A. Policy Statement
NMSU is dedicated to the responsible stewardship of its extensive physical resources including real estate, water rights, buildings, other capital improvements, and a wide variety of personal property including equipment and materials. Legal title to all physical assets, real and personal, is vested in the Board of Regents as the body corporate (NMSA 1978 §§ 21-3-4 et seq.), without regard to the academic or administrative entity that occupies or otherwise uses the asset. NMSU shall preserve adequate land holdings and water rights to meet all current and foreseeable academic and support needs. NMSU shall seek to enhance and maximize the productivity of those assets which exceed the current needs of university operations in a prudent manner that is designed to provide as much benefit to the university as feasible.
B. Reservation of Authority
The Regents are responsible for ensuring the efficient and appropriate acquisition, use, maintenance, and disposition of the University’s physical resources. Toward that end, each of the following actions or events require approval of the Regents:
- The purchase, acquisition, sale, lease, encumbrance or mortgage of real estate or water rights.
- Any transaction which would permanently affect NMSU’s rights in real estate or water rights.
- Any capital project which results in the addition of building square footage, whether from the construction of new facilities or addition to existing facilities or purchase of portable structures.
- Any proposal to issue bonds for capital improvements.
- Any alteration or site improvement costing over $300,000.
- Any demolition of all or any portion of an existing building.
- Any increase of more than 10% of the budget or reduction of more than 10% in the gross square footage of an approved capital project.
- Proposals for the use of any funds derived from the sale, lease or transfer of real estate interests or water rights.
- Any proposal for disposition of obsolete, worn-out or unusable tangible personal property on the university capital asset list.
- The adoption of campus master plans for each campus.
C. Rulemaking Authorization
The Regents of New Mexico State University authorize the Chancellor to formulate and amend the Administrative Rules and Procedures (Rules) addressing the management of the university’s real estate, water rights, capital improvement projects, construction projects, campus space and use planning, maintenance and repair of university facilities and grounds, equipment and supply inventory. Such Rules shall be consistent with this policy.
D. Delegation of Authority
Notwithstanding the reservation of authority set forth in section B above, the Board of Regents delegates authority and responsibility for reviewing, approving and executing the following types of transactions to the Chancellor or designee:
- Real estate transactions involving a term of less than ten (10) years, including any options to extend;
- Real estate transactions which involve a total university cost or liability (excluding operating expenses) of no more than $100,000 per year; and
- Real estate easements which grant a specific, limited use of real property for a term not to exceed ten (10) years. Such uses shall include agreements relating to access, utilities installations, data/telecommunications facilities, rights of way, ingress, egress, sanitary sewers, pipelines and drainage.
E. Repeal of Related Policies
By previous action of the Board of Regents on October 21, 2015, the contents of the former NMSU Policy Manual were replicated in the Administrative Rules and Procedures of NMSU (the ARP) and remain in full force and effect. Upon adoption of this policy, the remaining policies in Title 9 of the Regents Policy Manual are repealed from the Regents Policy Manual, but remain in effect in the ARP until amended or repealed.