CS Council Approves Incentives For New HospitalFeatured Stories, News Monday, November 19th, 2012
The first project of College Station’s new medical corridor has been approved by the city council.
A 72 bed specialty hospital marks the first time the council has approved a tax abatement zone since 2001.
The city will spend up to $300,000 dollars for a street extension and give up $197,000 dollars in property taxes over a ten year period.
In exchange, Strategic Behavioral Health (SBH) plans a capital investment of $10 million dollars.
150 full-time equivalent employees would be hired, generating an annual payroll of $7,696,000.
SBH plans to spend at least $1.5 million annually in local goods and services.
CScoun111912hospKM.mp3Councilman Karl Mooney made the motion to approve.
CScoun111912hospJF.mp3Councilman Jess Fields opposed the agreements.
The hospital, offering psychiatric, therapeutic, and substance abuse programs, will also reduce costs to law enforcement currently transporting inmates to Austin and Houston.
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