SCHUMER LAUNCHES EFFORT TO GET MIDDLETOWN COMMUNITY HEALTH CENTER OFF THE GROUND -- RECENTLY ALLOCATED LOW INCOME INVESTMENT FUND COULD DELIVER $5 MILLION IN NEEDED CREDITS FOR PROJECT THAT WILL IMPROVE ACCESS TO PRIMARY CARE, PEDIATRICS OTHER LIFE-SAVING SERVICES
brbrSchumer Announces His Successful Efforts to Get $55 Million in New Markets Tax Credits for Low Income Investment Fund - The Group That Distributes Tax Credits to Local Projects like the Middletown Community Health CenterbrbrProposed Middletown Community Health Center Project Will Bring Pediatrics, Internal Medicine, OBGYN, Dentistry More Health Services Under One Roof In Former OW Railway Station Project Will Increase Patient Care Space Create New Health Care JobsbrbrSchumer: New Markets
Today, U.S. Senator Schumer pushed a plan to bring critical funding to the new Middletown Community Health Center, Inc. (MCHC), which would enhance and improve access to vital health services in Middletown by expanding primary care services and bringing their internal medicine, OB/GYN, pediatrics, dentistry and other services under one roof. Recently, the U.S. Treasury allocated $55 million from the New Markets Tax Credit (NMTC) program to the Low Income Investment Fund (LIIF)-whose mission is to bridge the gap between private markets and lowincome neighborhoods like Middletown. Therefore Schumer urged LIIF President Nancy Andrews to provide MCHC with the credits needed to move the project forward. The credits will generate the critical capital needed to begin construction on the new health center in the former O&W Railway Company Middletown Station, which the City of Middletown sold to MCHC.
Schumer highlighted that MCHC's mission to provide quality, affordable healthcare would get a significant boost in this newly renovated, modern facility that would double existing healthcare space to 60,000 square feet. The new community health center project is expected to pave the way for additional job creation through construction and permanent positions. Schumer fought successfully at year's end to extend the New Markets Tax Credit (NMTC), and urged the entities that distribute those credits, including the LIIF, to fund MCHC's application for $5 million in tax credits. With $55 million from the NMTC program now dispensed to the LIIF, Schumer asked LIIF President Nancy Andrews to approve MCHC's application for $5 million in credits that would help the project take off.
"Today I'm pleased to announce that we are one step closer to getting construction started at the Middletown Community Health Center, thanks to news that Low Income Investment Fund will receive $55 million in federal New Markets Tax Credits," said Schumer. "To put it simply: the Low Income Investment Fund is the middleman in getting these credits to projects like this one in Middletown. Now that the LIIF are winners, I'm urging that this community health center proposal be given the tax credits necessary to get the construction of this stateoftheart health center off the ground."
"The Middletown Community Health Center will dramatically improve access to vital health services in Middletown, expand primary care, pediatric, OB/GYN and other services, and will help create construction jobs in the process," Schumer continued. "And these tax credits are just what the doctor ordered for this plan."
Middletown Community Health Center is a nonprofit community based organization that is committed to providing high quality, comprehensive and affordable health care to all members of the community. When completed, Middletown Community Health Center will be a new stateoftheart healthcare facility, doubling MCHC's existing Middletown location size. This expansion will finally allow all of MCHCs' services, which are disbursed throughout the region, to be in one, newly renovated facility. This will allow them to share resources and expertise, and creates a onestopshop for affordable healthcare in the region. Their services include dentistry, HIV/AIDS, primary care, obstetrics and pediatrics. In addition, MCHC provides pediatric and adult primary care to the students and adults at the Orange Ulster Board of Cooperative Educational Services (BOCES).
On January 3, 2013, President Obama signed the American Taxpayer Relief Act of 2012, which included an extension of the New Markets Tax Credit Program for 2012 and 2013. Schumer was critical in extending this program. The tax credit allocation authority is $3.5 billion for each year. Schumer today urged Low Income Investment Fund (LIIF), which recently received a federal allocation of these credits from the Department of Treasury, to prioritize Middletown Community Health Centers' project in their selection process.
Schumer fought to extend the New Markets Tax Credit program in the yearend fiscal cliff deal, to help leverage private investment and jumpstart construction efforts in communities like Middletown. The NMTC program was established in 2000 in order to spur new or increased business investments into operating businesses and real estate projects in eligible urban communities. In exchange for investing in qualifying projects, individual investors and corporations can receive a tax credit on their federal income tax return, creating an incentive for individuals to invest. The Middletown Community Health Center is seeking approximately $5 million in New Markets Tax Credits from the LIIF to begin the construction process and potentially free millions more in financing.
In his letter to LIIF President Nancy Andrews, Schumer stated that the NMTC allocation is an integral component for success in MCHC's plans for a new "pathway to health" initiative. In partnership with the city, they are relocating to the historic O&W Railway Company Middletown Station Building. The first phase of building restoration has already begun, with an ultimate goal of bringing all of their Middletown locations under one roof in a state of the art "green" healthcare facility. The new location will double the existing treatment space to 60,000 square feet and centralize primary care services.
LIIF is a nonforprofit organization whose mission is dedicated to creating pathways of opportunity for lowincome people and communities by bridging gaps between private capital markets and lowincome neighborhoods. Schumer stated that MCHC's plans fit squarely with the mission of LIIF, and is similar to LIIF's previous investments. LIIF has provided vital funding for projects throughout New York State, including a $700,000 construction loan to St. Nick's Alliance that enabled the construction of eight affordable housing units in New York City, and a loan to Troy Preparatory Charter School (Troy Prep) to create a new campus in Troy, New York for its elementary and middle schools. With LIIF's allocation of the funding, the construction of a new facility will be in sight.
A copy of Sen. Schumer's letter to Nancy Andrews, President of the Low Income Investment Fund appears below:
Dear Ms. Andrews,
Now that the Low Income Investment Fund (LIIF) has received $55 million in New Markets Tax Credits (NMTC), I write today to issue my support and urge your approval of a $5 million application submitted to you by Middletown Community Health Centers, Inc (MCHC). This project is critical for the healthcare needs of the Orange County community.
MCHC is a 30yearold nonprofit communitybased organization providing highquality, comprehensive, affordable health care services. Their services include dentistry, HIV/AIDS, primary care, obstetrics and pediatrics. In addition, MCHC provides pediatric and adult primary care to the students and adults at the Orange Ulster Board of Cooperative Educational Services (BOCES).
The LIIF allocation is an integral component for success in their exciting new "pathway to health" initiative. In partnership with the city, they are relocating to the historic O&W Railway Company Middletown Station Building. The first phase of building restoration has already begun, with an ultimate goal of bringing all of their Middletown locations under one roof in a state of the art "green" healthcare facility. The new location will double the existing treatment space to 60,000 square feet and centralize primary care services.
This organization's commitment to providing primary and preventative healthcare to all residents, regardless of their ability to pay, has made MCHC an invaluable partner in Orange County. I am very proud to support MCHC's application for an NMTC allocation and appreciate your attention to this request. Please do not hesitate to contact me should you require any further information.
U.S. Senator Charles E. Schumer