David Engel Good morning, David Engel, Planning and Economic Development Director. It's my pleasure today to present a addendum item AR 117. This is a economic incentive request made by Moffitt Cancer and Research Center for the Spiro campus. The um the Moffitt organization is requesting. Investing a uh twenty one million dollar penny for Pasco commitment from the county to help fund a two hundred and twenty eight million dollar capital project. The the campus is located at the uh southeasterly corner of uh the Sun Coast and Ridge Road extension. And uh the pri the project is uh seeking twenty-one million dollars. Uh this uh twenty-one million dollars will be utilized as a local match support to a US EDA community development block grant, DR grant that will uh fund uh assist in funding a uh a five project scope uh consisting Of the two hundred and twenty-eight million dollars I just mentioned. The capital stack on the project is as follows.
Mike Carballa Yeah, I just want to be clear on what that is. Is it any business that comes in, you're free to have an economic type incentive deal or an arrangement based on based on the industry or business. You've always had that. And whatever those fees or whatever those monies are can go to pay down, for example, this impact fee would be an example of what that would be. So you you're not actually waiving the impact fee so much as either funding it from a different source of funds is but you have that flexibility in in how you negotiate deals all the time when it comes to economic incentives.