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Public Hearing: Consideration of an Ordinance of the City Council of the City of Lewisville, Texas, Authorizing the City of Lewisville to Participate in the Texas Enterprise Zone Program Pursuant to the Texas Enterprise Zone Act, Chapter 2303, Texas Government Code (“Act”), Identifying Available Tax Incentives, Designating a Liaison for Communication with Interested Parties, Nominating Columbia Medical Center of Lewisville Subsidiary, L.P. to the Office of the Governor, Economic Development and Tourism Through the Economic Development Bank (“Bank”) as an Enterprise Project (“Project”); Providing an Effective Date; and Declaring an Emergency.
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ADMINISTRATIVE COMMENTS:
Columbia Medical Center of Lewisville Subsidiary, L.P. (“MCL”) has submitted a request to staff asking that the City Council consider an ordinance that (1) authorizes the City to participate in a Texas Enterprise Zone Program pursuant to the Texas Enterprise Zone Act, Chapter 2303, Texas Government Code (“Act”); (2) and nominates MCL for designation by the Governor's Office of Economic Development and Tourism as a Texas enterprise project. MCL is located at 500 W. Main Street and plans to renovate and expand its Women’s Services and Neonatal Intensive Care Unit due to robust growth and an increase in average occupancy. MCL plans to make a capital investment of $15,977,000, maintain 865 jobs (including 329 that meet the “retained job” requirements under the Act), and create 10 jobs new jobs, making them a competitive candidate for the Texas Enterprise Zone Program. The Act requires that a public hearing be held before adopting an ordinance or order for identification of local incentives. For this state program, there is no fiscal impact to the City of Lewisville if MCL is awarded the designation.
RECOMMENDATION:
That the City Council approve the ordinance as set forth in the caption above.
AVAILABLE FOR QUESTIONS:
Marichelle Samples, Director of Economic Development