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Innovation Village update 5/28/08


Innovation Village update 5/28/08

Besides Jarvis' contract, the BOT meeting today will also include an update on the Innovation Village:

Fundraising Efforts
- Since March, three six?digit commitments have been secured
- Our advancement team is analyzing how best to generate further support from these successes.
- Intensive analysis of maximizing naming rights revenue
- Most likely a competitive process for naming rights, with final BOT approval of any proposal.

Competitive Invitation to Negotiate
- process underway
- will explore cost?effective transfer of development rights to Innovation Village housing (up to 2400 beds)

Project Development
- Construction has begun on the new FAU Recreation and Wellness Center and the Marleen & Harold Forkas Alumni Center. These structures will form the “gateway” to Innovation Village on the north side of the Boca Raton campus.
- The first phase of Innovation Village housing, a 600 bed apartment style structure, is currently in the design phase under the direction of a competitively procured architectural engineering firm.
- A competitive selection process for architectural and engineering services on the stadium recently closed, and a selection committee is now evaluating the submissions.
- A competitive selection process for a construction manager for the stadium is underway.

- Discussions have begun with the City of Boca Raton to address Innovation Village impacts in the University’s campus master plan.

Next steps for stadium…
- To meet goal of 2010 opening, funding plan must be finalized by >> Fall 2008 <<
- Should include “cash in hand” of at least $10,000,000 net present value
- To meet this goal, throughout the summer we will continue to pursue: Philanthropy, Development Rights ITN, Potential naming rights partner

- The timeline for completion of the various phases of Innovation Village remains 2009 ? 2014.

So they need $10m and we have, um, some of that.

Am I right in thinking that "Competitive Invitation to Negotiate process underway that will explore cost?effective transfer of development rights to Innovation Village housing (up to 2400 beds)" means they will lease the land out to a private apartment developer to build student housing here at FAU?

Abe Cohen, the incoming SG president, is also presenting some interesting ideas to the BOT. He wants to create a student history mural somewhere on campus and is suggesting an area by the Student Apartments. He discusses how the SG offices will "go green" by replacing light fixtures with better bulbs, etc. One of the more interesting ideas is to have OwlTV create an "Interview Series" with people in various fields that will highlight what a day-in-the-life of a particular profession would be like. Students interested in Marine Biology, for instance, could watch the tape to get tips on how to break into the field and learn that marine biology isn't all playing with dolphins.

It's a great start for his Presidency, I think.

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