Orlando Rolls Out $75M Deal For Downtown Campus
The City of Orlando is offering the University of Central Florida a $75 million deal to build a downtown campus.
The agreement outlines a commitment that includes some 15 acres of land, the Center for Emerging Media, various infrastructure improvements, and parking concessions. It also includes a commitment from the city’s development partner.
The deal hinges on approval from the Board of Governors that oversees state universities, and $20 million in state funding.
UCF wants to pay for the project through donors, the state, and its own piggy bank.
Gov. Rick Scott vetoed state funding last year.
If everything lines up, the downtown campus would go up in the Parramore neighborhood at Livingston Street.
The deal goes before the Orlando City Council on Monday.