A benefactor who purchased the former Lincoln College campus is offering nonprofit organizations and businesses the opportunity to lease space for $1 in an effort to bring new jobs and investment to Lincoln.
The program, operated through the LLC EZ 37:4-5, allows organizations to expand into campus buildings under lease agreements tied to job creation and economic development.
Nonprofits that meet agreed-upon job-growth targets could eventually receive their properties as donations. For-profit businesses also may lease space for $1, with an option to purchase over time at an expected price of $40 to $50 per square foot.
Lincoln Economic Advancement & Development, or LEAD, is supporting the initiative and has issued a Request for Interest covering five campus buildings. Additional buildings may be included in future requests.
Organizations can review the RFI, building blueprints and program details at leadlincoln.com. A walkthrough of the available buildings is scheduled for 1 p.m. Sept. 29 at the former campus, 300 Keokuk, Lincoln. Participants should meet in front of University Hall.
LEAD CEO Uriah Kilgallin called the opportunity unusual and said the organization hopes to connect interested groups with the resources and support needed to establish roots in Lincoln.
