TACOMA, Wash. — Construction of a new $26 million health center — delayed for months — began in Tacoma, Wash. The 54,000-square-foot project, financed by tax credits, private donors, the state, the city of Tacoma and several non-profit corporations, replaces a small community health care clinic that has served the Hilltop and near-downtown-Tacoma areas for three decades.
The three-story brick facility will serve more than 17,000 patients annually and include medical and dental clinics, urgent care, radiology, pediatrics, internal medicine and obstetrics.
“In a time of economic uncertainty, this innovative source of funding was a real boon to making sure our important health care facility would happen,” said David Flentge, president and chief executive officer of Community Health Care. “Without New Market Tax Credits raising the financing necessary, our new center would have been difficult, to say the least.”
Added Matt Philpott, director of new markets, historic and renewable energy tax credit investments for U.S. Bancorp Community Development Corporation, “The need for New Market Tax Credit financing is greater than ever during a slow economy, as funding gaps get larger and other sources of capital disappear.”
Community Health Care was able to raise more than $21 million through the tax credit program. Capital Campaign Co-Chair Jim Walton says that with $5 million left to go, there are still opportunities to help underwrite this project.
The project architect is Johnson Architecture and Planning, and Abbott Construction will serve as general contractor. The new health center is slated for completion by October 2013.