08 Oct Regents approve University Research Park agreement
The UW Board of Regents today approved a memorandum of understanding between the Board of Regents and the University Research Park (URP) to strategically utilize UW–Madison’s real estate assets to advance its public academic and research missions.
The agreement allows the university to identify parcels of developable land under its control. With Regents approval, the university will sell identified parcels to URP for improvement, utilization, and general development to their highest and best use in support of UW–Madison’s mission and strategic framework.
Goals of the program include promotion of economic development and innovation, expansion of the university’s economic impact to the surrounding Madison community and the state, creation of more opportunities for local commerce, and strengthening the long-term fiscal health of UW–Madison, says Rob Cramer, interim vice chancellor for finance and administration.