Last month, Opportunity Fund’s New Market Tax Credit program closed on $20,640,000 in low-interest financing to help construct and renovate two health clinics on the Central Coast – one in Lompoc and one in Paso Robles. Once constructed, these two health clinics are projected to serve an estimated 37,000 individuals annually, 77% of whom are estimated to be low-income.
The health clinics will be operated by California Health Centers of the Central Coast (CHC), a Federally Qualified Health Clinic (FQHC) based in Santa Maria, California. The loan will provide financing for the construction of a 27,500 sq. ft. health clinic in Lompoc and the renovation of a 21,300 sq. ft. space into a new health clinic in Paso Robles.
Caring for vulnerable populations
These two health clinics are located in communities where nearly a quarter of residents are living in poverty. CHC provides accessible, affordable, and quality health care and support services to a patient population that includes low-income, uninsured community members, with a special emphasis caring for homeless people, seasonal and migrant agricultural workers and their families, and veterans
Supporting job creation
Once open, these health clinics will create or retain an estimated 185 full-time equivalent jobs, all paying living wages and providing benefits. In addition, 91 construction jobs will be supported through the construction and renovation efforts.
“Funding of the CHC facilities represents Opportunity Fund’s continuing commitment to supporting affordable and comprehensive medical, mental, and dental coverage for our nation’s low-income communities. We have already provided $72.6 million in low-interest funding to seven other such facilities and the CHC projects will further expand this coverage.”
– Jeff Wells, VP, New Markets Director at Opportunity Fund