Enhanced Capital is pleased to provide financing for the Elko Community Health Center, a critical healthcare infrastructure project in Elko, Nevada. The project, developed by Community Health Development Partners (CHDP), LLC, was made possible through a federal New Markets Tax Credit (NMTC) allocation, allowing for the equipping and working capital to support a state-of-the-art healthcare campus in an economically distressed, rural area.
The Elko Community Health Center is part of a broader initiative to bring essential healthcare services to underserved rural communities. The campus will include multiple healthcare facilities, including a mental health clinic, a women’s health center, a cancer treatment center, an extended recovery unit, and medical offices.
The first phase of the project, an ambulatory surgery center and medical office building, has already opened to overwhelming community support. The second phase, supported by Enhanced Capital’s NMTC financing, will expand the center’s services, enabling Elko residents to access a wide range of specialty medical care within their community. Notably, the new facilities will allow over 500 local cancer patients to receive treatment without traveling hundreds of miles, improving patient outcomes and reducing financial strain.
The NMTC financing provided by Enhanced Capital will support the equipping and operations of the healthcare campus and the necessary working capital for marketing, community outreach, and provider recruitment. These efforts are vital to ensuring that Elko residents are aware of and utilize the specialty medical care services now available locally.
In addition to expanding access to healthcare, the project will create significant economic benefits for the Elko community. It is expected to generate 88 new quality permanent jobs, with an anticipated average wage of $42.62 per hour, including benefits. The project will also retain 38 existing jobs, further contributing to the local economy.
A key aspect of the project is its focus on serving low-income populations, including those covered by Medicaid, Medicare, or who are uninsured. Given the lower reimbursement rates associated with government-funded insurance, traditional financing options were not viable for this project. The NMTC allocation was essential in bridging this gap, allowing the project to move forward and ensuring its long-term viability.
Enhanced Capital is proud to partner with CHDP on this transformative project, which will have a lasting impact on the health and well-being of the Elko community. Upon full operation, the Elko Community Health Center is expected to handle 5,400 visits annually, serving 500 unique patients each year. Additionally, the project will provide no-cost patient navigation and referral services, helping to alleviate the financial burdens associated with serious health conditions like cancer.
