University of La Verne, CA struck a land-swapping deal with The City Council of Ontario to make a business school in Ontario, CA. The council woman Debra Dorst had an interesting comment about the news.

“If we can get more bodies downtown, we can attract more retail business in the downtown, especially when it comes to restaurants, eateries, coffee shops and bakeries,” said Councilwoman Debra Dorst-Porada. Often, marketers say new businesses want to see a greater number of people within a 5-mile radius of downtown before they’ll open a new store or shop, she said.

Councilwoman Debra Dorst-Porada

$1 a year, 13,000-square-foot parcel at 214 E. Holt Boulevard

It is basically an exchange or swap of properties between the City Council of Ontario and the university, hence the near-zero lease amount of $1.

Randall Lewis Center for Entrepreneurship, Innovation, and Social Impact. The university is set to open the Randall Lewis Center for Entrepreneurship as it obtained a gist of $2 Million from real estate executive and philanthropist Randall Lewis, we reported.

Randall Lewis Center for Entrepreneurship

Startempire Wire reported earlier this week that La Verne University is one among the four top universities of the Inland Empire region innovating and spending millions to set-up their entrepreneurship programs. Other universities that are pouring in millions of dollars to kick start their entrepreneurship programs include:

• UC Riverside
• California State University, San Bernardino (CSUSB)
• California State Polytechnic University, Pomona, or Cal Poly Pomona 

$5 Million Economic Development Grant

The university is seeking investors to help build the new campuses in Ontario. As a start, it might seek a $5M economic development grant from the state along with tapping other investors.

It has yet to be announced as to what the new buildings would cost.

The exchange can be termed as a parking lot for prime Holt Blvd. land and which will help the university to offer classes at the Ontario annex campus.