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Economic Development Group to Pick Up Costs of Scripps Lab

Posted on: Friday, 12 August 2005, 00:00 CDT

Aug. 10--An economic development group expecting a $51 million windfall from a land development deal tied to Scripps Florida has agreed to pay most of Palm Beach County's costs of building a temporary Scripps lab.

The Economic Development Research Institute would pay $2 million in interest costs for the 35,000-square-foot building at Florida Atlantic University's Jupiter campus, said County Administrator Bob Weisman, who sits on the group's board.

That would trim Palm Beach County's bill to $1 million.

County commissioners agreed to pay $15 million to build the lab, with FAU paying back $12 million over five years beginning in 2009. FAU gets the building once Scripps moves to its permanent headquarters at Mecca Farms.

EDRI's contribution is contingent on Tech Village Partners closing on a deal to buy the 4,700-acre Vavrus Ranch, which would trigger the $51 million payout. Vavrus Ranch is the planned site for as many as 9,000 homes.

Also today, FAU's board of governors was expected to consider giving final approval for the second temporary lab, spokeswoman Kristine McGrath said. That could pave the way for construction, which could be finished by August 2006.

Scripps, currently housed in a 41,000-square-foot lab at the Jupiter campus, needs the extra space so it can hire more scientists.

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Source: South Florida Sun-Sentinel

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