PrimeCare Community Health Inc. (The NMTC & Financial Engineering Project)
5635 Belmont cragin, chicago, il
Size: 16,000+ square feet
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Primecare (FQHC): The project owner is PrimeCare Community Health Inc., a 501(c)(3)not for profit organization that is a Federally Qualified Health Center (FQHC) that provides quality, affordable care to medically underserved populations on Chicago’s West and Northwest sides.
PrimeCare was operating out of an outdated facility that was too small.
PrimeCare lacked the capital necessary to buildout new space.
PrimeCare contacted BaumRevision who partnered with PrimeCare to procure the necessary debt, equity and tax credits, locate a new building and deliver a turn-key solution.
The project expands the scope of PrimeCare’s services to include behavioral health and dental practices and enablesPrimeCare to serve an estimated 40,000visits annually at this location.
Job Creation/People served
22 additional positions, all bilingual English-Polish or English-Spanish
1 Advanced Practice Nurses or Physician Assistants
3 Licensed Clinical Social Workers
1 Registered Nurse
12 unlicensed support staff, including medical assistants and dental assistants
40 estimated construction jobs
NMTC secured by BR provides equity for Primcare to own a new 16,000 Square Foot Community Health Center in a Federally Medically Underserved Area providing healthcare, dental care, and behavior health services: The acquisition and construction (through building renovation) of a 16,000 square foot primary health clinic that will support the relocation an existing clinic and the expansion of PrimeCare’s Services and will provide an estimated 40,000 visits annually at this location
Demonstrable Community Outcomes of Major Significance: Located in Belmont-Cragin, an area that is medically underserved with higher rates of uninsured citizens than the City of Chicago and causes of death from disease that are higher than the City of Chicago averages. Currently, there are 0.3 primary care providers for every 1,000 residents in Belmont Cragin (compared to a rate of 0.67 per 1,000 for the city), and 0.32 dentists for every 1,000 residents in the community area (compared to 1 per 1,000 for the city). Primecare’s facility will offer these citizens access to services that they do not currently have.
Low-IncomeCommunity/Local Income Persons as Beneficiaries: The majority of the patient population is low income consumers who are underserved and/or uninsured. The community has higher poverty rates than the city average and is populated by minorities.