Private/public partnership will make possible care for more than 20,000 people.
BRONX, N.Y., April 27, 2011 /PRNewswire-USNewswire/ -- More primary and specialty health care will soon be available to Bronx residents thanks to a partnership between the City, the State, the Federal government and four private financiers. Urban Health Plan, Inc. announced the construction of a new six-story, 54,000-square-foot facility that will help more than 20,000 South Bronx residents get and remain healthy. When completed, the new facility will substantially increase the number of annual primary care visits (medical, dental, vision and mental health) from roughly 165,000 to more than 300,000 by 2016.
"I wholeheartedly supported Urban Health Plan's application for American Recovery and Reinvestment Act funds because Urban knows how to provide quality, patient-centered care to the residents of the South Bronx," said Jose Serrano, representative of the 16th congressional district.
The expansion will enable UHP to:
- Triple the number of medical exam rooms from 55 to 169.
- Increase the number of dental operatories from 4 to 20.
- Expand specialty services and special programs such as geriatric, and HIV/AIDS.
- Expand its radiology services and provide mammography services.
The expanded capacity will help reduce waiting time for appointments; increase provider productivity and allow for enhanced services and care coordination.
Founded in 1974, Urban Health Plan offers a full spectrum of primary and specialty medical care for men, women and children including obstetrics and gynecology, pediatrics, adolescent medicine, adult primary care, urgent care, dental health and mental health. UHP serves residents in the Hunts Point, Mott Haven and Morrisania communities of the South Bronx, where there are substantially higher rates of diabetes, asthma, obesity, HIV, AIDS and mental health problems compared to the rest of New York City.
"As one of the largest federally qualified health centers in New York City, it is our responsibility to deliver quality, affordable health care that keeps residents healthy," said Paloma Hernandez, president and CEO. "We are committed to improving the health care status of the Bronx and this new expansion will allow us to do it," she added.
Financing for the project was made possible through the generous support of a grant from the American Recovery and Reinvestment Act, the New York City Council, Bronx Borough President Ruben Diaz, Jr., State Senator Ruben Diaz, new market tax credits and financing.
"Funding Urban Health Plan's expansion makes good economic and health sense," said Borough President Ruben Diaz. "We need health care providers that consistently think about their patients and constantly looking for ways of improving an individual's health; Urban does that and their services will help us to make the Bronx healthier," he added.
The combined $37.8 million New Markets Tax Credit (NMTC) transaction was structured with a $15 million allocation of NMTC from Enterprise, a national leader in community development and one of the largest allocatees of NMTC, a $15.7 million allocation of NMTC from Nonprofit Finance Fund and a $7.1 million allocation of NMTC from Stonehenge Community Development. Goldman Sachs provided $18 million in debt financing and $10.5 million in NMTC equity to the project.
"Our allocation of $15 million in New Markets Tax Credits for Urban Health Plan, and our partnership with the other funders of this project are true testaments to how communities can be transformed with the use of this innovative financing," said Joseph Wesolowski, senior vice president, Diversified Financial Products, Enterprise. "Once completed, the center will have the ability to expand its health care services and provide jobs to one of the most severely distressed congressional districts in the country."
"We are proud to finance this monumental project for Urban Health Plan," said Alicia Glen, Managing Director and Head of the Urban Investment Group at Goldman Sachs. "The new facility will be a major contributor to the ongoing revitalization of the South Bronx by creating jobs and expanding the availability and range of critical healthcare services for its residents."
"NMTC is a useful federal incentive to attract capital to low income communities, allowing projects such as this one to be financed," said Norah McVeigh, Managing Director, Nonprofit Finance Fund. "Access to health care is a critical need in these communities, and so helping existing and successful centers expand capacity is invaluable."
"At Stonehenge, we are very proud to support Urban Health Plan ("UHP") in its continued efforts to increase access to quality healthcare in one of our nation's most distressed communities. The project represents a powerful example of how community based leadership by UHP and an innovative use of the New Markets Tax Credit program on the part of Stonehenge and our colleagues in finance can drive positive community impact where it is most needed."
About Urban Health Plan, Inc.
Urban Health Plan, Inc. (UHP) is a network of federally qualified community health centers based in the South Bronx and Queens. Its mission is to improve the health status of underserved communities. In 2010, UHP served nearly 43,000 patients through almost 223,000 patient visits at four clinic sites, five school-based clinics, and four part-time sites. It has served the Hunts Point, Mott Haven, Morrisania and other surrounding communities of the Bronx since 1974.
As a federally qualified health center, UHP plays a vital role in providing health services to poor and medically underserved populations who often have difficulty accessing quality health care. Over the years, UHP has developed many health improvement initiatives including a nationally acclaimed asthma management program, programs in childhood obesity prevention, nutrition, HIV/AIDS care, and mental health services. UHP is one of the first community health centers in New York who fully uses electronic medical records and is currently using iris recognition technology to identify patients.
In 2006 UHP received the National Exemplary Award from the United States Environmental Protection Agency for its efforts to reduce asthma rates in Hunts Point. It has been named one of the top twenty-five Hispanic not-for-profits in the country by Hispanic Business Magazine for the past three years. In the summer of 2009, UHP was named one of the top twenty community health centers in the country by the Bureau of Primary Health Care and received the Nicholas E. Davies Award for Excellence from the Health Information Management Systems Society for excellence in the use of electronic health records. UHP was also awarded Level 3 recognition as a Physician Practice Connections – Patient-Centered Medical Home (PPC-PCMH) from the National Committee for Quality Assurance (NCQA). Level 3 recognition is the highest awarded by the NCQA. For more information on Urban Health Plan, Inc. visit www.urbanhealthplan.org
About Enterprise Community Investment, Inc.
Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For nearly 30 years, Enterprise has introduced neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested $10.6 billion in equity, grants and loans to help build or preserve more than 270,000 affordable rental and for-sale homes to create vital communities. Enterprise is currently investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.
About Nonprofit Finance Fund
Nonprofit Finance Fund (NFF) is a national leader in nonprofit, philanthropic and social enterprise finance. Founded in 1980, NFF provides loan financing, access to capital and direct advisory services that build the capacity and the financial health of nonprofits. A leading community development financial institution with over $80 million in assets, NFF has provided over $235 million in loans and access to additional financing via grants, tax credits and capital in support of over $1.3 billion in projects for thousands of nonprofit clients nationwide. NFF has a staff of more than 75 serving nonprofits nationally from offices in New York City, Philadelphia, Newark, New Jersey, Boston, Detroit, Washington, D.C., San Francisco, and Los Angeles. Please visit www.nonprofitfinancefund.org for more information.
About Stonehenge Community Development
Stonehenge Capital Company, LLC ("SCC") is a national specialty finance firm, with expertise in tax credit finance, structured finance, community development banking and private equity. SCC, through its subsidiary Stonehenge Community Development, LLC ("SCD"), is a CDE with a national service area and the recipient of five federal NMTC allocations totaling $420.5 million. SCD invests its NMTC allocations predominately in businesses and community service non-profits throughout the United States that are located in highly distressed census tracts and have significant impact on minority communities.
Contact: Robin West
718-589-2440 x 2802
SOURCE Urban Health Plan, Inc.