The Iowa Board of Regents gave Iowa State University the go-ahead Wednesday to move forward with its CyTown plans, approving a 30-year development agreement and lease agreement. ISU General Counsel and Chief Risk Officer Michael Norton told board members the agreements were “fundamental” to seeing the project progress.

The 30-year agreement allows Iowa State University, ISU Research Park and Goldenrod Companies to move forward with the $200 million entertainment development.

The Board of Regents on Wednesday approved a 30-year development agreement between Iowa State University, Goldenrod Companies and the Iowa State Research Park to operate and construct eight buildings as anchors of the still-in-progress CYTown development.

The agreement was approved by the Iowa Board of Regents on Wednesday, Jan. 15. The overall scope of the CYTown project will be spearheaded by a "CYTown Management Committee," which includes various Iowa State administrators and Board of Regents members.