The foundation’s board of directors authorized $3.3 million for the purchase of the property from Solae, LLC, which is a subsidiary of DuPont Corp. The 22 concrete silos are a local landmark and have been adorned with large “UNIVERSITY OF LOUISVILLE” lettering or other UofL signage over the years.
University of Louisville and its foundation have been looking to buy the property, which has long been included in UofL’s master plan. The property became available when Solae’s Louisville operation closed in 2012. Foundation secretary Kathleen Smith said the sale is expected to be completed by mid-January, but the university has no immediate plans to tear down the silos or develop the property.
The foundation board also approved the expenditure of up to $2.8 million to purchase property at 204 E. Market St. in downtown Louisville. The property is owned by Dulworth Family Limited Partnership and is the former site of Dulworth Office Furniture Company. The foundation is negotiating to buy the property for a potential expansion of its subsidiary – Nucleus, which owns three buildings within a block of the Dulworth property.
The foundation board also:
- Nominated former UofL trustee and Jefferson County Judge-Executive Rebecca Jackson to a seat on the foundation board
- Approved a recommendation from the College of Business to take $150,000 in unrestricted funds to set up the Moyer MBA Scholarship Quasi-Endowment Fund in honor of former business school dean Charlie Moyer. The fund would provide scholarships for students enrolling in the full-time MBA program