Ithaca College is in the (ongoing) process of adding sports for women. Sculling was recently added to the varsity roster but administrators are looking ahead and discussing what sports will be added in future years as the college works comply with prong two.
Despite the inaccuracies in this article (there are actually three ways--not two--to comply with the opportunities part of Title IX), it was a good example of the process (or at least one version of the process) that schools go through as they make decisions about adding teams.
In the case of IC, they are looking at costs of teams, potential athletes already on campus (largely found in existing club sports), and the potential successes of future teams.