Roeder & 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.
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.
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