Mon, 11 Aug 2025 20:09:02 -0700WeeblyThu, 12 Jun 2025 07:00:00 GMThttp://rroeder.com/news/calhoun-liberty-hospital-closes-27-million-second-tranche-of-new-markets-tax-credit-allocationRoeder & Company, LLC and Calhoun Liberty Hospital are pleased to announce that they have closed a second tranche of $27 million New Markets Tax Credit allocation into its new facility located in rural Blountstown, Florida.  The net grant-like benefit derived from the transaction of approximately $4.8 million will allow the Hospital to repay debt incurred due to delays in grant funding and project cost overruns. 

“The benefit from the second tranche of New Markets Tax Credits was very helpful and such a relief.  The addition of debt when you are a non-profit is a burden because the funds required to service the debt aren’t available to support the mission and operations of the Hospital.  We are very grateful to the transaction parties who worked so hard on this for us”, stated Emily Brown, Calhoun Liberty Hospital, CEO.

Valley National Bank once again served as the tax credit investor. $15 million of allocation was provided by Central States Development and $12 million from Cadence Community Capital. 
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“We aren’t always able to land a second tranche of allocation for a project, but in this case we had a very deserving project and a very clear need”, said Reynold Roeder, Roeder & Company CEO.
]]>Tue, 15 Apr 2025 07:00:00 GMThttp://rroeder.com/news/fort-apache-heritage-foundation-closes-on-unique-tax-credit-financing-for-its-home-of-harmony-mixed-use-buildingRoeder & Company, LLC is pleased to announce what is believed to be the first ever closing of a “Twinned” New Markets Tax Credit and Historic Tax Credit financing on Native Trust Land.  The project is located in a non-metro census tract in the underserved state of Arizona on the White Mountain Apache Reservation.  The Home of Harmony project is the rehabilitation and renewal of the boys’ dormitory at Fort Apache that in earlier times held as many as 400 students in 26 student rooms.  The building was originally built in 1932. Fort Apache has a complex and difficult past shaped by the expansion of a colonizing America into traditional Apache lands. Viewed by many as a site of trauma that still haunts the Apache Nation, it also stands as a testament to the strength and creativity with which Apache people and their leaders maintained their sovereignty and cultural resilience in the face of persistent violence and injustice over more than a century.

Over time the building had fallen into disrepair and hadn’t been used in over 25 years.  The Fort Apache Heritage Foundation (“Foundation”) is converting the ground floor into retail and meeting space, the second floor into office space, and the third floor into apartments.  The Foundation and Roeder & Company sourced $13.5 million in federal NMTC allocation from Chickasaw CDE and US Bank and almost $3 million of Historic Tax credits.  In total, the tax credits are providing approximately $4 million of grant-like subsidy for the project.  US Bank served as both the tax credit investor and provided $2.5 million of NMTC allocation.    

Krista Beazley, Chief Executive Officer of the Foundation said, “We had a $5 million grant from the Economic Developent Administration, an Arizona State Parks grant of $500,000 and $3.5 million of equity, but we were still well short of what we needed.  Mr. Roeder visited Chairman Velasquez, who had invited me to the meeting to explore NMTCs as a funding source.  The timing was perfect.  Reynold provided an overview of the tax credit program and we continued to pursue it after his initial presentation.”

“At first, we were skeptical that the addition of Historic Tax Credits would be possible, but Mr. Roeder was convincing, and we still had a $2 million gap in our capital stack.  He was able to get us term sheets for both tax credits from US Bank, and shortly thereafter we were into due diligence and draft agreements,” said Joeseph Kalt, Foundation Director.

Krista Beazley further stated, “The Boys Dorm building rehabilitation will serve as a catalyst and cornerstone for the further development of Fort Apache.  The tax credit transaction structure and related documents can now serve as the basis for financing additional projects at Fort Apache.”

“The twinning of both credits on trust land and the addition of residential rental property presented more than a few technical challenges, but we had a great team of Community Development Entities, consultants, lawyers, and accountants in addition to the Foundation and Tribe,” said Reynold Roeder, Roeder & Company CEO. “We look forward to working with the Tribe and Foundation on additional projects.”
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For more information on the Foundation please visit www.fortapachearizona.org
]]>Thu, 19 Dec 2024 08:00:00 GMThttp://rroeder.com/news/san-carlos-apache-tribe-receives-new-markets-tax-credit-financing-for-its-cutter-arizona-sawmillRoeder & Company, LLC announces the closing of a federal New Markets Tax Credit (NMTC) financing of the San Carlos Apache’s sawmill in Cutter, Arizona. Roeder & Company sourced $9 million in federal NMTC allocation from Ecotrust CDE for the financing of the new sawmill producing rough green lumber from its reservation timberland.  Valley National Bank was the tax credit investor. 

The new sawmill is on the same site as the Tribe’s prior sawmill which had fallen into disrepair.  The new facility will allow the Tribe to strategically harvest its timber in a manner that aids the health, fire resistance, and sustainability of its timberland while creating new jobs and resources for the local native community. 
“Without the mill we, and parts of the surrounding national forests, were having trouble finding viable market outlets for the timber resources harvested.  Now that we can sell what we harvest we are able to better manage forest health on the reservation and nearby communities,” said Dee Randall, San Carlos Apache Forest Products Company, Inc. Chairman.

A second phase of the project is planned that will add a planer and kilns so that higher value, and more marketable, lumber can be produced enhancing the profitability of the sawmill and expanding the number of jobs created.

“The NMTC funding for the project in its current form has been an effort exceeding 7 years,” said Reynold Roeder, Roeder & Company CEO. “The project site required some environmental remediation and various issues arose over those years that delayed the financing.  The NMTC grant-like subsidy is anticipated to provide some working capital for the sawmill and kickstart the second phase.”
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For more information on the San Carlos Apache Tribe please see www.https://www.scat-nsn.gov/
]]>Thu, 11 Jul 2024 07:00:00 GMThttp://rroeder.com/news/pit-river-health-service-expands-tribal-clinic-with-111-million-of-nmtc-allocationRoeder & Company and Pit River Health Service ("PRHS") enabled the expansion and renovation of PRHS' clinic located in Burney, California utilizing New Markets Tax Credits ("NMTC").  Though located on the reservation, the clinic serves both Native and non-Native populations.  The NMTC financing will allow PRHS to renovate its clinic, and to construct a new, larger outpatient healthcare facility adjacent to the existing clinic. The result will be a 22,755 SF state-of-the-art medical campus in a medically underserved community. The project will expand PRHS’s medical, dental and behavioral health services, and will add optometry, radiology, pharmacy, and lab services.

Roeder & Company was able to source allocation from both California Statewide Communities Development Corporation and USBCDE LLC for this project and coordinate additional debt obtained through the USDA's direct Community Facilities Loan program and Native American Bank.  

"The multiple sources of financing, and the coordination of various program and lending rules, added complexity to the overall financing and took a multiyear effort, but the end result is bringing badly needed health services to an underserved Native population in a rural area of Northern California.  Without the NMTC grant-like subsidy the project could not have been built," said Reynold Roeder.  

For more information about Pit River Health Service, please click here.]]>Tue, 19 Mar 2024 07:00:00 GMThttp://rroeder.com/news/calhoun-liberty-hospital-closes-20-million-allocationRoeder & Company and Calhoun Liberty Hospital are pleased to announce the $20 million dollar New Markets Tax Credit (“NMTC”) closing and beginning of construction for its new 39,000 square foot hospital in Blountstown, Florida.  When complete in 2026, the new facility will replace the old hospital building that suffered immense damage from Hurricane Michael in 2018. 

The overall financing was comprised of various grants, bridge loans, insurance proceeds, and the NMTC loans.  The net derived benefit from the NMTCs filled a true financing gap in the capital stack.  Roeder & Company sourced the NMTC allocation and bridge financing, and structured the overall transaction.  NMTC allocation was provided by Dudley Ventures, Cityscape, and Empowerment Reinvestment Fund.  Valley National Bank was the tax credit investor. 

“The new hospital had been delayed for an assortment of reasons, most of which related to funding, and was at risk of losing its awarded grants if it didn’t begin construction.  With the help of Roeder & Company and a dedicated team of other professionals we were able to close the funding gap and begin construction”, said CEO Christinia Jepsen.

“The three-county community served will not only see increased medical services, but also benefit from over 200 construction jobs and approximately 190 retained and new jobs once the new hospital is complete”, stated Reynold Roeder, Roeder & Company CEO.

For more information about Calhoun Liberty Hospital, please click here.
]]>Thu, 13 Jul 2023 20:39:57 GMThttp://rroeder.com/news/san-carlos-apache-healthcare-receives-52-million-in-new-markets-tax-credit-allocation-for-its-hospital-annex-and-clarence-wesley-health-center-projectsIn one of the largest New Markets Tax Credits financings of 2023, Roeder & Company has advised San Carlos Apache Healthcare on the financing of its two-site healthcare project on the San Carlos Apache Reservation in rural Arizona. 

“As demand for services and the impact of Covid 19 increased, it was clear that we needed to expand our facilities so that we could remove non-medical space needs out of the existing hospital and into a separate building freeing up space within the hospital.  We have plans to move all information technologies and all storage out of the hospital building itself and into the newly constructed Annex building.  The space vacated within the hospital will then become available to expand primary care, pediatric services, and other patient services within the hospital building” said CEO Victoria Began.  “Additionally, the Annex itself will support our long-term strategic plan to add capacity to clinic operations and provide skilled nursing and long-term care for our elders consistent with their cultural heritage,” she continued. 

The relocation of the Clarence Wesley Health Center from its current location in Bylas was partially necessitated by the shifting soils on which it was originally built.  The new location, still in Bylas, AZ, will allow for the expansion of services offered in the Bylas District.  New or expanded services will include dental, pharmacy, imaging, and optometry. 

Reynold Roeder, Roeder & Company CEO commented, “We were able to bring an aggregate of $52 million in allocation to the project through a consortium of CDEs consisting of Clearinghouse, The Dakotas, Pacesetter, Ecotrust, Cityscape, and Wells Fargo.  Wells Fargo also served as the tax credit investor.  With this many allocation providers and a two-site project on trust land, there were numerous complexities and issues.  The group worked very well as a team and was able to close by the CDFI May 2023 threshold date.  It was truly a great team effort and provided in excess of $10 million of grant-like subsidy to the project.”

For more information about San Carlos Apache Healthcare, please click here.
]]>Tue, 22 Dec 2020 08:00:00 GMThttp://rroeder.com/news/aviva-health-receives-new-markets-tax-credit-financing-for-launch-of-primary-care-residency-programAviva Health is investing $18 million in a facility expansion to support its new Roseburg Family Medicine Residency program that will increase primary care services to the medically underserved population in rural Douglas County, Oregon.  Roeder & Company, LLC facilitated the closing of federal New Markets Tax Credit (NMTC) financing for the construction of the facility by sourcing $17 million in federal NMTC allocation from Dudley Ventures and Community Hospitality Healthcare Services with Wells Fargo as the tax credit investor.

In 2015, 6,000 patients in Douglas County were left without a primary care provider when five area family medicine physicians – due to retirement or relocation – left their practices. Aviva Health’s Family Medicine Residency Program aims to fill that gap in health care services.  The program will increase access to care for children and adults with unmet health needs and address the physician shortage that plagues the area and other regions of rural Oregon, providing additional career pathways in a growing industry. Douglas County is a designated Primary Care Health Professional Shortage Area, and this project will result in eight residents graduating annually, many of them choosing to stay and serve the surrounding rural community. To support the new residents, Aviva Health is undertaking a significant building project, expanding its current clinic space from 12 exam rooms to 34 and creating 52 new permanent jobs.

“Our community is experiencing a severe shortage of primary care providers, leaving our most vulnerable residents to rely on emergency rooms for non-emergency care,” said KC Bolton, CEO of Aviva Health. “Expanding our facility and training new physicians will increase access to medical care and reduce costs for our patients and the health care system, as well as create quality jobs that will positively impact our local economy.”

Lack of easy access to primary care increases utilization of costly urgent and emergency care for routine conditions and prevents timely follow up by primary care physicians for patients discharged from the hospital. Furthermore, published research indicates physicians trained in rural areas tend to practice more cost-effective health care and in regions close to where they completed their residency program. In Oregon, for every dollar invested in primary care via the Patient-Centered Primary Care Home model of care there is an average of $13 savings to the health care system.

The construction project included financing from Live Oak Bank and grant funding through the following sources: $1 million through the Health Resources and Services Administration; Capital Assistance for Disaster Assistance and Recovery Efforts; $5,000 through the Juan Young Trust; $10,000 through the C. Giles Hunt Foundation; and $2,500 through the Northwest Farm Credit Services. Aviva Health was also awarded $1 million in funding through the Healthy Oregon Workforce Training Opportunity grant, $300,000 of which will be used for the purchase of new equipment.

“This project was one of the first NMTC transactions to close utilizing a USDA B&I Guaranteed Loan under the new OneRD rules issued in October of this year,” said Reynold Roeder, CEO of Roeder & Company, LLC.  “The project faced many hurdles, including those related to the timing of the arrival of medical residents and Covid-19, but the team was able to overcome them all and get this very important rural community project financed and construction underway.”

​For more information on Aviva Health, please visit https://aviva.health/. ]]>Wed, 27 May 2020 07:00:00 GMThttp://rroeder.com/news/ko-kwel-wellness-center-closes-on-12-million-in-nmtc-fundingThe Coquille Indian Tribe is constructing a new 20,000 square-foot community health center, the Ko-Kwel Wellness Center (“KWC”), that will provide holistic care by integrating primary care, behavioral health, dental, and pharmacy services. The KWC will increase patient visits by fourfold, expanding services to the existing American Indian / Alaska Native (AI/AN) population as well as the surrounding community.  The Tribal and low-income community in the area currently face poverty and unemployment barriers, and thus have limited access to healthcare. To receive healthcare services as promised by the U.S. Government, AI/AN individuals often must drive three or more hours to an understaffed and over-utilized Indian Health Service facility. Frequently, they simply forego treatment. These newly provided services from the Coquille Indian Tribe’s project will improve access dramatically. 

Roeder & Company, LLC facilitated the closing of a federal New Markets Tax Credit (NMTC) financing for the construction of the facility, and sourced $12 million in federal NMTC allocation from Craft3, a regional nonprofit CDFI, with Wells Fargo as the tax credit investor.

For more information about the project, please click here.
]]>Fri, 04 Oct 2019 07:00:00 GMThttp://rroeder.com/news/fort-george-brewery-receives-new-markets-tax-credit-financing-for-business-expansionFort George Brewery is acquiring, remediating, and renovating the former Astoria Warehousing salmon cannery complex in rural Astoria, Oregon into a 124,000 square-foot brewing, canning, cold storage, and distribution facility that will produce ten million cans of beer annually. Roeder & Company, LLC facilitated the closing of a federal New Markets Tax Credit (NMTC) financing for the acquisition and equipping of the facility, and sourced $12 million in federal NMTC allocation from Craft3, a regional nonprofit CDFI, with US Bank as the tax credit investor.

In January 2018, Astoria Warehousing shuttered its canning operations resulting in the elimination of 25 blue-collar positions. Fort George will create at least 35 quality jobs and renew canning operations at the site, albeit for beer instead of salmon.

Astoria was known as the salmon-canning capital of the world, and this site represents the last intact cannery on the waterfront. Chris Nemlowill, owner of Fort George Brewery plans to honor that heritage and continue to create living wage jobs in the community.

The craft beverage industry and vacant industrial sites figure heavily in the city’s aim to create 200 high-wage jobs by 2021, putting this project in direct alignment with the Advance Astoria plan.

“Craft3 is excited to support this project as Fort George’s expansion will provide critical mass of employment for potential graduates of a brewer program under development at Clatsop Community College,” said Walt Postlewait, Executive Vice President of Craft3. “In a community that has experienced job reduction in its core natural resources industries, developing projects concurrent with job training programs is essential.”

The economic benefits of this project will be felt beyond the Astoria community. The majority of raw materials purchased by Fort George Brewery are sourced from low-income areas, driving economic activity, job creation, and opportunity throughout the Pacific Northwest.

The acquisition included financing from Craft3, the State of Oregon, the City of Astoria, US Bank National Association, and US Bank Community Development Corporation.

“This project involved funding from public and private sources, and also environmental remediation plans that were coordinated with the State,” said Sara Pietka, President of Roeder & Company, LLC.  “The Fort George transaction was complex, but NMTCs proved to be a flexible source of financing to help bring all the pieces of the financing puzzle together.”

For more information on Fort George Brewery, please visit here. 
]]>Tue, 25 Jun 2019 07:00:00 GMThttp://rroeder.com/news/southwestern-oregon-community-college-receives-new-markets-tax-credit-financing-for-health-science-technology-buildingRoeder & Company, LLC announces the closing of a federal New Markets Tax Credit (NMTC) financing for the Health & Science Technology Building on the Southwestern Oregon Community College (SWOCC) campus in rural Coos County, Oregon. Roeder & Company sourced $11.7 million in federal NMTC allocation from Dakotas America and Chase Bank for the financing of the new $25 million, 36,000 square-foot educational facility. 
The project will expand and modernize laboratory, classroom, and ancillary spaces for health and science programs. As the only public, post-secondary institution on the south Oregon coast, SWOCC is the area’s leading provider of job training and career preparation for a student population that is majority low-income and first-generation college attendees.

“This building will help the College train more young people for high-wage and high-demand science and health care jobs that will support their families,” said Dr. Patty Scott, SWOCC President. “Ultimately, this investment will improve our economy and quality of life in every community on the south coast from Reedsport to Brookings.” 

Nearly 33% of SWOCC’s region’s health care workers are age 55 or older, and the federal government has identified the cities of Bandon, Coos Bay, Coquille/Myrtle Point, and Powers as medically underserved areas with a shortage of health care providers. Despite the clear need for health professionals in the region, SWOCC’s ability to meet the need for replacement workers is limited by severely outdated science and health labs that are over 50 years old, are unable to integrate new technology, and are too small for the number of students seeking education and training in the field.

“The new Health & Science Technology Building will enable SWOCC to graduate 24 additional nursing students annually,” said Jeff Whitey, SWOCC Vice President of Administrative Services. “Beyond the direct impact of additional health care professionals in this area, the project is also expanding the College’s ability to inspire tomorrow's scientists, engineers and health care professionals, and improve people's lives.”

“The funding for the project in its current form has been an effort exceeding 6 years,” said Sara Pietka, Roeder & Company President. “Costs climbed throughout that period and additional sources of low-cost capital had been exhausted. The NMTC funding was a patient source of flexible capital and served as essential gap financing, enabling the project to move forward.”

For more information on SWOCC, please visit https://www.socc.edu/.
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