Capital Fund Provides Support for Two Vecino Health Centers Facilities in Houston, TX
Artist's rendering of Vecino Health Center's expanded Denver Harbor Family Clinic
On August 14, 2018, Community Health Center Capital Fund (Capital Fund) participated in the financial closing to support the $8.5 million expansion and renovation of two health center facilities owned by Vecino Health Centers (formerly Houston Community Health Centers, Inc.) in Houston, TX.
Capital Fund provided a $5 million New Market Tax Credit (NMTC) allocation and a $1.5 million leveraged loan for the projects. Financing also included a grant from the Health Resources and Services Administration’s Health Center Program, a NTMC-equity investment from JPMorgan Chase Bank, a leveraged loan from Partners for the Common Good, and the health center’s own equity investment.
Upon completion in September 2019, the updated facilities will provide Vecino Health Centers with an additional 11,000 square feet of new space and 4,000 square feet of renovated space and expand its capacity to provide adult and pediatric medical, dental, and behavioral health services. By the end of 2025, the project is expected to allow the Vecino to serve an additional 7,000 patients and employ an additional 18 full-time employees.
Incorporated in 1999, Vecino Health Centers is a Federally Qualified Health Center operating two health facilities in Houston, TX. Click here to learn more about Vecino.