State University System of Florida Board of Governors Agenda Packet March 2026
FSU Seeks Approval for $109 Million Asset Transfer from City
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Description
The State University System of Florida Board of Governors is considering approval of a $109 million, 30-year Transfer of Assets Agreement authorizing Florida State University to acquire real and personal property from the City of Tallahassee related to Tallahassee Memorial Healthcare. The deal provides for annual payments and an amended long-term lease with Tallahassee Memorial Healthcare, Inc.
Contract Details
Contract Amount
$109 million (payable in annual installments of $3,633,333 over 30 years)
Vendor
CITY OF TALLAHASSEE
Agency
Florida BOG |Facilities Committee, FL
Contract Type
OTHER
Document Date
March 25, 2026
Contract Term
30 years (anticipated: 2026–2056)
Renewal Date
2056-03-26
Renewal Info
No automatic renewal; 30-year payment schedule. Any change in repayment source must comply with state law.
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