As part of the agreement, HCA will fund the construction of the new health center. Once completed, the metropolitan government will repay HCA for the cost of construction with 3 percent interest, in addition to a $50,000 development fee, according to the report.
After completion, HCA will acquire the land now home to the city’s current health center, which is adjacent to its Centennial Medical Center. HCA will receive a 100-percent tax abatement on the new land for 5 years, and a 50-percent abatement for the following five years, according to the report.
HCA and the metropolitan government have been discussing a land-swap partnership for more than two years as a way to renovate the public health center, which is not compliant with the American Disabilities Act and contains asbestos, according to the report.
Read the Nashville Business Journal report on HCA.
Read more coverage on HCA:
– HCA’s Portsmouth Regional Willing to Settle Ownership Suit Out of Court
