1.) Early-stage funding. This funding would be used for planning the construction and administration, hiring to supplement skillsets that we do not have internally (such as real estate transactions, in order to make competitive bids for real estate), as well as commissioning a feasibility study, an architectural survey of the targeted buildings, and a quote for the renovations. Funding in this round would be non-recourse. During this period, we would identify the buildings needed for a minimally operating university, develop competitive bids, and begin hiring our administrative staff. We are targeting between $500,000 and $5 million in funding for this round.

2.) Development-stage funding. This funding would be collected for the purpose of making a competitive bid for property and for funding renovations. The buildings we are targeting (former malls) are heavily debt-encumbered, and without other competitive offers. As such, we will not need to buy the property outright. Instead, we will offer to assume the standing debt attached to the property, with a reasonable repayment plan. We will achieve this by presenting a feasible path to debt repayment (on the 20-30 year timeframe) via raising the necessary funds to renovate the building and begin university operations. If sufficient funds for renovation are raised, we believe that we will be competitive for these buildings, meaning we can gain the real estate necessary for a university without the kind of capital-intensive investments needed in any other situation. Here we are taking advantage of the current market situation, with high vacancy rates and no path to recovery, to make an otherwise infeasible project achievable. In the alternative, we could propose a lease arrangement with a third-party, wherein the third-party would own the property and lease it to the university, meaning their investment is hedged by the real estate. For funding, we will be targeting VCs, real estate holders, and persons with a vested interest in the recovery of the City. We would be attempting to secure bond-funding from the California Educational Facilities Authority for long-term development, which can guarantee rates superior to the private market. Our projections have identified several buildings which, standing alone as the single real estate purchase, would be sufficient to run the minimal form of the university, meaning that our target investment is low. Funding in this round will not be expended unless targeted totals are reached and a deal for the building(s) are finalized. As such, risk is limited. We are targeting between $20 million and $100 million in initial renovation and development funding (to secure a line of credit for the entire renovation cost of approximately $200-300 million).

3.) Construction phase. Once the rights to the building are secured, and renovation is funded, we will begin construction. Construction is expected to take between 1 and 4 years, depending on the building. During this time period, we will be raising additional operating capital, and connecting with industry players. We will coordinate with the City government to secure City-level grants or tax benefits (as have already been contemplated), as well as City endorsement. At the same time, we hope to coordinate with the large technology players (Apple, Google, Meta, etc.) and the large VC / private equity firms to secure additional funding. In particular, we will aim to build employment pipelines and internship programs, ideally coordinated with the City to subject such co-op programs to competitive tax arrangements. We will also recruit faculty and administrative staff during this period, and apply for state and federal educational grants.

4.) Operation. We aim to begin our first year with approximately ~2,000 undergraduate students, and between ~300-500 graduate students. This first class will repeat each year for four years, bringing our total capacity to approximately ~10,000 students (8,000 undergraduate, 2,000 graduate students) by Year Four. As we roll out our student body, we will construct facilities accordingly. Eventually, in the longer term, our plan would be to double the student body to approximately 20,000 in 20-30 years.