DESIGN, DEVELOPMENT, AND MANAGEMENT OF MIXED USE PROJECT
The University is currently leasing a significant amount of commercial office space in
several locations. Given the demonstrated need for office
space, the University desires to consolidate these administrative functions into a single
office building and in the process, reduce
and contain costs associated with leasing office space. Additionally, the University desires
to provide a commercial/retail street frontage which may include
relocation and expansion of the University Book Store as another component of this
project. Finally, adequate parking for the all of the project elements shall be provided. (the
above elements collectively hereinafter referred to as the Project)
The University is seeking a fee-based public/private partnership where a non-profit or forprofit
entity, working in conjunction with a private developer, would design, finance, and
construct the Project. The University will enter into a master lease of the Project with a
purchase option after year 15, or a different lease/purchase structure determined to be in
the best interest of the University. The goal of this offering is to a.) accommodate the
Universitys space needs while significantly reducing the Universitys lease costs and b.)
minimize or eliminate any impact of the Project to the Universitys credit and balance sheet.
In terms of the latter, the University will not participate in any project financing or provide
any form of guarantee beyond the Universitys master lease of the Project.
