The University of Colorado could get as much as $1.3 million from its Boulder campus and use the money to not only defray the cost of moving the president’s offices to Denver but also to pay up to five years of rent at the new site, according to a study to be released Saturday.
The regents last month directed administrators to study moving the president’s offices and support staff closer to the legislature and business supporters in Denver.
The move would also signal that the president represents the whole system and not just the Boulder school.
Incoming president Hank Brown, who could not be reached for comment Wednesday, has said he supports the move.
University sources, who have seen the report, said it lays out a variety of scenarios and office sites. Potential locations include Interlocken, downtown Denver and the Denver Tech Center. The report estimates the current value of the president’s offices at 914 and 924 Broadway in Boulder between $1 million and $1.3 million.
The report does not make a recommendation about whether the university should move the office but says that the school could break even or save money.
But Regent Cindy Carlisle, who voted against the study and opposes a move, said the school would just be selling assets it already owns, so there would be no net savings.
“It’s a shell game,” she said. “Selling the buildings from the governing body to the Boulder campus wouldn’t pay for itself.”
Regent Michael Carrigan, who proposed the resolution studying the move, said the Boulder campus needs additional space for student services and would have to build a new structure or take up dormitory space if it doesn’t buy the president’s offices.
“I believe the move still makes a lot of sense,” said Carrigan, who represents Denver on the board. “It makes more economic sense than building additional office space, and it makes sense to bring the CU system leadership to be closer to where it does business.”
The study estimates that the school could save as much as $800,000 with the move, according to one source, making it economically beneficial.
But Carlisle, who represents Boulder, said that in tight budget times there is no reason to spend money on something as frivolous as moving the president’s office.
“Expending any kind of money in these tight times is unnecessary,” she said, adding that the president’s office should be on one of the campuses.
Michele McKinney, spokeswoman for outgoing president Betsy Hoffman, would say only that the report will be made public at Saturday’s regents meeting.
While the regents could vote on whether to move ahead with the relocation Saturday, it is unlikely that they will do so, Carri gan said.
However, Hoffman and Brown both said they would like to see the office moved within the coming fiscal year if regents decide to proceed with the plan.
Staff writer Arthur Kane can be reached at 303-820-1626 or akane@denverpost.com.
