Scott, cabinet approve land swap for FSU business school

Scott, cabinet approve land swap for FSU business school

"Gov. Rick Scott and the Florida Cabinet on Wednesday approved a land swap needed by Florida State University to expand its College of Business.
New FSU President John Thrasher, who until this week was a member of the state Senate, said the planned facility is intended to improve the employment prospects for graduates.
Currently, the school estimates 50 percent of new graduates from the College of Business are able to quickly land jobs paying about $42,000 a year, Thrasher said.
About 75 percent of new graduates gain such employment within six months, he said.
"With the new facility, we believe it will be better," said Thrasher, who graduated 49 years ago from the school's College of Business.
The land swap involves FSU receiving a 5.34 acre parcel from the Tallahassee Community Redevelopment Agency. The land is located near the Donald L. Tucker Civic Center, where FSU plays its home basketball games.
The school plans to use the land for a new $65 million to $75 million facility called Legacy Hall, which will house the College of Business and School of Hospitality.
Thrasher said with a $1 billion capital campaign underway at FSU, the intent is to have private donations pay for most of the construction. In exchange for the land, FSU is expected to pay the city agency $960,000 and give three parcels totaling 5.74 acres.
The city agency plans to redevelop those parcels into mixed-used developments, according to state records."