Res 2008-115 - Laserfiche WebLink

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Expansion "). Elevations of, a site plan for and a rendering of the proposed Hospital Expansion are attached hereto as Exhibit "A" which is made a part of this Agreement for all purposes. The scope of the Hospital Expansion is also more fully detailed in Exhibit "B" which is made a part of this Agreement for all purposes. In connection with the Hospital Expansion, CTMC further proposes to add 50 -70 new jobs. The Hospital Expansion and the creation of said 50 -70 new jobs are collectively referred to as (the "Project'). CTMC has requested incentives from the City in support of the Project. Section 1.05. The City is authorized under Chapter 380 of the Texas Local Government Code ( "Chapter 380 ") to offer certain economic development incentives for public purposes, including the promotion of local economic development and the stimulation of business and commercial activity in the City. Under the authority of Chapter 380, the City enacted an Economic Development Incentives Policy (the "Policy ") adopted by the City Council by Resolution setting forth the nature and limits of economic development incentives available from the City. Section 1.06. Providing incentives in support of the Project under the Chapter 380 and the Policy will produce, among other benefits, the following benefits desired by the City: 1. new capital investment in healthcare facilities; 2. the creation of well - paying job opportunities for skilled, highly skilled and professional workers who reside in the City; 3. a diverse and adequate supply of healthcare facilities and services conveniently available to the residents of the City; 4. new opportunities for other retail and service businesses that serve the needs of health care related businesses, their employees and the clients they serve; and Page 2 of 12