Plans in the Works From Innovation Park Restructuring Agreement

By  | 

By: Lanetra Bennett
August 13, 2014

Tallahassee, FL - Things are starting to pay off in the the Leon County Research and Development Authority's restructuring agreement with FAMU and FSU.

Several plans are in the works at Innovation Park. The executive director, Ron Miller, says an extended stay facility could be coming so visiting researchers have a place to stay while at the park.

He says they're also looking to build a wet lab incubator that would allow research being developed at both universities to be commercialized.

Miller says, "That big thing for the community is about jobs. We think that by creating these start-up companies, that in the long run, we'll be able to create lots of jobs."

The land agreement was finalized back in May. FSU and FAMU will each get about 17-acres of undeveloped land inside Innovation Park. The original press release is posted below.

News Release: Leon Co. Research and Development Authority

TALLAHASSEE, Fla. -- The Board of Governors of the Leon County Research & Development Authority received final approval of an agreement which is part of an overall restructuring plan for the operation of Innovation Park.

After a year of discussion and months of negotiations, a Memorandum of Understanding was signed by FSU President Eric Barron, FAMU Interim President Larry Robinson and LCRDA Board of Governors Chair, County Commissioner Kristin Dozier.

The agreement is an affirmation by the parties that they share a common mission to promote scientific research and development, foster economic development and broaden the economic base of Leon County. It gives both FSU and FAMU control over the land and buildings they now lease, use, or occupy from the LCRDA; allows the LCRDA to better focus on economic development; allows all three parties to develop additional parcels that meet their respective needs while continuing to contribute to the Park’s overall mission.

The agreement also creates a framework for the continued operation of Innovation Park and ensures that their commitment to providing a common campus will create an environment that fosters ideas and innovations which translate into commercial application.

FSU and FAMU will each receive approximately 17 acres of undeveloped land in Innovation Park. FSU will receive the Sliger and Shaw Buildings, while FAMU receives the Centennial Building. FSU will transfer to the LCRDA its leasehold interest in the Johnson Building. The LCRDA will retain approximately 19 acres of undeveloped land in and adjacent to the Park.

“This is the first time the three partners have agreed on a path forward for the Authority and the Park, which will benefit each of us, and will allow the Authority to be a key partner in the economic development future of Leon County” said Commissioner Kristin Dozier.

LCRDA Executive Director Ron Miller added, “We are very excited about the opportunity to move forward with the continued development of Innovation Park, and the role it can play in facilitating research and technology commercialization for both of our university partners.”

Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus