FACILITIESAPPROVED

Auburn University Board of Trustees Agenda Packet 2026-06-05

Auburn to Lease-Back New Stormwater Research Facility

Up to $1,500,000 in University funds to design, construct, and equip the New Facility; ground lease rent anticipated nominalAuburn University At MontgomeryAUBURN INDUSTRIAL DEVELOPMENT BOARDJune 5, 2026

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Description

Auburn University plans to partner with the Auburn Industrial Development Board through a ground lease and 20-year project agreement to build a 5,000-square-foot Stormwater Research Facility at the NCAT Test Track. The University will invest up to $1.5 million in the project, funded by the Samuel Ginn College of Engineering, and will assume ownership after the lease term.

Contract Details

Contract Amount

Up to $1,500,000 in University funds to design, construct, and equip the New Facility; ground lease rent anticipated nominal

Vendor

AUBURN INDUSTRIAL DEVELOPMENT BOARD

Agency

Auburn University At Montgomery, AL

Contract Type

FACILITIES

Document Date

June 5, 2026

Contract Term

Project Agreement term 20 years; Ground Lease term up to 20 years

Renewal Info

Project Agreement sets a 20-year lease-back term after which ownership transfers to the University; any extension of the lease would require new Board action.

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