UC Berkeley Agrees to an $82.6 Million Settlement With Berkeley
As part of its commitment to pay $82.6 million to Berkeley in the next 16 years, UC Berkeley will funnel $920,000 into the city’s Housing Trust Fund as recompense for demolishing eight rent-controlled apartments in order to build the 772-bed Anchor House dormitory, according to a settlement between the city and the university.
The university also will “explore relocation and the cost of relocating the eight-unit building at 1921 Walnut St. and if it is technically feasible, to a site to be determined,” according to the agreement. Mayor Jesse Arreguín said today that the city is already looking for land and will soon reach out to private developers with expertise in moving historic properties.
Those are some of the new details that emerged after UC Berkeley and the city of Berkeley signed a new settlement agreement Tuesday that governs how the two entities will interact over the next 16 years. The settlement supersedes the one the two bodies signed in 2005 over Cal’s long-range development plan. This agreement goes from 2021 to 2037, about the length of UC Berkeley’s newest long-range development plan, which the UC Board of Regents approved July 23, along with an accompanying environmental impact report.
