TO	City Commissioners
FROM	Lavern D. Squier, President and CEO
RE	Lawrence Regional Technology Center Proposal
DATE	8/26/04

Representatives from the Lawrence Chamber of Commerce along with representatives from Lawrence Regional Technology Center will be at the August 31^st commission meeting to review and discuss the status of the funding and oversight arrangements involving real estate acquisition.  This is in relation to funds held in trust by the Chamber for appropriate and secured investment in a facility for business incubation activities in our community. 

We think now is the appropriate time to act on this building acquisition issue.  LRTC’s stability and performance has risen to such a level to warrant making this investment in our community’s ability to nurture and grow technology employers for the future. 

The Chamber has structured a contractual agreement, between us and LRTC, and additionally an agreement which runs with the property and safeguards the integrity of the funds and the purpose for which they were intended.  This is in keeping with our fiduciary responsibility now and in the future.

We will jointly appear and brief you, as we have already done with your staffs, on this issue as well as answer any questions.

Thank you for your consideration of this matter.