Tuesday, June 17, 2014

Guardian: Boise State Wants Gardner Company to Be Its Landlord

Posted By on Tue, Jun 17, 2014 at 9:58 AM

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You can add one more packet of interesting documents to the Gardner Company's grand plans for the City Centre Plaza.


Boise Weekly readers already know that the volume of contracts surrounding Boise's newest high-profile development is as tall as the hole will be deep when Gardner begins digging a new subterranean transit center, simultaneously building a five-story convention facility to be operated by the Greater Boise Auditorium District and a nine-story office building that will become the new headquarters of Clearwater Analytics.


Additionally, the City of Boise has agreed to defer more than $500,000 in fees for building permits and development impacts (police and fire).


And now the Boise Guardian is reporting that the Idaho State Board of Education is about to take up a proposal that would allow Boise State University to move some of its Computer Science Department, including faculty, staff and instructional areas, to the new City Centre Plaza. According to the documents, the new Boise State build-out could cost at least $15 million.


The State Board of Ed will be asked to consider a 20-year lease between Gardner and Boise State.


"This particular location would serve to create collaborative partnerships with leading industries, allow local businesses and industry greater access to our programs, and provide our students with the opportunity to interact with local partners by working on projects of mutual interest," the documents read.


The agreement would see Gardner lease 53,549 square feet to Boise State in a one-year lease with 19 one-year renewal options.


For now, Boise State is asking the State Board to approve the lease deal and "over the next two years, the University will work closely with the developer and their lender as the project and financing progresses, monitor how the financing structure will impact purchase option pricing, and monitor market conditions and University priorities," according to the documents.


The State Board is asking Boise State officials to be prepared to discuss its plans for the use of space vacated on its main campus when, and if, the Computer Sciences Department is moved over to the new City Centre Plaza.



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