BUSINESS OFFICE PARK UPDATE
At its meeting on June 19th, the Moscow City Council unanimously
adopted a resolution establishing an Urban Renewal Agency. Subject to final
approval by the Council, the three-member Agency Board will have the
responsibility of determining an appropriate tax allocation district, which
will include the parcel of land which will be developed into a Business
Office Park. Once the district has been formed and a feasibility study has
been prepared, the Board will sell bonds to fund the infrastructure
(streets, water, sewer, sidewalks and common area landscaping) for the Park.
We're excited to have tax allocation financing available to help
with the development of the Park. Tax allocation financing is a tool which
can be utilized by local governments to temporarily target a portion of the
INCREASE in tax revenue that flows from new construction (buildings) in a
designated area. (The school district retains 60% of their portion of the
increase). For a short time, this revenue is used to pay off bonds sold to
finance the basic infrastructure for a given project. After the bonds are
paid, all of the resulting tax revenue increase flows into the general funds
of the local taxing districts (city, county, school district).
This short-term targeting of a portion of increased tax revenue
resulting from designated development allows a project to happen that
wouldn't have happened without the initial investment in the infrastructure.
The Business Office Park is an example of such a project. Because it will
take a few years for the park to fill with companies and buildings, the
private sector finds it difficult to develop this type of project without
forging some type of public-private partnership.
Without a place for our technology-based companies to relocate to
once they leave the Business Technology Incubator, we have been losing them
to other areas. As these companies develop and mature, they create
good-paying jobs, employ university students and graduates, bring NEW money
into the community to circulate among our existing businesses, and diversify
our economy to make it more recession-proof. Continuing to lose these
businesses means that all the local benefits they bring to our economy
(which includes increased property tax revenues) leave with them.
The EDC's Business Office Park Committee, chaired by Larry Hodge,
has been developing a plat plan for the park. Dave Kratzer of BAU
Architects assisted in preparing the conceptual design. The design has been
further modified and refined by a subcommittee consisting of Pay Pankopf
(University of Idaho Facilities Design), Gary Presol, (City of Moscow City
Engineer), Eugene Thompson (property owner) and Larry Hodge. The proposed
design includes amenities which will create a beautiful asset for our
community. A linear park is proposed to extend along the border adjacent to
Highway 8, and an interior park will provide a gathering spot. This small,
grassy amphitheatre-like area can be used for such things as noon concerts
in the summertime. Pedestrian movement among the buildings in the park will
be encouraged by a system of internal pathways, and an attempt has been made
to create larger landscaped open spaces by designing shared parking areas.
A rendering of the project as it might look when developed with buildings
and mature landscaping is available for viewing at the Business Technology
Incubator.
I recently attended the 1995 conference of the Association of
University Related Research Parks. Research/technology parks are a growing
industry, fueled by technology-based companies which are developing either
directly or indirectly as a result of university research and faculty,
student and staff innovation. Time and time again, the speakers at the
conference noted that a strong public-private partnership (among local
government, the university and local business) is needed to cultivate and
encourage new enterprises which spring from these pools of talent. This
partnership exists in Moscow and has already brought us the Business
Technology Incubator. We are now ready to embark on the next phase, the
Business Office Park, which will provide a high quality, attractive home for
incubator graduates and other local, expanding technology-based businesses
that benefit from close ties with the University of Idaho.
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Technology Parks...
are a growing industry. Parks that are linked to universities and coupled
with technology incubators follow a technology commercialization model that
has developed over the past few years, and which is now being deployed
worldwide. The Association of University Related Research Parks has 93
members located in the United States, and an international membership which
includes parks in Australia, Belgium, Canada, the Czech Republic, China,
Finland, Greece, India, Ireland, Italy, Japan, Malaysia, Mexico, the
Netherlands, Portugal, Russia, Singapore, South Africa, Spain, Sweden,
Switzerland, Taiwan, Thailand, and Wales, UK. Nearby parks include the
Idaho State University Research & Business Park in Pocatello, Sunset
Research Park in Corvallis, Riverfront Research Park in Eugene, Washington
State University Research & Technology Park in Pullman and Tri-Cities
Science and Technology Park in Richland.
At the AURRP conference, I had the opportunity to meet park managers
and park developers from all over the world. One gentleman from Malaysia
was particularly enthused about their project and made a concerted effort to
provide me with one of their brochures. They call their park, "Technology
Park Malaysia" and note that it is "...a major cornerstone in Malaysia's
march towards 2020". The brochure goes on to state, "Having already
succeeded in boosting the economy, with average growth rates of over 8% for
the years 1988 to 1994, the government is turning its attention to the
future - the creation of a strong indigenous technological base". "TPM has
been sited strategically close to the country's most important higher
learning institutions". "TPM's infrastructure, location, facilities,
services and backing from both the public and private sector combine to make
TPM an unparalleled investment opportunity".
Amenities in Technology Park Malaysia include a business incubator,
a multi-tenant facility for medium-sized firms, recreation (badminton court,
gym aerobics), retail and service support, a medical clinic, daycare, a
"resource center" (marketing and technology databases, management training,
access to seed and venture capital, technology transfer assistance and
access to specialized equipment). Incentives for R&D are also offered such
as: 1) R&D expenses can be claimed as deductions, 2) a research allowance
of 50% for 10 years may be granted, and 3) an initial industrial building
allowance of 10% can be obtained.
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GENERAL MEMBERSHIP LUNCHEON
Featured Speaker: Dave Doeringsfeld, Manager
Port of Lewiston
Dave will describe current shipping activities at the port (types of
products and volumes), provide an update on the salmon issue, and describe
special projects such as the development of a Foreign Trade Zone. He'll
also discuss how the Port of Lewiston benefits economic activities in Latah
County.
Please join us for this very informative meeting!
Noon, Thursday, July 13, 1995, Moscow Hotel, $7.50 per person
(Please call the EDC if you plan to attend, as we need to let the Moscow
Hotel know that there will be additional people attending - Thanks!)
Carole Helm, Executive Director chelm@moscow.com
Moscow-Latah County Economic Develpment Council (208)885-3801
Manager, North Central Idaho Business Technology Incubator