Story: Grace Community Health Center
Grace Health is a federally qualified health center (FQHC) in Corbin, Ky., that offers care to medically underserved communities in the southeast part of the state. It operates seven primary care clinics, a women’s care facility and a pediatric clinic along with 32 school-based health centers to provide medical and dental services in four counties. It also offers behavioral health and substance abuse services.
Grace serves approximately 31,000 patients annually and is the largest women’s health provider in the region. It is also a significant local employer in this largely rural area, where more than 28 percent of people live below the poverty line. It has with 318 staff members and is growing.
Grace expects to reach more than 5,000 additional patients with the new campus, with a focus on low-income residents that are not currently accessing health care.
Grace is tapping New Markets Tax Credits to finance a new $25 million campus that will combine three of its primary care clinics with its pediatric health center and a pharmacy. The plan is designed to add capacity and make it easier for people to access a range of health services, all in one place.
The project includes renovation of a vacant, 84,000-square-foot Kmart store where Grace will offer medical, dental, mental health and substance abuse treatment services. Grace is leasing the space, with a potential 32-year term, and using NMTC proceeds to complete renovations. The facility is located on a major highway with easy access for patients.
Broadstreet is supporting the transaction with $5 million from LISC’s NMTC allocation. Other NMTC contributors are Capital One and the Capital Fund. Capital One is also the investor.
- $5m Broadstreet NMTC Allocation
- 85 Permanent Jobs Created Projected
- 36,000 Projected Unique Patients Served Annually
Grace expects to reach more than 5,000 additional patients with the new campus, with a focus on low-income residents that are not currently accessing health care. The NMTC investment supports an additional 66 full-time staff members for Grace, while a sub-lease at the new facility—Baptist Health—is bringing on an additional 19 positions.