Completed Projects
Project Granite Hills Hospital
The Project:
Universal Health Services, Inc. (the “Sponsor”, “UHS”, or the “Company”) pursued New Markets Tax Credit NMTC allocation to finance the construction and environmental remediation for the operation of a 120-bed acute behavioral health hospital located at 1706 S. 68th Street, West Allis. The Sponsor had indicated there was a need of 23 child/adolescent beds, 254 adult beds, and 127 geriatric beds for a total of 404 additional behavioral health beds in the City of West Allis and the surrounding service area. patients.
Total Project Costs $14,500,000
FIRE NMTC Allocation $14,500,000
NMTC Investor US Bank CDC
Closing Date September 2019
Distress Criteria
Community Impacts
Jobs:
The project created 178 permanent jobs, all of which are quality and 57% are available to low-income community residents. Additionally, 116 temporary construction jobs were created.
Community Impacts:
UHS serves 13,000 patients, with a significant portion of which will be low-income individuals. UHS estimated that roughly 35% of the patients (4,550 patients) served will be supported by either Medicaid or have no funding source at all.
FIRE welcomes requests for NMTC’s throughout the year as we work to maintain an active pipeline of viable and potential projects throughout the region.