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The Harrod Properties Industrial Shell Building project is on 21 acres on the western edge of Asturia, a 500-acre mixed-use project being developed by Houston-based Hines Development. This $26 million project includes building two roads and up to 200,000 square feet of Class A speculative space for office and industrial use.
Harrod Properties and the Office of Economic Growth have entered into a forgivable loan agreement (OEG17-025) for $7 million. This is a 10-year loan from the Penny for Pasco sales tax revenue which includes principle reduction terms for meeting the following goals:
Interest only payments are required annually based on the outstanding balance under a term of 10 years.
August, 2018 - Buildings are constructed as shown on right!
March, 2018 - Construction is underway! The roads and the first phase of the building is expected to be completed by the end of the year.
12/27/2017
Harrod Properties presented the signed and executed promissory note, second mortgage and intercreditor agreement to Pasco County's Office of Economic Growth for the disbursement of the $7 M loan from the Penny for Pasco funds.