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South Bend Redevelopment Commission <br />Regular Meeting -August l 5, 2008 <br />and training resources. Phase [will comprise <br />a facility of approximately 54,000 sq. ft. on <br />three levels. The reception area, <br />administration space and "Greenhouse" <br />incubator facility (approximately 6,000 sq. <br />ft.) will be on the first level. The second and <br />third levels will be designed as "build-to- <br />suit" tenant areas for general office space and <br />dry or wet lab configurations. 1'he remaining <br />three buildings (Phases II to IV) will provide <br />approximately 146,000 additional square feet <br />of space. They will be primarily used for <br />client/tenant space. 'l~he buildings and <br />equipment will be owned by the university <br />and leased to Innovation Park. <br />The mission of the park is to transform <br />research into marketable enterprises. "The <br />park will accomplish this by providing <br />convenient access to flexible space, <br />administrative services, and Internet <br />connectivity in combination with the active <br />engagement of expert technical support, <br />professional business advice and introduction <br />to private risk capital sources. At the same <br />time, the park will not actively provide the <br />means to advance basic research off campus, <br />or to seek to become along-term landlord. <br />Instead, the park will encourage an <br />accelerated exploration of potential <br />commercial applications, leading to the <br />eventual transplantation of these enterprises <br />into the park's extension at Innovation Park <br />nt Notre llame nt Sample Strcct (i.e. <br />Studebaker Corridor) and other areas. <br />The estimated cost for construction of the <br />four buildings in Phases I to IV is <br />$10,000,000 - $60,000.000. <br />The new equipment to be installed on the site <br />has a total estimated cost of no Icss than <br />9 <br />