Complete 2012 forensic audit documents - Kansas Bioscience ...

• providing office space for KBA staff that will allow them to promote all programs and
initiatives of KBA;
• providing space for KBA meetings and events; and
• providing exhibit space to showcase success stories of KBA.
ACTUAL
Existing or planned facilities as of January 2011 were between 35,480 and 74,641 net sf, as
stated above. Our investigation found that as of the end of fieldwork, the actual available
incubator space is over 80,000 net sf.
Incubator Estimated Actual
KUMC Breidenthal 15,000 15,500
KC Biotechnology Center 4,500 4,500
UMKC unknown unknown
Independence REC 7,900 13,000
LDCBA-BTBC 8,061 8,361
LDCBA BTBC Expansion Facility 17,500 17,500
"Kit" Bond Science & Technology Incubator 9,100 15,000
KBA 12,580 12,432
Total 74,641 81,193
In summary, it appears that some due diligence was performed relating to the market demand for
incubator space prior to the decision to proceed with construction. The projections, however,
appear to have underestimated the supply of incubator space in the current market.
Project Budget
A $12 million preliminary budget for a 25,000 sf building program was brought before the BOD
in October 2008. The 25,000 sf size was the minimum set forth in the Development Agreement.
Based on the market demand studies previously discussed, KBA management and the BOD
decided that a larger building was necessary. In December 2008, the BOD was approached
again with revised costs given the increased size of the building. The actual size of the building
is 38,773 sf.
The total cost to construct the Venture Accelerator was $14,934,654. The BOD approved
$10,631,200 for the general contract for construction of the building, and $4,303,454 for
ancillary contracts, which include architectural fees, office furniture and fixtures, audio/visual
equipment, lab equipment, etc. See the Incubator Financing section below for details of the
project funding.
Selection of Architects
KEGA required that KBA work through the State Building Advisory Committee (“SBAC”) for
the selection of incubator architects, providing a list of architects from which KBA could choose.
The SBAC list of architects determined to be proficient in lab design included the following:
• PGAV Architects
• Gould Evans
• HMN Architects, Inc.
• Treanor Architects/The Clark Emerson Partners
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