R491, University Research Parks

R491, University Research Parks

R491-1. Purpose

To provide for annual reports from the President of the University of Utah relating to the Research Park and for the development of the Research and Technology Park at Utah State University. R491-2. References

2.1.

Title 53B, Chapter 17

2.2. Utah Code §53B-18-501 (Utah State University: Nonprofit Corporations or Foundations)

2.3. Utah Code §53B-2-104 (Institutional Board of Trustees)

2.4. Utah Code §53B-2-106 (Duties and Authority of the President)

R491-3. University of Utah Research Park Annual Reports

3.1. Annual Report

the President of the University of Utah may report at any time at his or her discretion.

R491-4. Utah State University Research and Technology Park Development

4.1. Establish, Develop and Operate Park

4.2. Within Campus Boundaries - The said Research Park consists in its inception of that certain tract of land within the confines of the University campus, consisting of approximately 30 acres, more particularly described in documents on file in the Office of the Commissioner; and that the development and operation of the Research Park proceed upon the covenants, conditions and restrictions set forth in documents on file in the Office of the Commissioner; and

4.3. Delegation to President - The State Board of Regents hereby authorizes and approves the establishment of said Research Park as described in these sections, to be developed and operated by the Utah State University, and that pursuant to Utah Code §53B-2-104 and §53B-2-106, the Board of Regents hereby delegates to the President with the approval of the institutional Board of Trustees of Utah State University, and authorizes the use and exercise of all the powers, duties, responsibilities and functions which may be necessary or desirable for the establishment, development, operation and administration of the said Research Park; and

4.4. Terms and Conditions - The authorization, approval and delegation contained in sections 4.1, 4.2 and 4.3 are subject to the following terms and conditions:

4.4.1. Reports regarding the status of the Research Park shall be submitted annually by the Utah State University to the Board of Regents.

4.4.2. The Review Board described in the covenants, conditions and restrictions governing the Research Park set forth in documents on file in the Office of the Commissioner shall include at least one member who is not an employee of Utah State University.

4.4.3. Any hotel or other overnight accommodations proposed to be constructed within the Research Park shall first be approved by the Board of Regents.

4.4.4. The President and institutional Board of Trustees of Utah State University shall exercise active review and discretion regarding the length of leases, including renewal options, granted to tenants of the Research Park.