The Economic Development Growth Engine (EDGE) Board of Directors approved a 15-year Community Builder Payment-In-Lieu-of-Tax (PILOT) project for Neighborhood Docs. Neighborhood Docs plans to provide state-of-the-art healthcare services to the surrounding neighborhoods of Cherokee, Bethel Grove, and Orange Mound. 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.
Established by Joseph C. Greer, DDS, William Terrell, Jr. MD and Rodney S. Meyers, Neighborhood Docs is looking to expand and rebrand the efforts of their existing Good Health Institute that has worked in the area for more than 15 years.
“Presently, we have a dental practice and nutrition center along with an endocrinologist that serve our patients,” said Neighborhood Docs representative, Joseph C. Greer, DDS. “We hope to anchor our expansion with OB/GYN, primary care, and radiology physicians. Our primary purpose is to bring good, quality healthcare to the inner city, and serve as the spark for future neighborhood redevelopment.”
Neighborhood Docs will maintain six existing Good Health Institute jobs, create 36 net new jobs with an average annual base salary of $52,119, and make a capital investment of $3,744,919. The total project investment includes $1,455,000 for the purchase of the property, $1,436,000 for new construction and site improvements, $528,919 to renovate existing space, $75,000 in existing personal property, and $250,000 for new personal property.
The EDGE Community Builder PILOT is designed to encourage redevelopment projects in distressed neighborhoods throughout Memphis and unincorporated Shelby County. Distressed neighborhoods are defined as being in Census Tract areas approved for the federal New Markets Tax Credits Program. The program provides the same incentives that EDGE typically provides to industrial projects, but targets non-profit and for-profit entities investing in urban revitalization.