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86-40 ADDING TERRITORY TO ENTERPRISE ZONE
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86-40 ADDING TERRITORY TO ENTERPRISE ZONE
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8/29/2016 9:49:13 AM
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8/29/2016 9:49:10 AM
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Resolution/Ordinance
Res Ord Num
86-40
Res Ord Title
ADDING TERRITORY TO ENTERPRISE ZONE
Approved Date
6/2/1986
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AMERICAN MEDICAL BUILDINGS <br /> May 28 , 1986 <br /> Mr. Robert Menzies <br /> Acting Director <br /> Community Development Department <br /> 1 Civic Center Plaza <br /> Decatur, IL 62523 <br /> Dear Mr. Menzies: <br /> American Medical Buildings has been retained to develop a 61 ,000 <br /> square foot medical office building to be located on the campus <br /> of St. Mary 's Hospital . We have encouraged the hospital to <br /> request that the west half of the hospital property, which <br /> includes the site of the new medical office building, be included <br /> in the Decatur Enterprise Zone. We believe that the exclusion of <br /> part of the hospital campus from the original Decatur Enterprise <br /> Zone was an oversight. <br /> The new medical office building will serve three primary needs . <br /> First, it will provide additional hospital based office space for <br /> physicians who are being sought as part of an extensive <br /> recruitment campaign by St. Mary ' s Hospital. Second, it will <br /> provide modern, efficient office space for physicians who already <br /> practice in the Decatur area. American Medical Buildings <br /> conducted a su rvey of physicians in the Decatur area and found a <br /> high degree of interest for a new medical office facility. <br /> Third, the building will house an 8 ,641 square foot ambulatory <br /> su rgery center. The ambulatory surgery center has already <br /> rece ived Certif icate of Need approval f rom the S tate of <br /> Illinois. It will provide an option for outpatient surgery which <br /> is not currently available in the community. <br /> Since the new facility will provide a medical benefit to the <br /> commu nity, its building site should be included in the Decatur <br /> Enterprise Zone. The property tax relief benefits derived from <br /> inclusion in the Enterprise Zone will allow the new building to <br /> compete with other medical office facilities in the Decatur area <br /> on an equal basis. In fact, projected breakeven rents for the <br /> new building, assuming inclusion in the Enterprise Zone, are <br /> higher than competitive rents. Therefore, Enterprise Zone <br /> inclusion is crucial to the economic viability of the project. <br /> ATLANTA DALLAS PHILADELPHIA SAN DIEGO MIL6NAUKEE 735 North Water Street,Milwaukee,Wisconsin 53202 Phone:�114/276-2277 <br />
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