An amended developer’s agreement will enable private funding of water and wastewater improvements for a pair of medical buildings on Warm Springs Avenue near the Village of Fenney.
The revised Bethany Estates Enterprises agreement was approved Monday night by the Wildwood City Commission.
It adds Catalyst Healthcare Real Estate of Pensacola as an additional developer. The company is building a 13,724-square-foot medical office building and an 8,658-square-foot ambulatory surgery center for Ocala Eye.
Bethany of Leesburg will build a 22,300-square-foot medical office building on adjacent property.
The two developers will invest up to $2.4 million to bring water and wastewater services to their properties. In return, they will receive credits equal to the construction cost and will be reimbursed by the city from utility revenue.
Known as pioneering fee credits, they expire in 10 years.
The half-century-old Ocala Eye has performed more than 80,000 cataract surgeries. The health care provider has six offices and 218 employees.
Felix C. Agbo is registered agent for Bethany Estates Enterprises and president of the Bethany Plaza Condominium Association on Old Camp Road.
Founded in 2011, Catalyst specializes in health care and medical real estate projects. The firm has developed projects in Indiana, Montana, Delaware, Ohio and Florida.
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