NMTC Investment in Texas
Between 2003 and 2015, $1.4 billion in NMTC allocation leveraged an additional $871.4 million from other sources for a total of $2.3 billion in project investments to 152 Texas businesses and revitalization efforts, creating 34,728 jobs. Below are a few Texas stories.
Pacesetter Financing Supports NMTC Projects in Texas
Pacesetter, a CDE located in Texas, has deployed much of its NMTC Allocation in Texas. Below are a few examples of projects financed by Pacesetter (PCDE):
University of the Incarnate Word - School of Optometry
San Antonio, Texas
The University of the Incarnate Word School of Optometry (UIWSO) began its professional program in 2009. Although it began admitting students at that time, the school was significantly lacking resources - equipment, laboratories and class room space were in short supply. Today, thanks to the NMTC, the UIWSO eye care facilities have the most advanced diagnostic instruments and technology that serve the citizens of San Antonio and South Texas. The clinical facility has the ability to serve thousands of patients per year. This project is now fully built out and student enrollment is growing. There are currently only 17 schools of optometry in the United States, and only one in Texas. Pacesetter (PCDE)'s management recently had the opportunity, first hand, to see the students in class, the laboratory in action and the patients receiving in-depth, top-notch clinical eye care. While public school is in session, children stream into the school to learn about the eye, its functions and other interesting science facts. The children, mostly from elementary schools located in LIC census tracts are also given free eye examinations.
Community Benefits: This project hit five key metrics, high paying jobs, benefits to the community through lowered healthcare costs, significant capital expenditures, local area revenue impact and expansion of educational opportunities. PCDE’s investment helped create a center of excellence that also created an eye clinic that provides healthcare access at a reduced price to qualifying LIC patients. These services will provide reduced cost care to low income community residents and provides free eye examinations to thousands of children in Bexar County. They will also provide eye care clinical services to a number of nursing homes and assisted living facilities in San Antonio.
Rural North Texas
PCDE’s investment helped create a series of retail, restaurant and office centers which are providing significant tax revenues to the local community and have helped fund additional high school teachers. The first store was completed by June, 2011. Frontier Fuel is a woman owned retail store located in rural North Texas. This was our first opportunity to invest directly into a “community experience” project. This project while providing a new opportunity for economic development in this non-metro town has become a significant source of revenue, helping to offset municipal costs.
Community Benefits: Located in Dalhart, population 7,237, this retail store is perfectly situated to capitalize on both local and travelling traffic. Dalhart is known by many Texans as the gateway to the Colorado Rockies. The city's position in the northwestern corner of the Texas Panhandle makes it a pivotal stopover for travelers going to or returning from the mountains. The economic benefits of this rural store include the employment of 40 short term construction jobs. Once the project was completed, thirty full time employment positions were created and filled. The operator of this project is a long standing member of the community and the business has become a focal point in this small, rural town. As an example of its community impact, recently, in order to honor the memory of local Iraqi War Veteran, the store promoted a Bike Rally. This rally generated hundreds of visitors and provided seven scholarships for local residents seeking higher education and technical apprenticeship.
University of the Incarnate Word - East Side Clinic
Eastside Clinic is located in a highly distressed area in San Antonio, TX. It is a standalone health clinic that provides indigent health care and created apprenticeship programs for a nearby minority school. The Eastside Eye Clinic is a 30,000 square foot building with a staff of 24 attending providers, 78 clinical interns and 35 full examination rooms. Charges for clinical care are based on a financial need sliding scale that would provide free and/or significantly reduced eye care for the residents of the local community.
Community Benefits: Besides first class and extensive eye care at reduced prices for local residents, the clinic provides incredible community benefits. The clinic (i) participates in community health fairs, (ii) is a community vision educational resource, (iii) provides optometric continuing education (iv) provides daily school screenings by providers and clinical students (5,000 children per year), (v) has a nursing home/assisted living on-site eye-care services and (vi) is a seat of knowledge for eye-care in the greater San Antonio area.
Cook Children's Health Care System
Cook Children’s is a non-profit children’s health care system located in a highly distressed area in downtown Ft. Worth, TX. Cook Children's Health Care System provides pediatric specific services to all children along their entire continuum of health and medical care; primary, specialty, hospital, home health and government health insurance program beneficiary managed care. This includes mental health and a special initiative to serve the needs of our homeless children and their families. This financing expands medical care for children and residents of LICs. Cook Children’s centralizes all non-direct patient care staff and is a significant financial driver for the organization creating efficiencies and return for the entire health care system.
Community Benefits: This project created approximately 60 permanent jobs along with 249 full time equivalent construction jobs. Cook Children’s retained and relocated 371 employees from a non-qualifying location to a qualifying highly distressed LIC. A portion of the 120,000 SF facility will be made available as needed to various community groups and coalitions with a children’s health focus. Cook Children's is the only pediatric hospital in Fort Worth. Although there is a considerable amount of hospital, clinical and physician office space in the area, there is not a significant amount of general office space. For example, to make room for the expansion of Cook Children's Medical Center in 2008, the roughly 400 employees had to be relocated to one of four separate buildings outside this low income area. This development created space and the opportunity to bring all of these staff members back into the LIC area, benefitting the restaurants, shops and businesses in the area.
Description of QALICB: BSA Camp Wisdom is located in a highly distressed area in Dallas, TX on 371 acres just 11 miles from downtown Dallas. The Camp’s program targets underprivileged young men, bringing the benefits of leadership skills and independent thought among the region’s youth. Camp Wisdom is the primary campground for scouts participating via the ScoutReach program and is a venue for the Boy Scouts school-based Learning for Life character leadership program. Camp Wisdom is home to nearly 4 dozen campsites, rifle and archery ranges, a fully-stocked lake, an outdoor amphitheater, and a high-ropes fitness challenge course.
Community Benefits: The BSA project permitted Circle Ten Council, Boy Scouts of America, headquartered in Dallas, to provide a meaningfully improved outdoor experience at Camp Wisdom for several thousand participants including youth in the ScoutReach program for disadvantaged boys. The new Leadership Conference Center doubled the training capacity and created a new facility accessible to the community. The investment in Camp Wisdom resulted in higher retention rates among ScoutReach participants, increasing the number of disadvantaged youth who remain members of the Boy Scouts. PCDE’s NMTC financing funded the badly-needed facility and infrastructure upgrades, which improved retention among ScoutReach participants and better integrated the facility with the surrounding highly-distressed low income community.
Texas Case Studies