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January 27, 2004
To: Campus Community
From: M.R.C. Greenwood, Chancellor; Martin M. Chemers, Campus Provost and Executive Vice Chancellor
Re: UCSC to acquire Texas Instruments property
Space on campus is at a premium, and the lack of adequate space is a difficult challenge that we have been working to address.
Now, we are pleased to announce that our campus has entered escrow to acquire 18 acres and extensive facilities currently owned by Texas Instruments (TI) on Delaware Street in Santa Cruz. Vice Chancellor Tom Vani has led the negotiations between UC Santa Cruz and TI headquarters in Dallas. The outcome is very favorable and in the campus's best financial interest.
Specifically, the acquisition of this property will serve short-term needs and advance long-term goals. Among advantages, the location presents the significant potential of consolidating other off-campus property leases when they expire; it is nearly contiguous with the Long Marine Lab area, offering transportation and other benefits; the facilities are research-friendly, with large "clean rooms" and a specially-designed computer room; the property is in a desirable location that will only increase in value; and there is ample parking.
In addition, we anticipate that this acquisition will provide new opportunities for collaboration with the City of Santa Cruz, which, along with nearby businesses, will benefit from having the facility occupied after a three-year closure.
The parties have agreed not to disclose the details of the acquisition at this time. However, even in advance of the closure, we would like to thank Texas Instruments for its extraordinary cooperation in making this acquisition possible.
A news release will be issued later today. It is available at:
press.ucsc.edu/text.asp?pid=445.
Maintained by:pioweb@ucsc.edu