UA-R-GC-1914-01-01-1956-06-29_Page-055

i Aftor this plan, tho immodiato problom is to raiso tho 500,000 nocossary for tho ror_oval of tho Lincoln School. Aftor this pro joct is complot,., a socond campaign for tho rolloval of tho Faculty of irts and Scioncos would bo inau3urat-od, tho "first staoo" buildings of tho Faculty of Arts and Sci.;ncos group would bu oroctod. Thus would bo followoci by tho "socond star.;" buildings as quickly agi; funds could bo socur-od. Financin _ tho Romoval of Lincoln School - To financo tho romoval of Liacoln School, tho following rosourcos aro availablo: Funds raised in USA (oxcludin.. j 7ey)rhausor) 82,091 Salo of Cairo propevtzs Suburban Plots XYZ Z 44615 SM at 2.- 357,520 City Situ - 2810 Si. at 30.- 337,200 Total Rosourcos Cost of Lincoln School 500,000 Surplus for invostinont 3 276,811 Financinho Fivo Yoar Plan - Thu surplus obtainod from th:; salo of Cairo proporty could bo usod to roduco or wipo out tho prosont dobt of tho Univorsity. Howavor, tho claims of tho Fivo Yoar Plan must bo rocoonizod, and in this surplus thon; is tho opportunity to financo that plan without asking tho Trust: os to raiso any moro monoy in tho Unitod Stat.;s. Tho plan is that considorod last yoar of orocting an offico building on tho font portion of tho city-sito athlotic fiold. Dr. Cloland's Eomorandum of Docombor 21, 1946 to tho Suburban froporty Co:mittoo studiod tho proposal in dotait., and on tho basis of that study tho followinz figurus aro prosontod. Cost of :Crotj.~ct ~._ ~ Eroction of 15 story offico building 1710 SM on cornor of AUG city propo rty 151, Cí. C Valuo of Land (2167 SM at r, 45.-) 97,515 TOTAL COST 248,515 ~ 776,81