Oklahoma State University Acquires Ninety-Nine Percent of Properties for Athletic Village Complex

Monday, July 23, 2007

(STILLWATER, Okla, July 23, 2007)– Oklahoma State University has made significant progress in the past year to acquire all of the property needed to build an athletic village complex on an 80-acre site north of Boone Pickens Stadium.   The complex will house a number of athletic facilities to support OSU men’s and women’s sports including an indoor multi-purpose training facility, baseball stadium, track, soccer and indoor as well as outdoor tennis facilities.    
 
The OSU Foundation began to acquire properties for the University in phase two after completing the purchase of 86 of 87 properties in phase one north of Hall of Fame Avenue to McElory and between Washington and Knoblock.  OSU has either acquired or negotiated voluntary agreements to purchase 178 properties in phase two running north of McElroy to Eskridge between Washington and Duck.  
 
“We have successfully acquired 99 percent of the properties through voluntary negotiated settlements with more than 175 property owners,” said Kirk Jewell, President and CEO of the OSU Foundation. “That is remarkable and it is a testament to the extraordinary efforts of our General Counsel, Gary Clark, who has led this enormous project the past two years.  We cannot say enough about him and his team.  We are truly grateful to him for his willingness to take on this massive project.”
 
OSU has worked to accommodate property owners in the area.  In addition to paying fair market value for properties, OSU has relocated homes and apartments as well as trees and other sentimental items.
 
“We have tried to be as careful, thoughtful and respectful as possible with every property owner” commented Gary Clark, General Counsel for the OSU Foundation.  “We appreciate the cooperation of the many property owners who worked with us during this process.”
 
Clark said he was pleased the voluntary purchase program worked so well. “We have been more successful purchasing properties on a voluntary basis than we could have ever imagined,” he said.
 
OSU has worked to avoid using eminent domain to acquire properties.   The University has always said eminent domain would be a last resort.   “We always put forth a good faith effort to purchase a property for a fair price and do the right thing for the property owner.  The fact we have purchased 99 percent of the properties on a voluntary basis we think speak volumes,” Clark said.  
 
Eminent domain proceedings are pending at this time to acquire one property in phase one.