The U.S. Department of the Treasury’s Community Development Financial Institutions Fund announced the awardees for the 2017 round of New Markets Tax Credit (NMTC) allocations. The $3.5 billion in awards are aimed at revitalizing low-income communities and increasing economic opportunity nationwide. Community Health Center Capital Fund (Capital Fund), was awarded a $40 million NMTC allocation.
NMTC financing is a critical source of low-cost capital and equity for health center facility projects—often securing approximately 20-22% of total project costs. This allocation award will help Capital Fund provide health centers with greater access to this funding option through a streamlined and accelerated process for eligible projects.
Capital Fund has extensive experience providing attractive tax credit financing and direct loans for health center projects. Of the nearly $1 billion in financing obtained by health centers through the NMTC program, approximately 60% was raised with the assistance of Capital Fund and/or its affiliate, Capital Link. For more information about how Capital Fund can help health centers, click here.
For help in determining whether NMTC financing could be a good fit for your health center, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
On September 28, 2017, Community Health Center Capital Fund (Capital Fund) provided financing for a $5.6 million renovation and expansion of the Bloomington clinic of the Community Health Systems, Inc. (CHSI) in California. The project was funded with a $2,000,000 loan from Capital Fund, a loan from Capital Impact Partners, and grants from the Health Resources and Services Administration, and Inland Empire Health Plan. The financing enables CHSI to double the size of its Bloomington clinic through renovation of the existing facility. The project will allow the clinic to add obstetrician, behavioral health, and internal medicine and expand its primary care and dental capacity. Upon completion in July 2018, the Bloomington clinic will be able to serve an estimated 11,000 additional patients through 36,000 visits annually, a significant increase to its current capacity of approximately 5,600 patients through 18,500 visits annually. CHSI in Bloomington will also be able to employ an additional 28 full-time equivalent employees. The Bloomington clinic began operations over 20 years ago and was the first facility opened by Community Health Systems, Inc. To learn more, click here. We know health centers. Get to know us. For more information on our loan products, please contact Brandon Boyle, Director of Loan Programs, at 617-988-2265 or This email address is being protected from spambots. You need JavaScript enabled to view it..
On August 2, 2017, Community Health Center Capital Fund (Capital Fund) participated in the financial closing to support the development of a $14.1 million health center facility for Blackstone Valley Community Health Center, Inc., (BVCHC) in RI as part of the Healthy Futures Fund 2.0 initiative.
Capital Fund provided BVCHC with a $580,000 leveraged loan guaranteed in part by The Kresge Foundation. The health center also utilized a leveraged loan from Local Initiatives Support Corporation (LISC), and a leveraged loan and a New Market Tax Credit (NMTC)-equity investment from Morgan Stanley. The financing enables BVCHC to purchase property in Central Falls, RI and construct the Central Falls Neighborhood Health Station, a unique population-based primary care and public health collaboration. With this new “neighborhood health station,” BVCHC seeks to redefine population health by committing to serve 90% of Central Falls residents and provide 90% of the health care citywide. Upon completion in February 2018, the 47,000 square-foot facility will house 42 medical exam rooms and offer a broad range of services, including primary care, dental care, behavioral health care, pharmacy, laboratory testing, radiology, and substance abuse treatment. Over the eight-year period following completion, the project is expected to serve an additional 16,000 patients with an average increase in patient visits of 9% each year, and employ 50 full-time equivalent employees. Established in 1990, Blackstone Valley Community Health Center is a Federally Qualified Health Center with six health facilities located in Pawtucket and Central Falls, RI. Learn more here. Formed by the Local Initiatives Support Corporation (LISC), Morgan Stanley, and The Kresge Foundation, Healthy Futures Fund 2.0 is an initiative to improve community health by connecting health care and affordable housing for low-income residents. Learn more about Health Futures Fund here.
For more information on our loan products, please contact Brandon Boyle, Director of Loan Programs, at 617-988-2265 or This email address is being protected from spambots. You need JavaScript enabled to view it..
On May 19, 2017, Community Health Center Capital Fund (Capital Fund) participated in the financial closing to support the development of a $8.24 million health center facility for Community of Hope, Inc. in Washington, DC. as part of the Healthy Futures Fund 2.0 initiative. Capital Fund provided a $240,000 leveraged loan guaranteed by in part by The Kresge Foundation. Community of Hope also utilized a leveraged loan from Local Initiatives Support Corporation (LISC), a leverage loan and New Market Tax Credit (NMTC)-equity investment from Morgan Stanley, and a sponsor equity contribution from the Horning Family Foundation. The financing will allow Community of Hope to lease and renovate an existing building, which is expected to be completed in the summer of 2018 and is projected to increase the organization’s patient capacity by 88% by 2024. Community of Hope’s new 8,800 square-foot health center facility will be part of The Commons at Stanton Square, a large multi-purpose development located in the Fort Stanton/Hillsdale area of D.C.’s Ward 8. The Commons will serve as a campus for community programs co-located with mixed- and low-income housing. Along with primary care, dental, and behavioral health services, Community of Hope will also provide counseling for emotional wellness, parental support, and social services. The Common’s will also be home to the headquarters of Martha’s Table, a local nonprofit organization that works to increase access to quality education programs, healthy food, and family supports. Learn more about the new Stanton Square project here. Established in 1980, Community of Hope is a nonprofit organization that provides housing and health services to homeless families in Washington, DC, and currently operates three Federally Qualified Health Centers. Learn more about Community of Hope here. Formed by the Local Initiatives Support Corporation (LISC), Morgan Stanley, and The Kresge Foundation, Healthy Futures Fund 2.0 is an initiative to improve community health by connecting health care and affordable housing for low-income residents. Learn more about Healthy Futures Fund here.
For more information on our loan products, please contact Brandon Boyle, Director of Loan Programs, at 617-988-2265 or This email address is being protected from spambots. You need JavaScript enabled to view it..
Community Health Center Capital Fund (Capital Fund) recently participated in financial closings to support two health center capital projects as part of the Healthy Futures Fund 2.0 (HFF). Formed by the Local Initiatives Support Corporation (LISC), Morgan Stanley, and The Kresge Foundation, HFF is an initiative to improve community health by connecting health care and affordable housing for low-income residents.
Family Health Center in Kalamazoo, MI
On November 30, 2016, Capital Fund, in collaboration with Local Initiative Support Corporation (LISC), Morgan Stanley, and The Kresge Foundation, participated in financing the $15 million expansion of Family Health Center’s (FHC’s) new facility in Kalamazoo, MI. Capital Fund provided a $5.4 million NMTC allocation and $400,000 leveraged loan guaranteed in part by The Kresge Foundation. Funding for the Healthy Futures Fund project also included a NMTC allocation, NMTC-equity investment, and a leverage loan from Morgan Stanley; a leverage loan from LISC; a grant from Kalamazoo County; and FHC’s own cash investment. Upon completion in March 2017, the new 49,000 square-foot facility will allow the health center to service an additional 18,825 patients each year and add an additional 57 full-time employees by 2023. The new building will include 24 medical exam rooms and 25 dental operatory stations, with space to add 24 additional exam rooms in the future. Services will include family practice, pediatrics, dental, pharmacy, health care education, behavioral health, case management, community health education, physical therapy, and occupational therapy. FHC currently operates eight health centers in the Kalamazoo area and one in nearby Portage, MI. Learn more about the new Kalamazoo facility here.
Mountain Park Health Center in Tempe, Arizona
On September 2, 2016, Capital Fund, in collaboration with Local Initiative Support Corporation (LISC), Morgan Stanley, and The Kresge Foundation, participated in financing for Mountain Park Health Center’s $13.9 million purchase and renovation of a new facility in Tempe, AZ. Capital Fund provided a $650,000 leveraged loan guaranteed by the The Kresge Foundation for the Healthy Futures Fund project. Mountain Park also utilized a leveraged loan from LISC, a leverage loan and New Market Tax Credit (NMTC)-equity investment from Morgan Stanley, and Mountain Park’s own cash investment. Upon completion in early 2017, the new 32,000 square-foot facility will be over three times the size of the current building. This substantial growth will enable the Tempe clinic to increase patient capacity by 250%—an increase of 13,000 patients per year—and add an additional 33 employees by 2023. The new facility will also offer space for local law firms to provide pro-bono legal services as well as a recreation and outdoor gathering area for use by the community. Established over 30 years ago, Mountain Park operates seven additional health centers in neighboring areas of Goodyear and Phoenix, AZ. Learn more about the new Tempe facility here.
For more information on our loan products, please contact Brandon Boyle, Director of Loan Programs, at 617-988-2265 or This email address is being protected from spambots. You need JavaScript enabled to view it..