12:32 p.m.: Political science faculty member James Hill requests the Board of Trustees to not adopt the proposed political candidacy policy during public comment. He said the existing policy has existed for half a century, and that it is important to give faculty a couple of months to give their input and help develop a policy that is more balanced and promotes public service.

12:36 p.m.: University President Michael Rao begins his report by recognizing Board Chairman Jeff Caponigro and trustee John Kulhavi, both in their last trustee meeting.

12:45 p.m.: Rao talks about the "tenuous economic situation" in the state. He said there is continued talk about a possible $900 million shortfall in the state over the next fiscal year, and that the university obviously is advocating no cut in higher education. He would like to invest more into "places that have issues," such as Anspach Hall.

1:02 p.m.: Provost Julia Wallace provided trustees with a list of prospective December 2008 graduates. She said there are a total 1,464 undergraduates and 1,170 graduate students on the list.

1:10 p.m.: Trustees approve a motion to negotiate a contract for the demolition of Washington Apartments O, P, Q and R, not to exceed $1.8 million. The parking lot which will take its place is designed to reduce the storm water in the area. Residents already are notified and will vacate the buildings by May 15.

1:14 p.m.: Trustees approve a motion to fund five additional deferred maintenance projects for a total of $1.2 million. The projects include domestic water line replacement in Anspach Hall, domestic water line replacement in Foust Hall, roofs for Kewadin Apartments (5 buildings) and Northwest Apartments (6 buildings), among others.

1:16 p.m.: Trustees approve a motion to contract for the renovation of the existing space occupied by ProfEd. The renovation includes new carpet, painting, and the associated costs to reorganize approximately 100 office cubicles. Costs are not to exceed $350,000.

1:20 p.m.: Facilities committee chair Gail Torreano said SHW Group showed Vice President of Finances David Burdette some concepts and ideas on the Bovee University Center renovation and the events center, as well as a possible addition to the Health Professions Building. Burdette said he is very pleased with the designs.

1:40 p.m.: Trustees approve a motion for the president to negotiate and execute a lease agreement for office space in the Lansing area for a period not to exceed five years. The space will be used for the Michigan Mathematics Program Improvement and the Michigan's Integrated Technology Supports projects funded by the state Department of Education. The cost is approximately $15,000 for the first year and up to $16,500 by year five.

1:43 p.m.: Trustees approve a motion to adopt the Political Candidacy of Employees Policy dated Dec. 4, 2008. The policy replaces the 1955-56 policy currently in force. Burdette said the new policy clarifies the language inside the 1955-56 policy and that he looked at other university policies. The approved policy encourages those CMU staff members who do wish to run for office as long as they address it with CMU first in mind. Burdette said that is to make sure the candidates understand their responsibilities as CMU employees while running for office.

1:48 p.m.: Rao said CMU has received the "first two major gifts" for the medical school - he said both he and trustee Sam Kottamasu have contributed $100,000 to the creation of the medical school. Board Chair Jeff Caponigro thanks Kottamasu for his dedication to the initiative.

1:57 p.m.: Trustees approve Gail Torreano as the next board chairperson to succeed current chair Jeff Caponigro at the start of next year. Also approved are two vice chairs - Stephanie Comai and Sam Kottamasu. Mary Jane Flanagan was approved as the secretary while David Burdette was approved as treasurer. Caponigro reminds that he and John Kulhavi will remain on the board until Gov. Jennifer Granholm appoints two new CMU trustees.

2:08 p.m.: Trustees approve the consent agenda, which includes the ratification of budget requests submitted for 2009-2010, Corporation for Public Broadcasting funding and Michigan Department of Education awards, among other items.

2:17 p.m.: Catherine Riordan makes her presentation on the CMU 2010 Vision Plan. She pointed out improvements to the school's Honors Program, with an increased number of Honors courses and a full four-year program. Other projects include a partnership with Flint schools to enhance recruiting and the promotion of student-faculty research.

2:28 p.m.: Trustees approve a motion to authorize the president to execute an amendment to the subcontract and other agreements necessary to complete a project with the CMU Research Corporation for research and development efforts for the treatment of perchlorate contamination in water for an amount not to exceed $352,925.

2:32 p.m.: Trustees establish University President Michael Rao's salary to an 8-year agreement through 2016 and an increase of 3 percent to $302,357 from $295,550, effective Jan. 1. There also are three possible one-year extensions up to the year 2019. Kulhavi said the board is extremely pleased with Rao's efforts and it will do the best it can to retain him. He said the deal makes Rao the 7th highest-paid president out of 12 in the Mid-American Conference.

2:37 p.m.: Meeting adjourned.

Check cm-life.com throughout the day Thursday and in Friday's CM Life for more coverage from today's meeting.