIONS $80 $60 $40 $20 $0 Cash & Investments Real Property Accounts Receivable 24
UA Facilities and Land Management HISTORICAL EXPENDITURES SUMMARY FY03 - FY17 HISTORICAL EXPENDITURES SUMMARY FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 BOC Expenses (Bragaw) All Exp, excl the BOC 1,885,684 1,633,149 1,696,506 1,799,036 1,790,833 2,525,402 1,706,787 1,314,583 Salaries (incl staff benefits) 683,164 620,616 776,491 900,470 941,772 1,060,365 1,267,578 1,131,469 TOTAL EXPENDITURES $2,568,849 $2,253,765 $2,472,998 $2,699,505 $2,732,605 $3,585,767 $2,974,365 $2,446,052 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 BOC Expenses (Bragaw) 2,227,587 1,899,866 1,948,250 2,165,320 All Exp, excl the BOC 1,361,854 914,512 834,914 909,623 1,042,530 852,359 602,302 Salaries (incl staff benefits) 1,122,163 1,231,926 1,791,790 1,793,243 1,634,550 1,389,671 1,624,332 TOTAL EXPENDITURES $2,484,017 $2,146,437 $2,626,705 $4,930,453 $4,576,947 $4,190,280 $4,391,955 25
ANNUAL PROPERTY DESIGNATION ANNUAL REPORT FY17 The University of Alaska owns approximately 150,635 acres of fee simple and surface rights interest in land throughout the state. This includes approximately 12,180 acres designated as educational property and 138,455 acres designated as investment property. Educational property includes the three main campuses in Fairbanks, Anchorage, and Juneau, over a dozen branch campuses, and numerous research sites and facilities. All land that is not specifically designated as educational property is designated as investment property. The purpose for the investment assets are for monetization, to benefit the University Land Grant Trust. Through its Facilities and Land Management office, the University maintains an active land management program that focuses on the responsible management and development of all of the University s land and resources. In accordance with Board of Regents policy P05.11.040, the annual reports summarizing the University s educational and investment designated properties are attached. 26
PROPERTY DEFINITIONS Fee Simple: An estate under which the owner is entitled to unrestricted powers to dispose of the property, and which can be left by will or inherited. Commonly, a synonym of ownership. (The Real Estate Dictionary IRWA) Surface Rights: The rights (easements) to use the surface of land, including the right to drill or mine through the surface when subsurface rights are involved. (The Real Estate Dictionary IRWA) Subsurface Rights: The rights, whether by fee or easement, to oil, gas, or minerals, below a certain depth beneath the surface of land. The right of surface entry may or may not be excluded, and is important to the value of the surface land for improvement purposes. (The Real Estate Dictionary IRWA) Timber Rights: Timber owner means a person who owns timber on forest land or who has the rights to timber, but does not own the land itself. (Alaska Statutes) Mining Claims: Federal - A federal mining claim is a particular parcel of federally administered land that is valuable for a specific mineral deposit or deposits. This is a parcel for which an individual has asserted a right of possession. State Under state mining law, a mining claim grants the exclusive right to the locatable minerals in the ground. (BLM website) Easement/ROW: Easement A right created by grant, reservation, agreement, prescription, or necessary implication, which one has in the land of another. It is either for the benefit of land (appurtenant), such as right to cross A to get to B, or in gross, such as a public utility easement. Right Of Way A strip of land which is used as a roadbed, either for a street or railway. The land is set aside as an easement or in fee, either by agreement or condemnation. May also be used to describe the right itself to pass over the land of another. (The Real Estate Dictionary IRWA) Partnership Interest: Partnership as defined by the Uniform Partnership Act, An association of two or more persons to carry on as co-owners, a business for profit. The business must be lawful and the partners must agree to share in the profit or loss (but not necessarily equally). (The Real Estate Dictionary IRWA) Royalty: Mineral royalty A right to a share of income from mineral production. (Black s Law Dictionary 7 th Edition) Trust Land: trust land means all land and interests in land directly or indirectly acquired in connection with federal grants under the March 4, 1915 and January 29, 1929 Acts of Congress, or otherwise received by or granted to the board for purposes of funding the land-grant endowment established pursuant to the 1929 Act of Congress and AS 14.40.400. For purposes of this definition, indirectly acquired land and interests in land include replacement land acquired from the State of Alaska and land exchanged for trust land. The Board of Regents, as a constitutionally created instrumentality of the State of Alaska, has been named by the legislature as trustee and holds such land in trust for the exclusive benefit of the university. (Board of Regents Policy) Other Land: Land not designated trust land - acquired by purchase or donation. Investment Property: Investment property is defined as all University real property not designated as educational property. (Board of Regents Policy) Educational Property: Educational property is defined as all University real property designated for education, research, related support, or administrative purposes. (Board of Regents Policy) University Real Property: means all land and interests in land of any kind or nature, including all appurtenances, where title is held by either the Board or the University, whether acquired through purchase, grant, gift, exchange, or other means. (Board of Regents Policy) 27
University of Alaska Southcentral Alaska Land Holdings Tok Talkeetna Glennallen 32 Bethel Wasilla Anchorage Kenai Kasilof Whittier McCarthy Valdez Cordova Seward Anchor Point Homer Kodiak Legend University Property Cold Bay Total Acreage = 59,042 UA FACILITIES and LAND MANAGEMENT February 2017 65 Miles 28
29 Gulkana Gulkana Gakona Talkeetna Talkeetna 20 Miles University Property UA FACILITIES and LAND MANAGEMENT February 2017 Total Acerage = 68,588 Talkeetna Legend Paxson Gakona Gulkana Talkeetna Healy Delta Junction Anderson Nenana Fairbanks Ester Nome Livengood Fort Yukon University of Alaska Northern Alaska Land Holdings
Petersburg Klawock Sitka Kake Wrangell Edna Bay Hollis Thorne Bay Naukati Coffman Cove Metlakatla Craig Juneau Haines Skagway Hydaburg Ketchikan UA FACILITIES and LAND MANAGEMENT February 2017 University of Alaska Southeast Alaska Land Holdings 23 Miles Canada Total Acreage = 23,074 Legend University Property 30
Region Fee Simple Surface Rights Subsurface Only Timber Rights Mining Claims Easement/ ROW Partnership Interest ALASKA PENINSULA 1,151 1,393 2,544 1.18% ANCHORAGE 9 879 888 0.41% COPPER BASIN 6,637 902 7,539 3.50% FAIRBANKS 11,102 2,974 2 2 19 14,098 6.55% GULF 331 843 1,225 61,876 40 21 64,336 29.88% HAINES 13,826 6 1,070 14,902 6.92% HOMER 2,844 46 981 1 3,872 1.80% JUNEAU 713 713 0.33% KENAI 12,146 361 340 12,847 5.97% KETCHIKAN 5 2,499 145 2,649 1.23% MAT-SU 8,058 110 1,425 1 9,593 4.46% NENANA 12,404 1,397 3 13,804 6.41% OUT OF STATE 30 30 0.01% PETERSBURG 113 1,109 41 1,262 0.59% PRINCE OF WALES 4,095 4 4,099 1.90% SALCHA-DELTA 7,872 855 8,726 4.05% SITKA 438 17 455 0.21% UPPER SUSITNA 14,075 80 325 14,480 6.73% VALDEZ 312 259 73 1 645 0.30% WEST FAIRBANKS 8,040 559 32 8,631 4.01% WHITE MOUNTAIN 19,244 675 19,919 9.25% WRANGELL ST. ELIAS 7,291 340 1,628 9,259 4.30% Royalty Total Percent of Total TOTAL 126,201 12,255 14,841 61,876 40 59 2 19 215,293 100% Type TRUST LAND (Grants, Settlement I & II) OTHER LAND (Acquisitions & Donations) Fee Simple Surface Rights UNIVERSITY OF ALASKA - REGIONAL SUMMARY OF INVESTMENT PROPERTY FY17 (in Acres) Subsurface Only Timber Rights Mining Claims Easement/ ROW Partnership Interest Royalty Total Percent of Total 124,640 12,139 13,770 61,876 212,426 98.67% 1,561 115 1,071 40 59 2 19 2,867 1.33% TOTAL by Interest rights 126,201 12,255 14,841 61,876 40 59 2 19 215,293 100% Total acres of Trust Land = 136,779 (fee simple + surface rights) Total Acres of Other Land = 1,676 (fee simple + surface rights) Total Acres University Owned= 138,455 31 *Some columns do not add correctly due to rounding.
UNIVERSITY OF ALASKA - INVESTMENT PROPERTY DESIGNATION REPORT FY17 (in Acres) Area Management Unit Number of Properties Fee Simple Surface Rights Subsurface Only Timber Rights Mining Claims Easement/ ROW Partnership Interest Royalty Total Acres Percent of Total ALASKA PENINSULA Cold Bay 2 13.0 13.0 Iliamna Lake 1 1,368.3 1,368.3 Left Hand Bay 1 8.0 8.0 Reynolds Head 1 3.9 3.9 Ugashik Lake 3 472.9 472.9 Wide Bay 2 678.5 678.5 ANCHORAGE Column Totals: 10 1,151.3 1,393.2 2,544.5 1.18% Anchorage 5 0.9 285.1 286.0 Bragaw Street 2 3.6 3.6 Eagle River 4 593.3 593.3 Girdwood 2 0.3 0.3 Hope 2 0.3 0.3 Learning Center 1 0.3 0.3 University Lake 2 4.1 4.1 COPPER BASIN Column Totals: 18 8.6 879.3 887.9 0.41% Aspen Acres 13 15.6 24.5 40.1 Copper Center 20 3,824.2 315.0 4,139.2 Copper Flats Subd 48 200.4 200.4 Gakona 12 282.5 91.2 373.7 Glennallen 12 862.7 76.7 939.4 Klutina River 5 42.0 42.0 National Park Service 2 233.0 233.0 Silver Springs Terrace Subd. 44 74.0 45.5 119.5 Spruceview Subd 4 34.6 34.6 Tazlina 11 1,377.1 40.0 1,417.1 FAIRBANKS Column Totals: 171 6,636.6 902.5 7,539.0 3.50% Aurora Subdivision 8 5.1 5.1 Bender Mountain 1 2.5 2.5 Bog Subdivision 1 28.4 28.4 Bog View Subdivision 2 122.5 67.6 190.1 Bradway Road 3 120.0 40.0 160.0 Chena Hot Springs 17 1,877.1 415.8 2,292.9 Chena Ridge 5 0.6 259.7 260.3 Chuna Subdivision 2 3.7 3.7 College 7 1,046.8 41.8 1,088.6 Downtown 3 1.2 1.2 Fairbanks 4 0.4 1.6 2.0 Geist Road 4 39.3 1.2 40.5 Gilmore 3 2,037.8 2,037.8 Gold Hill 2 39.7 18.5 58.2 Goldstream 17 4,116.1 849.4 4,965.5 Goldstream Subd 4 19.1 19.1 Golf Course 2 120.2 120.2 Lakloey Pk Subd 8th 1 1.0 1.0 Miller Hill Subd 1 26.2 26.2 North River Bend Estates 4 23.4 23.4 Peregrine Heights Subdivision I 31 69.8 69.8 32 *Some columns do not add correctly due to rounding.