$17.1 million TOTAL PROJECT
$17 million FCLF FEDERAL NMTC ALLOCATION
4 locations totaling 64,500 sq ft of new construction and renovation
Estimated reach 17,050 patients annually
245 permanent and 54 temporary jobs estimated
“The collaboration with FCLF will allow CHCP to provide affordable medical and dental care of the highest quality for many thousands of Pinellas County residents. NMTC is a vehicle that allows us to bring the most ambitious projects to life for the benefit of the communities we serve.” – Elodie Dorso, President & CEO, Community Health Centers of Pinellas, Inc.
Pinellas County, Florida is the most densely populated county in the state, with a population of nearly 1 million, including more than 300,000 low-income residents. For 40 years, Community Health Centers of Pinellas (CHCP) has provided affordable, primary healthcare. CHCP is a Federally Qualified Health Center (FQHC) with a focus on underserved, low-income, uninsured, and underinsured individuals and families.
CHCP was founded in 1980 by a pioneering activist in the fight against sickle cell anemia to help serve African-American and other low-income residents. Today, CHCP operates a network of 12 health centers and a Mobile Health Center that span the county, serving nearly 60,000 patients annually. CHCP provides family and pediatric medicine, OB/GYN, dental, affordable pharmacy, mental health and substance abuse services, chiropractic, nutrition, podiatry, case management, and healthcare enrollment assistance. 97% of patients have income that is at or below 200% of the federal poverty level, 29% are uninsured, and 51% are on Medicaid or Children’s Health Insurance Program.
With financing from the New Markets Tax Credit (NMTC) Program, CHCP will increase services for an additional 17,050 Pinellas County residents by adding two new health centers and renovating two existing facilities:
- Construction of a new dental center in Tarpon Springs specializing in services for uninsured, underinsured, and veterans;
- Acquisition and renovation of a building in Highpoint to provide medical and dental services, enhanced telehealth capabilities, and augmented emergency management work with the County;
- Conversion of administrative space at CHCP’s flagship Midtown St. Petersburg facility into a health center, doubling its dental capacity and significantly expanding medical services;
- Renovation of CHCP’s Lealman Center that will provide dental services, and expand medical and behavioral health services.
In addition to healthcare services, this project will revitalize four neighborhoods and create or retain 299 jobs. CHCP is also partnering with Nova University to provide first-hand clinical experience to medical students in economically distressed areas.
Florida Community Loan Fund (FCLF) provided $17 million in federal NMTCs for Community Health Centers of Pinellas’ expansion and renovation. The investor is US Bank CDC. The project has received additional funding from Hancock Whitney Bank and support from Pinellas County and the City of Tarpon Springs. This transaction was completed in April 2020.
“What could be more important to Pinellas County right now than expanding healthcare services? Even more importantly, though, expanding CHCP’s reach – using the power of the NMTC Program – will provide healthcare to those most in need for years to come.” – Nelson Black, Chief Lending Officer, Florida Community Loan Fund
- Income 53-69% of AMI (Area Median Income)
- 15-20% Unemployment Rate – 1.9-2x4x the National Average
- 29-39% Poverty Rate
- Medically Underserved Area / Population, Food Desert, FEMA Disaster Zone
Pictured above, architectural rendering of the new CHCP Tarpon Springs clinic.