Capital Fund Provides NMTC Allocation to Lifespan Health Project in Savannah, TN
On January 12, 2021, Capital Fund participated in a financial closing to provide Lifespan Health with a $7.3 million NMTC allocation for the construction of a new $7.7 million health center in Savannah, TN. In addition to Capital Fund’s NMTC allocation, the project was also funded by $4.2 million in long-term debt from SunTrust now Truist.
The new 19,500-square-foot facility will allow Lifespan Health to serve approximately 4,200 additional patients annually. The clinic will have 24 total exam rooms, including space for telehealth visits and multiple nurse’s stations. The new building will expand Lifespan Health’s family practice, pediatrics, OB/GYN, and behavioral health services.
As of February 2021, most construction work on the project has been completed and the health center expects to be able to see patients in the new facility in March 2021.
Capital Link provided early facility planning technical assistance over multiple site visits, working closely with staff to identify program priorities and space requirements. Additionally, Capital Link provided comprehensive financing assistance services that included business planning, financial forecasting, as well as served as the health center’s NMTC financial advisor for the $7.3 million NMTC transaction.
Lifespan Health is strongly committed to providing the highest quality and most affordable healthcare to its patients while also improving the health, lifestyle, and well-being of the communities they serve. Learn more here.