08-25-08 Council Meeting Agenda & Packet

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would likewise be approximately commensurate with that involved in Phase I. Investments by IP @ND and its tenants in new research and development equipment and new information technology equipment in Phases II through IV is currently expected to be in approximately the same range as is expected for Phase I. Depending on future events, Phases II through IV may or may not be developed in accordance with the current plan, and such development may or may not occur in accordance with the anticipated schedule described in IP @ND's plan and herein. Under the current plan, it is anticipated that Phase I will reach a self - sustaining level of performance by the end of year five (5) of operations. This is predicated on the identified funding sources materializing with essentially full occupancy of the first building. Lease rates and anticipated expenses have been derived on prevailing and projected rates at other parks (e.g., Indiana University, Missouri, Purdue and Kalamazoo) and best available data for comparable facilities in or near South Bend. Staffing is anticipated to remain stable until a second facility is needed. The first building is anticipated to be approximately 54,000 square feet because a building of this size provides the capacity to include a wide range of tenant sizes and types in our initial facilities, as benchmarked with the parks at other universities and locations. Different scenarios and arrangements are easily adopted as various funding opportunities materialize. Summary of the Project and Overall Nature of the Operations The Master Plan anticipates three additional buildings to be phased in between 2010 and 2018 as demand increases. The future phases are expected to 'include a free - standing addition to the first building (Phase II) followed by two additional separate buildings (Phases III and IV) on the main site. A further facility may also be added on the additional two -acre site on the east side of Twyckenham Drive. The first building (Phase I) will be the main gathering area for the entire park, and provide most of the essential common areas, conference facilities and training resources. The Innovation Park at Notre Dame will encourage the initiation and growth of world -class research activity on the campus, and in collaboration with other universities and colleges. The IP @ND will act as a base for the technology platform development in addressing basic human needs, such as water, nutrition, clean air, health, shelter, education, communications, transportation, energy and the environment. In doing so, the IP @ND will foster Page 22 of 23