Situation
U.S. Bancorp Community Development Corp. (USBCDC) anticipated financing the multimillion-dollar construction of a healthcare center and affordable housing complex in Denver. Several funding sources, including tax credit equity and an HRSA grant, created many complexities.
Result
Our team developed solutions to allow USBCDC to provide New Markets Tax Credit financing concurrently with, but separately from, Low-Income Housing Tax Credit financing. The center will replace an existing clinic, increase capacity by 75 percent and enable service to 15,000 homeless adults and children annually.