Care Resources Community Health Center

Miami,
FL
(2019)

Care Resources Community Health Center

Community, FQHCs, Healthcare

NMTC financing for Care Resource Community Health Center to support a new facility.

Investment

NMTC Amount: $20,700,000
Total Project Cost: $32,800,000

IMPACT

508 FTE jobs
150 construction jobs
173,187 patients served
Project includes a Federally Qualified Health Center.

CDEs

Community Health Center Capital Fund, Primary Care Development Corporation

Voices from the Community

Capital Fund guided us through every step of closing an NMTC deal for our Miami expansion. We are thankful for their assistance and expertise, and look forward to working with them again.

-Keenan Karwan, CFO, Care Resource Miami, Florida

Project Description

On July 9, 2019, Community Health Center Capital Fund (Capital Fund) completed $10.7 million in New Markets Tax Credits (NMTC) financing for Care Resource Community Health Center to support the $32.8 million expansion of its main facility in Miami, FL. In addition to the tax credits provided by Capital Fund, project financing also included a $2 million direct loan from Capital Fund, an NMTC equity investment and loan from Primary Care Development Corporation, a Health Center Program grant from the Health Resources and Services Administration, a loan from National Cooperative Bank, and the health center’s own cash investment.

MAP

Address: 3510 Biscayne Blvd, Miami, FL 33137

Census Tract: 12086003707

Other Florida Projects

Florida Interfaith Network in Disaster

Bonifay,
FL
(2019)

Religious Organizations

CDE(s): Advantage Capital

NMTC financing supported Florida Interfaith Networking in Disasters (FIND), a coalition of faith-based disaster responders in Florida who network with state, local and national agencies to prepare Florida’s communities for

Peace River Center

Lakeland,
FL
(2015)

Addiction Treatment, Adult Daycare, Behavioral Health, Community, Healthcare, Hospitals and Emergency Services, Nursing Homes and Hospice

CDE(s): Community Hospitality Healthcare Services

The construction of a new 14,000 sq. ft. comprehensive behavioral health emergency room.

JHB Auto Parts

Century,
FL
(2019)

Retail

CDE(s): United Bank of Alabama

The company is an operating business that engages in the sale of automotive parts and mechanic services. It will use the proceeds to acquire a new commercial facility to begin

Knowledge Is Power Program

Jacksonville,
FL
(2010)

Community, Schools

CDE(s): Florida Community Loan Fund, Local Initiatives Support Corporation

Construction of a not-for-profit open enrollment charter school with a renowned track record of preparing students from our nation's most educationally undeserved communities for success in college and life.