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Crescent Growth Capital, LLC

Crescent Growth Capital, LLC

Structuring project financing to incorporate tax credit equity.

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Terry Reilly Health Services
Nampa, ID
New Markets Tax Credits
Healthcare/Wellness
December 10, 2015

Forty-two years ago, Terry Reilly and his wife Rosie Delgadillo Reilly arranged with Dr. Clarence McIntyre for voluntary medical services for the migrant farm workers’ children who were being tutored at their home on Nampa’s north side. The experience helped to open the eyes of many local, regional, and national leaders to the plight of the large medically underserved population in the Treasure Valley area.  Federal Public Health Services grant resources and strong local advocacy enabled the Reilly’s to found Community Health Clinics, Inc. as a vehicle to provide healthcare services to those who need it most. Today, the Federally-Qualified Health Center operates under the dba Terry Reilly Health Services (“TRHS”), and operates with the Mission of providing affordable, comprehensive health care to everyone, especially those facing barriers elsewhere, such as the uninsured, migrant and seasonal farm workers, and the homeless.

Despite the fact that 60% of TRHS’ patients are at or below the poverty level, just 28% are on Medicare/Medicaid, a discrepancy indicative of a State with one of the most poorly-ranked Medicaid programs in the nation.  Nearly two-thirds of the 11,000 patients TRHS serves annually have no health insurance at all, presenting a significant fiscal challenge for the non-profit FQHC.  Despite this apparent imbalance between services provided and service revenue received, TRHS has continued to grow both its patient encounters and its range of services.

In late-2014, Terry Reilly Health Services engaged Crescent Growth Capital to facilitate a NMTC financing that would provide the necessary working capital to allow the Federally-Qualified Health Center (“FQHC”) to provide an ever-expanding range of health services to Idaho’s most indigent populations.  In December, 2015, TRHS and Crescent closed on a $6,000,000 NMTC facility, with allocation provided by Hampton Roads Ventures, and new markets tax credit investment provided by Capital One.  The working capital facility will provide the FQHC with some much-needed operating capital to continue to serve the people of Nampa, Boise, and beyond.

Nampa, ID

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