News

May 12, 2016

First Choice Community Healthcare Selected For Healthy Futures Fund Readiness Program



ALBUQUERQUE, NM, Capital Link has selected First Choice Community Healthcare as one of 10 innovative health center systems across the country to participate in the Healthy Futures Fund Readiness Program, a technical assistance program to prepare health centers for Healthy Futures Fund (HFF) financing.

The HFF is a $200 million collaboration between the Local Initiatives Support Corporation (LISC), Morgan Stanley and The Kresge Foundation designed to promote healthy communities—with capital financing resources specifically designated for Federally Qualified Health Centers (FQHCs) that are addressing the social determinants of health through a co-location model.

Participating health centers include:

• Alivio Medical Center with The Resurrection Project, Chicago, IL
• Blackstone Valley Community Health Care, Central Falls, RI
• El Centro del Barrio (dba CentroMed), San Antonio, TX
• Esperanza Health Centers, Chicago, IL
• First Choice Community Healthcare, Albuquerque, NM
• Hill Country Community Clinic, Redding, CA
• Legacy Community Health with Avenue Community Development Corp., Houston, TX
• NOELA Health Center with Mary Queen of Vietnam, New Orleans, LA
• New Economics for Women (possible collaboration with Arroyo Vista Family Health Center), Los Angeles, CA
• Primary Health Network with Midland Development Corp., Midland, PA

The selected health centers have planned projects that combine access to health care with a variety of services designed to address broader community concerns, including affordable and/or supportive housing; physical fitness and wellness centers; community gardens, urban farms and healthy foods; early childhood education and charter schools; and financial, technology and employment training.

The HFF Readiness Program has two primary components:

1. Group Learning: Webinars will provide education on New Markets Tax Credit (NMTC) financing, particularly through HFF, and what it takes to be ready to successfully obtain financing. Participants will also benefit from the experiences of other health centers that have taken on projects to address the social determinants of health — and have obtained NMTC financing to advance these projects.

2. Individualized Advisory Services: Capital Link consultants will help participants understand whether or not the HFF NMTC financing structure would be advantageous for their needs, and if so, develop a specific work plan to achieve readiness for financing. This assistance includes identifying areas of needed operational or financial improvement to be addressed through the planning grant phase.

Those that successfully complete the HFF Readiness Program will be eligible to apply to LISC for grant funding to advance their capital project planning and can be considered for financing through HFF. Congratulations to all participants!