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Neighborhood Docs

Project Number: 20170502
Project Type: Community Builder
Parcel ID: 05901900028 05901900027
County Commission District: 10 | City Council District: 04

Summary

Neighborhood Docs was awarded a 15-year Community Builder PILOT to support the development of a multi-specialty healthcare center through renovation and new construction. Neighborhood Docs was established by Joseph C. Greer, DDS (owner of 2829 and 2833 Lamar), William Terrell, Jr., MD, and Rodney S. Meyers in order to expand the work of the Good Health Institute which has been active in the area for 15 years.

Neighborhood Docs plans to provide state-of-the-art healthcare services to the surrounding inner-city neighborhood. The ultimate goal is to impact emergency room misuse by promoting proactive healthcare through access to primary care doctors for both medical and dental treatment. The plan is to expand and rebrand the existing Good Health Institute substantially into Neighborhood Docs, to provide a convenient "one stop shop" for healthcare services.

PILOT Term:

15

Projected New Jobs:

36

Projected Retained Jobs:

6

Total Jobs:

42

Projected Average Payroll of New Jobs:

$52,119

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$1,876,284

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$3,744,919
Real Property Investment:
$3,419,919

Personal Property Investment:
$250,000

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
$75,000

Projected Tax Revenue:

$2,937,858

Projected Taxes Abated:

$1,092,317
City: $477,967 (75%)
County: $614,350 (75%)

Benefit/Cost Ratio:

2.69

Projected MWBE/LOSB Spending:

$655,078

Incentive Provided:

$1,092,317

Compliance Information

Not applicable

Approved

5/17/2017

Ramp up Period

1

Closing

Not applicable

Effective

Not applicable

Lease Begins

Not applicable

Lease Expires

Not applicable

Amended

Not applicable

Property Details

Lease Began

Not applicable

Lease Expires

Not applicable

Neighborhood Docs

2829 Lamar, Memphis, TN 38114