During a Stated Meeting of the Executive Committee of the University of Pennsylvania Board of Trustees on Thursday, December 9, 2021, President Amy Gutmann reported on the in-person Commencement Ceremonies for the Class of 2020 and the Class of 2021 (Almanac November 16, 2021).  She also noted the launch of a $750 million investment to advance Penn’s pathbreaking contributions to innovative and impactful areas of medicine (Almanac November 23, 2021). President Gutmann also congratulated Penn’s two 2022 Rhodes Scholars (Almanac December 7, 2021).

Trustee Board Chair Scott Bok presented revisions to resolutions approved at the November meeting, the first to clarify   that the creation of Penn Live Arts did not change the name of the Annenberg Center building. The second resolution revised the start date of the term of Mr.  Imasogie as a Charter trustee to January 1, 2022.  Mr. Bok also presented a Resolution to elect Kevin S. Penn to the Investment Board.  Interim Provost Beth Winkelstein reported that the results of a recent faculty survey indicated the majority of faculty members were pleased with their level of engagement with their students. She also indicated that, as part of Penn’s sustainability initiatives, a pilot program was launched to provide a free SEPTA Key Card to all enrolled Penn graduate and professional students who live in the Philadelphia area. 

During the Budget & Finance Committee meeting earlier that day, Executive Vice President for the Health System J. Larry Jameson provided an update on Penn Medicine’s research space planning and recent advances by Penn Medicine physicians. He also discussed the faculty growth rate and research spaces.

The following three resolutions were approved at the Stated Meeting: a resolution to authorize a ten-year lease for the Perelman School of Medicine for Research Growth in University City, Philadelphia for a total obligation up to $40,700,000, inclusive of up to $24,200,000 in capital; a resolution to authorize a ten-year lease for Penn Medicine’s aging-related research and clinical programs for a total obligation up to $26,400,000 inclusive of up to $13,300,000 in capital net of landlord allowance; and, a resolution to authorize a ten-year lease for the Perelman School of Medicine-Pennovation Works Lab Building at 3401 Gray’s Ferry Avenue for a total lease obligation up to $16,200,000, inclusive of up to $10,300,000 in capital.

The Board of Trustees winter meeting will be held on March 3-4, 2022.