Hilltop Regional Health Center
Community Health Care (CHC) is a private, nonprofit Federally Qualified Health Center based in Tacoma, Washington. LIIF provided CHC with a $14 million allocation of New Markets Tax Credits (NMTC) as part of a $27.5 million transaction for the construction of a new 59,000-square-foot regional health center. In addition to the NMTC allocation, LIIF and The Reinvestment Fund (TRF) provided a $4.3 million bridge loan to CHC through their Community Health Center Financing Initiative with the Kresge Foundation to be used as part of a leverage loan for the transaction. The completed Tacoma Hilltop Regional Health Center will offer primary and urgent care, specialty medical care for woman and children, a dental clinic, and a residency program. The new center will have a significant impact on the local community by generating 130 permanent full-time medical and administrative jobs. In addition, the project will help rejuvenate economic activity in the local community, providing stimulus for a variety of service and retail businesses in the Hilltop neighborhood. Opened in late 2013, the Hilltop Regional Health Center manages over 3,000 urgent care visits each year and provides medical services to 17,000 patients annually.
Project Details
- Impact
- 17,000 clients served annually
59,000 square feet of new space for health services
130 jobs created
Specialty medical services including primary and preventative care for women and children - Financing
- $14 million New Markets Tax Credit allocation
$4.3 million bridge loan with The Reinvestment Fund and Kresge Foundation - Partners
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- Community Health Care
- Kresge Foundation
- National Development Council
- The Reinvestment Fund
- U.S. Bancorp Community Development Corporation
More Information
Community Capital for Health Clinics
New Markets Tax Credits
