| Summary: | Board of Trustees -11- benefit from hearing about opinon polls from Mr. Harrison, a professional polster used by Mobil. The Board thanked Mr. Mac Donald for his report. May 19, 1988 10. Report of the Campus Planning & Housing Committee: Mr. Bacon. Mr. Bacon reported on the following projects: Jameel Building - The building is roughly two weeks behind schedule. The final cost of the building is estimated to be $5.5 million. The Jameel family gift and accumulated interest now total $6.25 million, so that there exist ample funds to cover the project. Dormitory - The eleven-story (plus basement) dormitory will include rooms for 400 students and 22 apartments. The bids came in higher than were expected. Two conÂÂstruction firms, Sami Saad and SCI, were the low bidders. Sami Saad was judged to have the lowest bid and the architects have recently completed a review of Sami Saad's capabilities. The building is expected to cost $7.8 million, with a 10% contingency bringing the total to $8.46 million. Monies given or pledged - including AID/ asha grants and Plant Funds - now total $6.25 million. Approximately $2.2 million are left to raise. New Law - Law Number 56 regulating ownership of property by non-Egyptians was approved recently. The laws permits non-Egyptians to own land providing that the ownership should be of only one piece of property, the area may not exceed 3000 meters, foreign currency must be used in the purchase. The cabinet may make exceptions to the first and second provisions; the third can be set aside by presidential decree. Sadat City - Pursuant to the Board's approval to purchase an apartment building in Sadat City. The total price of the building is LE240,000. Approval for the purchase has been given by the Building Committee of the Sadat City Authority. Application to the Council of Ministers for approval to purchase the building will made. DDC Lease - The 25 feddans used by the DDC at Sadat City is to be leased to AUC for thirty years with an extension as allowed by law. However, current law ...
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