One step closer to a hospital
Published 6:34 am Wednesday, March 10, 2021
By Dawn Burleigh
Orange City Council took several steps towards a medical center becoming reality for the area.
First, a public hearing to consider the approval of a tax abatement was held during the Tuesday meeting. The abatement agreement is with Orange Multi-Specialty Real Estate Holdings, LLC.
Councilmember Mary McKeena was the only person to speak during the hearing.
“Healthcare is close to my heart,” McKenna said. “It thrills my heart to see this project move forward.”
The latest renderings were shown during the council meeting.
Orange Multi-Specialty Real Estate Holdings, LLC. Partnered with NexCore approximately six months ago. The project was described as moving lightning fast and a gamechanger for Orange since the partnership.
The final reading for an ordinance designating the area as a Reinvestment Zone for commercial/industrial tax abatement was also read as the final step for the abatement.
The city also discussed entering a Tax Abatement Agreement with NexCore/ Orange Multi-Specialty Real Estate Holdings, LLC. for a 10 year period beginning in the year of substantial completion of the Medical Center/Complex at Interstate 10 and State Hwy. 62. The terms would be for:
Years 1 and 2, 100%;
Year 3, 90%;
Year 4, 80%;
Year 5, 70%;
Year 6, 60%;
Year 7, 50%;
Year 8, 40%;
Year 9, 30%; and
Year 10, 20%, all subject to the review and approval of the Tax Abatement Application and Economic Impact Statement.
“We will return with the final form of the Tax Abatement Application and Economic Impact Statement at later time,” Orange Economic Development Director Jay Trahan said. “This is just one step and we have to take it one step at a time.”