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VOL. 11 | NO. 4 | Saturday, January 27, 2018

Campbell Clinic Approved for 8-Year Retention PILOT

By Patrick Lantrip

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Campbell Clinic has been awarded an eight-year retention PILOT (payment-in-lieu-of-tax) from the Germantown Industrial Board to help pave the way for its expansion plans, which include a new $30 million, 120,000-square-foot facility.

The proposed upgrades to the orthopedic specialists’ Germantown facility will result in the retention of 280 job, while bringing on an additional 185 employees with an average wage of a little more than $67,000 over the next three years.

Though the maximum number of years the Germantown IDB can give on a retention PILOT is eight years, Campbell Clinic, which was represented at the meeting by Cushman & Wakefield/Commercial Advisors president and CEO Larry Jensen, originally sought an 11-year tax abatement, since they felt as though the project had both retention and expansion elements.

However, the Germantown IDB was weary of setting a precedent since this was only second retention PILOT the city has issued.

Although, IDB members did leave the door open for Campbell Clinic to return to the board to seek more incentives as more expansion plans come to fruition.

In November, Campbell Clinic first announced its plans a four-story medical office building on a vacant 5-acre parcel adjacent to the clinic’s current location at 1400 S. Germantown Road.

That new facility will include, among other things, outpatient orthopedic clinical space, expanded physical therapy and imaging suites, and an ambulatory surgery center with eight operating rooms.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 57 94 2,713
MORTGAGES 16 37 1,820
FORECLOSURE NOTICES 10 23 298
BUILDING PERMITS 303 621 6,322
BANKRUPTCIES 138 138 1,115
BUSINESS LICENSES 0 68 559
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0