In a significant step forward for Nebraska Innovation Campus, the NIC Development Corp. board of directors signed an agreement on Feb. 24 with Nebraska Nova Development LLC to carry out the first phase of development at Nebraska Innovation Campus.

Nebraska Nova’s managing partner is Woodbury Corp., a Utah-based development firm. Nebraska Nova initially will develop infrastructure at Innovation Campus such as roads and sewers to allow for construction of other facilities planned in Phase I, including a life sciences research center, a public-private office and laboratory building, a renovated 4-H building and a U.S. Department of Agriculture research facility. Renovation of the 4-H building into a central commons area likely will be the first building project.

Site work will begin later this year, with infrastructure development slated for completion in 2012.

Nebraska Nova was selected by the NICDC because of its willingness to put its own capital at risk and experience using tax increment financing and other financing options to avoid charging professional fees up front, Nebraska Innovation Campus Development Corp. vice president Tonn Ostergard said.

Read more about the selection of Nebraska Nova at http://go.unl.edu/sdq.