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LINCOLN -- Developers offered the first, tentative price tags for developing the proposed Innovation Campus during a briefing to the University of Nebraska Board of Regents today.
The proposal is for a public-private research campus at State Fair Park. The Nebraska State Fair is being moved to Grand Island to make way for the facility.
Jay Noddle of Omaha's Noddle Development Co. estimated it would cost $19.4 million for demolition, grading and infrastructure costs for the first phase of development, a 37.5 acre tract that would be the heart of the new campus.
It would cost another $20 million or more to renovate the existing 4-H building to become a campus centerpiece, the "Innovation Commons."
Noddle said possible funding sources depend upon the governance structure final chosen for the facility. But possibilities include state and university funds, private donations and private investment, tax increment financing and various bonds and tax incentives.
The developers are to deliver their master plan proposals to the Legislature by Dec. 1. They will unveil that plan to the regents in November.
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