At a meeting with Alachua County and Gainesville City officials Wednesday night, Shands Healthcare CEO Timothy Goldfarb outlined the future of the old Alachua General Hospital.

Goldfarb announced that the University of Florida will build a technology transfer and development center on the AGH property. He said an $8.2 million grant from the federal Economic Development Administration will serve as a downpayment on the project. There was no word on what the existing hospital building may be used for.

UF's Office of Technology Licensing assists university researchers take their projects from the laboratory to the market. Dozens of companies have been spun off from UF, creating products as wide-ranging as unmanned spyplanes to breathalyzers that monitor blood glucose levels for diabetics.

Shands-AGH is scheduled to close at the beginning of November, when Shands opens its new cancer hospital, across from Shands at UF.