May 23-24, 2002

ITEM 115-1004-R0502   Approval to Negotiate Transfer of Ownership of the Marcus Daly Mansion, Hamilton; The University of Montana-Missoula

 

THAT: The Board of Regents of the Montana University System authorizes The University of Montana-Missoula to negotiate the transfer of the Marcus Daly Mansion in Hamilton from the Montana Historical Society to the University for ownership and management purposes, subject to approvals by the Society Board of Trustees and the State Land Board.

 

EXPLANATION: The University has received a request from the Montana Historical Society and the Marcus Daly Mansion Preservation Trust leadership in Hamilton, Montana, to transfer ownership of the Mansion to the Montana University System. The Trust will continue to manage the Mansion, subject to University oversight pursuant to a management agreement between the University and the Trust similar to the management agreement between the Historical Society and the Trust. The Mansion transfer, if approved by the Board of Regents, the Historical Society Board of Trustees, and the Montana State Land Board, will require no payment by the University or the University System. The Trust will manage the Mansion on a financially self-sustaining basis with revenues from visitor fees, grants, and miscellaneous income sources. The management will require no University or University System operating funds. From time to time, however, University academic programs will likely participate in various Mansion activities at University expense. University groups will also likely pay rental fees for Mansion use on certain University-sponsored occasions, and The University of Montana Foundation will coordinate fund-raising activities on behalf of the Mansion. The transfer will require approval of a management agreement between the University and the Trust in accordance with applicable legal requirements and approved by the Regents. The Trust will maintain the Mansion at Trust expense, as well as comply with all applicable Montana historical preservation laws. Following Board of Regents' approval of the transfer, the University will seek Society Board of Trustees and Land Board approval.