“[The facility] will bring enormous benefit to approximately 1,700 families and individuals served each year. The opportunity to integrate services and expand outreach through a central hub for ShelterCare will benefit our community for many years to come,” said Susan Ban, Executive Director of ShelterCare. ShelterCare is a nonprofit corporation based in Eugene, OR that offers a variety of housing support services for the homeless or those facing homelessness with a committed focus on homeless families and the community’s most vulnerable individuals dealing with psychiatric disabilities and acquired brain injuries.
ShelterCare originally purchased the existing building using Oregon’s Small Nonprofit Accelerated Program (SNAP) Bonds, a program through which the Oregon Finance Authority issues bonds that are then purchased by a participating bank.
“After closing transactions for ShelterCare, SAGE, and Ride Connection, we’ve proven that the Oregon State NMTC program can be utilized in deals as small as $4 million, and in a manner that accommodates other non-traditional financing sources such as SNAP bonds, federal and state grants, third-party lenders, and capital campaigns still in process,” said Reynold Roeder, CEO of Roeder & Company, LLC. “These investments will all have a tremendous positive impact in the community and happened because the Oregon NMTC Program is such a flexible financing tool.”
The expansion of the service hub is expected to be completed in August of 2014. For more information on ShelterCare, please visit www.sheltercare.org.