Economic Development Agreement – Extension of Normand Drive College Station City Council Regular Session October 25, 2012
Economic Development Agreement – Extension of Normand Drive
College Station City CouncilRegular Session
October 25, 2012
Owner: Texas Hotel Management, L.P. Zoned: Planned Development District
(01/12/12)Uses include hospital, medical clinics, and commercial
1401 Arnold Road – 17.07 acres
City has been working to locate since Spring 2012 Fills a need of the community and region
Preferred site within College Station Medical District
$10M Real and Personal Property Investment 200 FTEs (Physicians, Nurses, Techs, Office Staff)
$7.6M+ Gross Annual Payroll
Future Agenda Items on November 8th and 19th
Specialized Health Hospital
Texas Hotel Management, LP Design and Construct Offsite Improvements Sale of approximately 6 acres to prospect
City of College Station Pay up to $300,000 of Offsite Improvements◦ $165,000 bond funding for oversize participation◦ $135,000 from The Med for Normand Drive extension
Economic Development Agreement
Staff recommends that Council approve the proposed Economic Development Agreement.
Recommendation