Moffitt Cancer Center
Secured public financing for groundbreaking cancer research project
BLS served as financial advisor for a groundbreaking cooperative venture between the H. Lee Moffitt Cancer Center in Tampa and Merck to secure public financing to create over 300,000 square feet of life-sciences oriented development on a 25-acre site. Moffitt created a wholly owned subsidiary called M2Gen to implement the project, which began with the construction of a 50,000 sf facility that will house labs and related facilities focused on revolutionizing the way cancer is diagnosed and treated.
BLS conceptualized the incentives package for the project and managed the analysis, negotiations, structuring, approvals and documentation of the public financing. The public financing package, totaling more than $45 million, constituted more than one-fourth the total project capitalization.
Results:
- $28 million from Hillsborough County
- $15.5 million from the State of Florida
- $2 million in grant funding and land from the City of Tampa
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