The Committee on Facilities and Campus Planning shall have a standing Subcommittee on Real Estate and Development.
RESPONSIBILITIES AND DUTIES
The Subcommittee shall perform such duties as may be designated to it from time to time by the Committee on Facilities and Campus Planning, including matters relating to real estate, such as acquisition, disposition, future planning and long term strategy with respect to development and/or use of real estate, owned or to be acquired by Brown University, including geographic areas on and off the College Hill campus and or as may be designated by the Corporation as being of strategic interest to the University.
The Subcommittee shall work closely with the Committee on Budget and Finance on matters relating to the capital plan and financing for acquisitions, leases, and divestments.
From time to time, with input and recommendation from the administration, the Subcommittee shall review and update existing University Real Estate policies and procedures.
The Subcommittee shall make recommendations regarding the acquisition and disposition of real estate and other matters to the Corporation, and/or the President as appropriate.
The Subcommittee shall consist of the President, ex officio, and at least three other members appointed by the Chair of the Committee on Facilities and Campus Planning, at least one of whom shall be a current member of the Corporation and at least two of whom shall be current members of the Committee on Facilities and Campus Planning. A Chair of the Subcommittee shall be designated annually by the Chair of the Committee on Facilities and Campus Planning.
The Subcommittee shall be staffed by the Vice President for Real Estate and Strategic Initiatives.