MOULTRIE, Ga. — What’s it worth to bring a medical college to your community?

For the City of Moultrie, that number is about a million dollars, depending on whether a hoped-for grant comes through.

Moultrie City Council approved incentives Tuesday for the Philadelphia College of Osteopathic Medicine, which is building a medical college on Tallokas Road.

The city agreed to pay $500,000 to PCOM, according to City Manager Pete Dillard. That sum was announced last year, along with $1 million from Colquitt County and $1.5 million from the Moultrie-Colquitt County Development Authority.

On top of that, the city will run water and sewer lines to the campus, Dillard said. That’s expected to cost $750,000, but the city is optimistic that it will get a grant from the Department of Community Affairs to cover $500,000 of that.

Those water and sewer lines will also serve residences or businesses that are expected to grow up around the college, Dillard said at an earlier city council meeting.

The city is also cutting the fees for permits and licensing, reducing their cost by a total of $50,000, Dillard said.

So, all together, the city is pledging $800,000 to $1.3 million, depending on the results of the DCA grant.

“We believe it’s worth it,” Dillard said.

The construction of the college itself is a multi-million-dollar undertaking, with some of the work being done by local firms. JCI Contractors of Moultrie is the construction manager for the project.

Once it’s opened, PCOM South Georgia is expected to have an annual economic impact of $90 million on the area, development officials said last year.

And the city will begin making up its investment quickly. The city bid for and won the right to provide electricity to the campus. Electricity sales are one of the city’s most profitable endeavors; almost half of the city’s general fund in the current budget is either transfers from the utility funds or leases.

The college is scheduled to open Aug. 12, 2019, with a class of 55 students seeking the Doctor of Osteopathy degree.