Civil Engineering Reference
In-Depth Information
Fig. 8 Indicative management structure for Surrey Research Park based on a joint venture
structure
Table 3 Details of responsibilities for costs, management control and involvement in tenant
selection for single and joint venture ownership arrangements
Development
strategy
Financial cost to university
Strength and nature of
control over science park
policy
Involvement in
tenant selection
Single
ownership—
university
alone
High—needs funds for
infrastructure, initial
buildings and needs to
guarantee any loan finance
High—university has
complete control over
management policy
High—sole
arbiter
Joint venture
(JV)
company
Medium—shares costs with
partners in JV arrangement
Potentially high—
negotiable between
partners but potentially
strong where University
takes a lead
Usually high—
significant
or leading
influence
The Management Team and its Board operated under delegated powers from
the University's Finance Committee and was able to decide on investments in the
Park and to authorise taking loans for development.
The Development Team that eventually changed into the Management Team
for the site was established as an Enterprise Group of the University rather than as
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