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  Agenda Item 9.       
Meeting Date: 10/17/2017  
Item Title:    Request for Development Assistance from NEP Garland MOB, LP
Submitted By: David Gwin
Council Goal: Sustainable Quality Development and Redevelopment

ISSUE
Consider a development incentive request from NEP Garland MOB, LP for a partial rebate of applicable development fees required of a proposed new medical office project.
OPTIONS
1. Approve the staff recommendation for a partial rebate of applicable development fees.
2. Not approve a rebate of applicable development fees.
RECOMMENDATION
Upon 1) construction of a minimum of 90,000 gross square feet of medical office space and 2) realization and maintenance of new nonexempt taxable valuation of at least $19,925,000 approve a rebate of 40% of the applicable development fees paid by the developer to the City as required by the proposed medical project in an amount not to exceed $225,000.
BACKGROUND
New Era Partners was formed in 2000 with a vision to develop surgery centers that are co-owned by physicians and a professional management team.  New Era Medical is one of five (5) divisions in its parent organization and has a well-developed track record of over 25 healthcare developments in Texas and California.

The site for this new medical office facility is a part of the City's larger vision to realize a more vibrant and sustainable approach to the development of the PGBT Corridor by becoming a center for major employers involved in technology, healthcare and support services. 
CONSIDERATION
1. Quality medical office project
2. The developer will add a minimum of $19,925,000 in Real Estate (RE) valuation to the City's tax rolls
3. The developer will maintain and create skilled medical-related jobs
4. Meets the City's vision for the long-term development of this area
Attachments
Proposed Economic Development Incentive Agreement


    

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