Investing in the Health of Residents and a Community
In a recent blog post from the CDFI New Markets Tax Credit Alliance, David Flentge, President and CEO of Community Health Care (CHC), highlighted the role of New Markets Tax Credits (NMTCs) in financing the expansion of CHC’s health services in Tacoma, Washington. LIIF provided CHC with a $14.5 million allocation of NMTCs as part of a $27.5 million transaction for the construction of a new 59,000-square-foot regional health center. Expected to open in the fall of 2013, the Hilltop Regional Health Center will manage over 3,000 urgent care visits each year and provide medical services to 17,000 patients annually.
Noting the important role of NMTCs, Mr. Flenge stated that, “The NMTC program enabled CHC to build a clinic to meet the needs of the community. Without the economic assistance NMTCs provided, CHC would likely have had to build a smaller and less adequate facility with fewer programs.”Read the full blog post
- Learn more about the CHC Hilltop Regional Health Center
- Learn more about LIIF’s New Market Tax Credits
- Learn more about LIIF’s capital for Health Clinics
Source: CDFI New Markets Tax Credit Alliance