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

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