Project Type(s): Community and Healthcare
Project Year: 2008
CDE(s): Bank of America
NMTC amount: $500,000
Total Project Costs: $5,000,000
AADAP is a nonprofit 501[c]  corporation established in 1972. During the last 35 years, the organization has grown with the changing needs of its community by broadening its scope of services from drug abuse prevention/treatment to include HIV/AIDS outreach, drug court and parenting services. The company has experienced an increased demand for its products and required additional facilities to support to effective deliver services in the South Los Angeles community; additionally, it wanted to lower its borrowing costs. Loan proceeds were used to acquire a 22,500 square foot office building in South Los Angeles and consolidate existing loans used to acquire two other office buildings totaling 40,000 square feet utilized for AADAPs social services programs.