Roeder & 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.
“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.
“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.
“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.
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