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The local authority is co-sponsoring the bid with Professor Stephen Heppell, chairman of Bournemouth University's new media environments.
BBC: Consultation on Portland's ?30m academy plan starts
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The skeleton, as human remains, has no monetary value and is currently at Bournemouth University but will be reunited with the other artefacts when they are sold.
BBC: Dorset's Iron Age Chesil Mirror to be sold
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Dr Philip Alford, director of the Digital Hub in the School of Tourism at Bournemouth University, told the BBC that the size of the brand made a big difference to the effectiveness of paid searches.
BBC: Google advertising value questioned by eBay
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Taylor, who is also former vice-president of the British Board of Film Classification and Chancellor of Bournemouth University, said it had been a common practice among peers to claim for fake journeys and enter expenses claims with a false address as a main residence, and he believed it was acceptable to do this provided there was a "family connection" with the property.
BBC: Lord Taylor guilty of making false expenses claims
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The Madeira Road development, which backs onto Wessex Way, will provide accommodation for 378 students at the Arts University Bournemouth.
BBC: Student halls mark start of Bournemouth redevelopment