Roeder & 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for health professionals in the region, SWOCC’s ability to meet the need for replacement workers is limited by severely outdated science and health labs that are over 50 years old, are unable to integrate new technology, and are too small for the number of students seeking education and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/.
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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