The Novogradac Journal of Tax Credits has presented FCI with the “2024 Community Development QLICI of the Year Award” in the Non-Metro category for its innovative use of New Markets Tax Credit (NMTC) financing to provide $12.1MM in funding for the construction of the Lac Courte Oreilles Community Health Center located in Hayward, WI.
Addressing a critical need for the rural tribal population
American Indian populations have long experienced disproportionately high rates of disease, poverty, and discrimination in delivery of health services. The current Lac Courte Oreilles Community Health Center (LCOCHC) facilities have been unable to meet the needs of residents, forcing many tribal members to seek care in other areas, typically in Eau Claire, WI, which is over 100 miles south of the reservation.
The new state-of-the-art LCOCHC will provide culturally sensitive, comprehensive, holistic care to residents of the Lac Courte Oreilles Indian Reservation and LCO member households in Sawyer County. Services will include medical, dental, pharmacy, behavioral health, community health, recovery, chiropractic care, lab imaging, and administrative services. The facility is expected to increase the amount of annual patient visits by 98%, totaling over 38,000 visits for over 9,500 patients annually – 67% of which will be low-income persons and 85% are expected to be members of the tribal community. The new center is set to be completed by February 2025.
The 2024 QLICI of the Year Award
FCI was recently presented with the 2024 Community Development QLICI of the Year Award in the Non-Metro category by the Novogradac Journal of Tax Credits for their involvement in the LCOCHC deal, providing $12.1MM in financing to support the construction of the facility. This award recognizes Community Development Entities (CDEs) like FCI who are involved in a QLICI (“Qualified Low-Income Community Investment”) for an outstanding property or business.
“The goal of NMTCs is to incentivize development and economic growth in distressed communities,” said Greg Clements, chair of the Novogradac 2024 Spring New Markets Tax Credit Conference and a partner in Novogradac’s Dover, Ohio, office. “This year’s winners highlight how CDEs can target their allocation of credits to create tangible benefits to community members and businesses in ways that might otherwise be impossible.”
FCI COO Rob Beach attended the conference in Washington, DC on June 6th to accept the award on FCI’s behalf. He states, “I’m honored to accept this award on behalf of FCI. Community facilities play a critical role in the communities they serve, providing critical services to populations that need them most.”
This award is a testament to FCI’s commitment to supporting underserved communities and fostering economic development through innovative financing solutions. We are honored to play a role in bringing this vital healthcare center to the Lac Courte Oreilles community!
