From the panel of ULI's “Attracting and Retaining Intellectual Capital”

The conclusion we have to draw from this mornings ULI panel, “Attracting and Retaining Intellectual Capital,” is that financial capital - new ways of raising it, holding on to it and partnering to leverage more - is top of mind with local universities in this new reality. Boston University’s President put things in perspective when he said it will take at least 10 but possibly as long as 20 years for most universities to climb out of the losses to their endowments. Looking into the future:

• Cancellation of new construction until institutions are able to get a handle on the long term impact of new facilities on operating budgets
• Experimentation with new partnerships with real estate developers to develop projects such as new dorms that colleges and universities lease back
• Realignment with community-based organizations for mutually beneficial projects
• An effort to find a “common language” with the City around pilot payments and a fair measurement of college and university input OR
• Find a solution to Boston’s arcane dependence on the property tax and develop a diverse revenue structure that directs revenue generated by the city back to the city
• College and university presidents playing an expanded role in urban civic leadership as corporate headquarters contract

---Lauren Louison is a Senior Vice President at Solomon McCown & Company. She can be reached by email at llouision@solomonmccown.com