UT Board of Regents approves purchase of ASARCO site

El Paso, Texas

The Board of Regents of the University of Texas System have approved the authorization to proceed with the potential purchase of the ASARCO Smelter Site for use by UTEP.

“We are working to finalize a contract and move toward closing in the next 30 days,” said Robert Puga, Custodial Trustee. “This milestone is the culmination of many years of collaboration and planning between the two entities.”

The ASARCO smokestacks were demolished in April 2013 and the trustees have been working to clear the site of all potential environmental hazards before placing the land up for sale.

UTEP had been eyeing the location due to its proximity to the University and the potential for further expansion of the campus. The negotiations were conducted by the Regents of the University of Texas System. No sales price was announced.

All net proceeds from the impending property sale will go directly into the ASARCO Trust to be used for future environmental operations, maintenance and monitoring plans.

Source: http://www.elpasoproud.com/news/local/el-paso-news/ut-board-of-regents-approves-purchase-of-asarco-site