The Provost or designee for space needs in New York City and elsewhere. The Cornell unit cannot execute a lease until such review is complete. Therefore, unit advance planning in lease space arrangements is essential to timely development of appropriate space solutions. Renewing Leases Leases with existing space approvals and leases of less than one-year term: Can renew with appropriate financial and legal approvals, as advised by Real Estate. Real Estate will notify the Space Management Program Manager and the Facilities Information Group of such renewals. Leases without an existing space approval: Will complete the process for new lease space, as above. Transactional Approval Transactional approval for all leases (space and/or land) is as prescribed by Policy 4.2, Appendix C which references the Cornell University Real Estate Administrative Plan. Only three people the Senior Director of Real Estate, the Vice President of Infrastructure, can sign leases – Properties and Planning, or the Executive Vice President. Unit representatives cannot sign leases. Real Estate will determine the appropriate authority in each instance. In order to provide consistent and organized information regarding the lease arrangement, all transactions that must be presented to the Capital Funding & Priorities Committee will complete a Lease Approval Request (LAR). Best Practices for Developing Cornell Leases Academic and administrative units need to coordinate all lease activities through the lead facilities director and/or business officer for the college/division before working with other University officials. Units need to be considering the need for leased space to meet programmatic needs as far in advance as possible. The larger or more complex the space need, the more benefit can be derived from longer planning horizons. There are many variables in each phase of the lease process, from finding the correct property, negotiating, internal reviews and approvals, and custom fit-out. The length of time is impossible to estimate, as every instance is unique. Within Tompkins County, Cornell-to-Cornell leases are preferred over Cornell leases from third parties. New Cornell leases outside of Tompkins County and New York City should consider with other local Cornell interests, where possible. In any location, co-location arrangements with other Cornell units are preferred.
The Provost or designee for space needs in New York City and elsewhere. The Cornell unit cannot execute a lease until such review is complete. Therefore, unit advance planning in lease space arrangements is essential to timely development of appropriate space solutions. Renewing Leases Leases with existing space approvals and leases of less than one-year term: Can renew with appropriate financial and legal approvals, as advised by Real Estate. Real Estate will notify the Space Management Program Manager and the Facilities Information Group of such renewals. Leases without an existing space approval: Will complete the process for new lease space, as above. Transactional Approval Transactional approval for all leases (space and/or land) is as prescribed by Policy 4.2, Appendix C which references the Cornell University Real Estate Administrative Plan. Only three people can sign leases – the Senior Director of Real Estate, the Vice President of Infrastructure, Properties and Planning, or the Executive Vice President. Unit representatives cannot sign leases. Real Estate will determine the appropriate authority in each instance. In order to provide consistent and organized information regarding the lease arrangement, all transactions that must be presented to the Capital Funding & Priorities Committee will complete a Lease Approval Request (LAR). Best Practices for Developing Cornell Leases Academic and administrative units need to coordinate all lease activities through the lead facilities director and/or business officer for the college/division before working with other University officials. Units need to be considering the need for leased space to meet programmatic needs as far in advance as possible. The larger or more complex the space need, the more benefit can be derived from longer planning horizons. There are many variables in each phase of the lease process, from finding the correct property, negotiating, internal reviews and approvals, and custom fit-out. The length of time is impossible to estimate, as every instance is unique. Within Tompkins County, Cornell-to-Cornell leases are preferred over Cornell leases from third parties. New Cornell leases outside of Tompkins County and New York City should consider with other local Cornell interests, where possible. In any location, co-location arrangements with other Cornell units are preferred.