Project Type(s): Community and Healthcare
Project Year: 2019
CDE(s): Community Health Center Capital Fund
NMTC amount: $20,700,000
Total Project Costs: $32,800,000
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.