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.
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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