PB Community Impact Fund provided $12,000,000 of federal New Market Tax Credit allocation to the minority-controlled Capital City Family Health Center (the “Sponsor” or “CareSouth”) to finance the construction and equipping of a roughly 35,000 square-foot Federally Qualified Health Center (FQHC) in a severely distressed census tract in Baton Rouge, LA. The new medical facility provides primary care, behavioral health, physical therapy, vision care, and dental care with a focus on low-income seniors. A third-party tenant, Moreau Therapeutics, will occupy around 15% of the building and provide physical therapy as well as hearing care. 

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The project was in planning for over two years and NMTCs were a required component of the capital stack to enable it to proceed. NMTCs bridged the remaining gap in the capital stack and allowed the project to proceed as CareSouth had maximized the amount of debt the project could support and the amount of equity that could be contributed.

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CareSouth pursued the project due to its other Baton Rouge facilities being at capacity and the need for additional healthcare options that provide accessible and affordable care to seniors. The need for additional healthcare facilities focused on geriatric care was identified as one of the community’s most pressing needs as 47% of surveyed seniors reported an inadequacy of geriatric care services. The East Baton Rouge Parish Community Health Assessment also outlined unequal health outcomes experienced by low-income residents and minorities. 

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The project directly addresses these challenges. The project is located in one of Baton Rouge’s most distressed census tracts. The population served by the Project will be almost entirely low-income and minority, which addresses the goal of increasing access to healthcare for these populations. CareSouth has historically successfully performed outreach in underserved areas to increase healthcare access for underserved groups. The health center will also offer behavioral health services to combat the mental health challenges facing the community. Lastly, the project will primarily serve seniors to address the unmet geriatric care needs of the community. CareSouth also offers a sliding fee discount program to provide uninsured patients with medical care at less than what it costs to provide the care. 

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CareSouth has received several awards and recognitions evidencing its ability to provide quality care to the population that the health center will serve. CareSouth has been accredited by the Joint Commission, which recognizes healthcare organizations for the quality of healthcare provided and patient safety. Additionally, CareSouth has also been accredited as a Patient-Centered Medical Home by the National Committee for Quality Assurance, which recognizes CareSouth for putting patient needs at the forefront of its healthcare delivery process. Further, CareSouth has received a silver recognition from the American Medical Association for its commitment to decreasing the number of Americans living with uncontrolled blood pressure.