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Transfer of EDA Grant to Innovate ABQ, Inc. Imminent

Paperwork filed in March with the U. S. Economic Development Administration (EDA) by STC to transfer a $1.5 million grant that was a part of the $6.6 million purchase price for the land at Central and Broadway that will become the core site for Innovate ABQ is close to approval by the EDA.  The approval will allow the legal and corporate entity of the development project, Innovate ABQ, Inc., to become the substitute recipient of the grant, a necessary step before development activity begins at the site.  STC, UNM’s tech transfer and economic development organization and the University’s representative for the Innovate ABQ initiative, applied for and was awarded the EDA grant during the fall of 2013.  See Dan Mayfield’s August 19, 2015 article, “Steps to transfer Innovate ABQ site almost complete,” at  http://www.bizjournals.com/albuquerque/blog/bizventures/2015/08/steps-to-transfer-innovate-abq-sitealmost-complete.html?ana=e_du_pub&s=article_du&ed=2015-08-19&u=i0GEuubMboiI4I0YV5aEygsAevC&t=1440020772.