‘Tue University of Texas Svsren ‘March 1,2017 Mr. Paul Foster halrman ‘The Unversity of Texas System Board of Rgeats 201 West 7, Suite 820, ‘Austin, Texas 78701 Dear Charman, Iehas become clear to me thatthe propose Houston projects overshadowing the extraordinary work underway on the 14 campuses of the UT System. [do not wish to do ‘anything that distracts from the advancement of our institutions and their presidents ‘isons. Therefore, lamadvising the Board of Rogents that any further efforts on the Houston project wil bestapped immediately. | accep ll respensbilty forthe lackof progress on this initiative. 1am gratefl to ‘the Regents, my System staff andthe university presidents for thelr engagement over the last year {also offer my deepest apology to those members ofthe Houston Task Force who selfesely dedicated countess hours to develop abold vison forthe future of U's {nvestment in Houston. [am incredibly appreciative for their support and friendship throughout ths process While we will not implement this plan in Houston, Lam confident that some ofthe grest ideas that emerged from the Task Force will be worth considering on other UT campuses. {will also recommend tothe Board of Regents that our realestate office develop a plan to divest the Systen ofthis lan. e will cae time, ut we will doo in a manner that protects the Systems investment inthe propery ‘1am grateful for your support ofthe UTSystem and look forward to working with the Board and you on the many opportunities ahead. wanyiop ‘retiy car a fens oer Ne er The Uap ots Ma en On——— — from: fe, Kevin Sent: Wednesday, March, 2017 10:57 AM To: MeRaven, Wiliam cwncraven@uteystem edu Subject: chanel: kevin efrom ace sc Eero Pc ra Miscnmente aguas) Thankyou From: Martines, Art Sent: Wedesday, March, 2017 10:8 AM Tor Elif, Kevin ce: cRaven, Wt ; Mul Terry ; Dendy Philp ;Pankratz ana Subject: Houston IittiveLand Purchase Adtionalnfermation Regent Elite, Here isthe remaining information promised last week to complete the overview ofthe Houston land aequstion Payments to Jackson Waller Payments to the Jackson Walker law fen total $685,675 (see Attachment T— Payments to Jackson Walker 0W) sent previousl). OF tis amount, 67,271 was for legal fees. The remaining $218,408 as for payments made by¥ tothe folowing third party vendors 1. $163,575 to Teaco to investigate the property prior to purchase (see below) 2. $80,673 to Thoreentsle or real estate consulting 3, $2,900 to Terra Suey for surveys 4. $1,256 to miscellaneous vendors ‘Cos of Handling Environmental sues ‘hanelor McRaven advised Senator Whitmire that the UT System estimates the cost thane any ‘environmental sues related tothe property tobe less than $2 millon (see AtachmeatR Page 3of theletter from Chancellor cRaven to Senator Whitmire sent previousots ta date are $163,575 paid to Terracon, to investigate the property prior to purchase fr research of historical us, amping and ste instigation to understand the extent of any potential ‘envonmental concerns (Mase | and Phaze Ise investigation). ates for $251406, of which $41,156.31 has been biledto LThas an agreement witht asso dat, forte folowing wor 7284 hasbeen bile 0 Ur als has an agreement with Half Associates fr $40,900, of which date, for addtional due digence work speciialy on Tae. -Adeitionl site work wll ee to be completed on portions of tract D prior ta regulatory sire. The ‘Appralsls of the Property The apprasls have been scanneland wl be sent ia thumb civ, by overnight delivery, because ofthe file size ofthe docunents, Please let me know i oukave any questions or follow um requests after your review of Best Regards