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Regular Council Meeting June 8, 2015 Page 12 A Motion to recuse Mayor Hashmi was made by Council Member Pickle and seconded by Council Member Plata. Motion carried, 7 ayes — 0 nays. Mayor Pro -Tem Lancaster called for discussion on the item. City Attorney Kent McIlyar explained that on December 8, 2014, the City Council created Reinvestment Zone No. 2014 -1 on 40 acres of land near the intersection of SE Loop 286 and FM 905 for the proposed Paris Lakes Medical Center Project. Mr. McIlyar said Paris Lake Medical Center, LLC was requesting a ten year tax abatement on 100% of the improvements to be constructed on the 40 acre parcel and in order to receive the tax abatement, PLMC must invest a minimum of $108,000,000.00 in the project and complete construction of the following improvements no later than June 1, 2018: A) An acute care hospital with at least 64 beds and a minimum of 170,000 square feet of finished hospital space; B) Medical Office Building No. 1 ( "MOB 1 ") with a minimum 60,000 square feet of finished space to include: an ambulatory surgical center, radiology, physical therapy and pathology capabilities and physician offices with related fixtures, equipment, furniture and landscaping, parking and ingress and egress roads; C) Medical Office Building No. 2 ( "MOB 2 ") with a minimum 60,000 square feet of finished space, which will include: an oncology center and physician offices with related fixtures, equipment, furniture and landscaping, parking and ingress and egress roads; D) Medical Office Building No. 3 ( "MOB 3") with a minimum 60,000 square feet of finished space, which will include: a long -term acute care skilled nursing facility and physician offices with related fixtures, equipment, furniture and landscaping, parking and ingress and egress roads; and E) Medical Office Building No. 4 ( "MOB 4 ") with a minimum of 16,000 square feet of finished space, which will include: an urgent care center, physician offices, a leasing office and related fixtures, equipment, furniture and landscaping, parking and ingress and egress roads. Mr. McIlyar further explained if PLMC failed to complete all improvements by June 1, 2018, the tax abatement would automatically drop down to a seven -year tax abatement with standard scale percentage. Mr. Parker answered questions from the City Council. Council Member Pickle inquired of Mr. Godwin who was going to monitor the tax abatement agreement and Mr. Godwin said city staff would do so if instructed by City Council and staff would have to right now, because there was no one at PEDC. Mr. Parker said full reports would be sent every year to the Lamar County Tax Appraisal District and he would provide whatever the City and County needed. Mr. Parker said PJC was not included in the agreement, because they had requested to be excluded as they were struggling with finances at the time. Council Member Frierson wanted to know if the County was on board with this and Mr. Godwin answered in the affirmative. Mayor Pro -Tem Lancaster said she thought the State was addressing specific issues to help with PJC's tax base and she did not want to lose PJC. She said she wanted to see the project grow and prosper and asked when the project would begin. Mr. Parker said they would start as soon as they had finished with the permit processing and estimated that to be in about three or four weeks. A Motion to approve the tax abatement agreement as presented was made by Council Member Frierson and seconded by Council Member Pickle. Motion carried, 5 ayes — 0 nays.