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RALEIGH, NC, September 03, 2022 /24-7PressRelease/ -- CAHEC New Markets, a New Markets Tax Credit (NMTC) Community Development Entity, has provided $12.5 million to Grady Health System for the expansion and renovation of the Ponce De Leon Center HIV/AIDS clinic. Grady Memorial Hospital is a safety-net hospital that focuses on serving low-income communities, supplying approximately 65% of its annual care to patients who are either uninsured or covered by Medicaid.
The current facility has provided front-line care and support services to individuals living with HIV/AIDS in the Atlanta area since its opening during the HIV/AIDS crisis in 1993. The renovation will focus on the center's five operational floors and add nearly 20,000 square feet of space, allowing the hospital to modernize treatment options. The new center will increase the hospital's patient capacity in a state with one of the highest rates of HIV/AIDS cases. Upon completion, the renovated facility will be able to administer improved medical care for patients, including primary care, dental, infusion services, behavioral health, and treatment coordination.
"We are already hearing how the improvements to the Ponce Center are positively impacting our patients," said Shannon Sale, chief strategy officer of Grady Health System. "Not only does the renovation greatly improve the healing environment, but it will also allow us to reach more people in need of our services. We are grateful for the investments for our community."
"The Ponce De Leon Center has long been a leader and innovator in treating and preventing HIV/AIDs," says Brian Oxford, CAHEC's Manager, Community Capital. "CAHEC New Markets is proud to provide New Markets Tax Credit financing to support the renovation and expansion of the Ponce De Leon Center which will allow it to continue making positive improvements in health and wellness for a vulnerable population."
About CAHEC New Markets
CAHEC New Markets, LLC, is a certified Community Development Entity that raises capital through the New Markets Tax Credit program for lending to qualified businesses in low-income communities. CAHEC New Markets uses this capital to finance community facility projects that create and improve access to jobs, educational opportunities, community goods, and services, promote health and wellness, and stimulate community development in highly distressed low-income communities. To learn more about the work being done by CAHEC New Markets, visit their website.
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