Memorandum

City of Lawrence

City Manager’s Office

TO:	David L. Corliss, City Manager
FROM:	Diane Stoddard, Assistant City Manager Britt Crum-Cano, Economic Development Coordinator
CC:	Cynthia Wagner, Assistant City Manager
Date:	June 14, 2012
RE:	Authorization to Reimburse Expenses from Bond Proceeds to the Bioscience and Technology Business Center (BTBC) for Expenses related to the BTBC Expansion Facility (the City/County-owned lab building at Bob Billings Parkway and Wakarusa)

Please place this item on the consent agenda for the June 19, 2012 meeting:

Authorize reimbursement of $76,938.67 in Expenses from Bond Proceeds to the Bioscience and Technology Business Center (BTBC) for Expenses related to the BTBC Expansion Facility (the City/County-owned lab building at Bob Billings Parkway and Wakarusa).

Background:

In early 2010, the City and Douglas County purchased a lab building near the intersection of Bob Billings Parkway and Wakarusa to be utilized by the BTBC as additional incubator space.  In the original bond issuance to purchase the building, funds were included to make various improvements to the building.  In accordance with the lease agreement with the BTBC, expenses from the original bond issuance must be authorized by the Management Committee, consisting of the City Manager and the County Administrator. 

Discussion:

The BTBC submitted an invoice in the amount of $76,938.67 in various expenses.  The expenses related to HVAC improvements, building improvements and other fixed assets that would be considered part of the building.  The Management Committee has reviewed the expenses and approved them. 

Requested Action:

Authorize reimbursement of $76,938.67 in Expenses from Bond Proceeds to the Bioscience and Technology Business Center (BTBC) for Expenses related to the BTBC Expansion Facility (the City/County-owned lab building at Bob Billings Parkway and Wakarusa).