The Florida Board of Governors approved a resolution on June 25, 2026 requesting the Division of Bond Finance to issue up to 25500000 in revenue bonds on behalf of Florida State University to help fund a new parking garage on the main campus. The project is a seven-level, 930-space parking structure that is part of phase one of a two-phase redevelopment of the northwest quadrant of campus and is already under construction, having started in April 2026 with expected completion by August 2027. Bond proceeds, together with an estimated 15000000 cash contribution from the University, will finance remaining construction costs, a potential debt service reserve fund, and issuance costs, secured by net revenues of the parking system.This is a sizable capital project within the university’s master plan and strategic plan, creating needs around design completion, construction services, parking equipment, access control, signage, technology systems, and future phase-two redevelopment work that may not yet be fully procured. Vendors can position offerings around garage systems, safety, and campus circulation as FSU advances this and subsequent phases funded through this financing structure.

Bonds will be secured by a first lien on net revenues of FSU’s parking system and issued on parity with existing parking system debt; project is part of an approved campus master plan and strategic plan.