Our Vision and Mission

CHHS is a nationally recognized community development entity specializing in investing in healthcare businesses and healthcare infrastructure in America's most severely distressed communities. CHHS provides catalytic debt and equity investments to high-impact projects in medically underserved low-income communities throughout the U.S. Investments are prioritized based upon their ability to provide healthcare services to low-income individuals and families, and provide entry-level jobs and upward mobility via career ladder resources. These investments have reduced the overall cost burden of care on a national basis while addressing disparities in low-income communities by providing increased access to care and employment opportunities. Project funding provides for expansion of services, construction and improvement of new or existing space, investments in job training, workforce development and career ladder programs as well as computer systems and medical equipment.

Years of disinvestment in low income communities have led to non-existent, fractured, and sub-par healthcare services in many of America's most challenged communities. This is why the federal government established the New Market Tax Credit (NMTC) program to spur investment in these low-income communities. In addition some states also offer NMTC which can be paired with the federal tax credits.

Investments made by CHHS are orchestrated with local stakeholders, community resources and borrowers to address the specific job, workforce, healthcare, and wellness needs of the community. Projects must be located in areas which require access to health care services and are aligned with community plans and needs. Projects must demonstrate and commit to high levels of hiring of low income people and residents of low-income communities, and to sustained engagement with local workforce development organizations that help low income people qualify for entry level positions and advance to higher skill positions.

To date, CHHS received $183 MM of Federal NMTC allocation as well as $5 MM in state NMTC, which have been invested into multiple projects with total project costs of over $215 MM. These projects have created over 1,400 construction jobs and over 800 permanent positions. All of the projects are in highly distressed low-income communities. Most are in areas that have been federally designated as medically underserved and close to 70% are federally qualified health centers that are designed to predominately serve low income people and others without access to care. The make-up of the projects is split 50/50 between urban and rural communities. CHHS is continuously working to invest in projects that fit our profile.

PRESS RELEASE
Community Hospitality Healthcare Services
receives $50 million NMTC Award Marks 4th
Time as NMTC Allocatee

(Baltimore, MD) June 18, 2015: Community Hospitality Healthcare Services (CHHS) is proud to announce being awarded $50 million in New Markets Tax Credit (NMTC) authority from the U.S. Treasury's CDFI Fund.

The NMTC program allows CHHS to direct capital to underserved communities through financing high-impact, mission-focused healthcare projects. This is their fourth New Market Tax Credit award for a total of $233 million in allocations since the program's inception.

"CHHS exists to help improve health care and access to health services where it is most needed. NMTC has proven to be one of the most effective funding tools to make projects successful, to help achieve our mission, and to improve community healthcare outcomes for thousands of residents across the nation," said CHHS Chairman Ben Cirka.

CHHS is a nationally recognized community development entity specializing in investing in healthcare businesses and healthcare infrastructure in America's most severely distressed communities. CHHS provides catalytic debt and equity investments to high-impact projects in medically underserved low-income communities throughout the U.S. Since their first NMTC award in 2010, they have maintained and created more than 2,900 jobs and served more than 210,000 low income individuals.

The New Markets Tax Credit was enacted in 2000 in an effort to stimulate private investment and economic growth in low income urban neighborhoods and rural communities that lack access to the patient capital needed to support and grow businesses, create jobs, and sustain healthy local economies. The NMTC is a 39 percent federal tax credit, taken over seven years, on investments made in economically distressed communities.

Today due to NMTC, more than $70 billion is hard at work in underserved communities in all 50 states, the District of Columbia, and Puerto Rico. According to the CDFI Fund, since the program's inception, New Markets Tax Credit investments are estimated to have created nearly 600,000 new jobs and supported the construction of more than 160 million square feet of retail, manufacturing, and office space.

"Over its fifteen year history, the New Markets Tax Credit program has successfully fostered competition for private sector investment into low-income communities that lack access to the capital needed to support and grow businesses, create jobs, and sustain healthy local economies," said Annie Donovan, Director of the CDFI Fund, in a statement released this week in conjunction with the CDFI Fund award announcements.

PRESS RELEASE
New Markets Tax Credit program helps finance
Grady Hospital Emergency Department Expansion

(Atlanta, GA) - Grady Memorial Hospital will receive a net benefit of $7 million as part of New Markets Tax Credit (NMTC) financing for the expansion of its Emergency Department. This funding, combined with an additional $66 million in philanthropic contributions, will allow Grady to better meet the growing medical needs of Atlanta area residents.

"The NMTC allocations from SunTrust Community Development Enterprises (SunTrust), Community Hospitality Healthcare Services (CHHS) and Atlanta Emerging Markets, Inc. (AEMI) not only make a significant impact on our emergency department expansion, it will allow us to meet additional infrastructure needs because we are able to shift an equivalent amount of capital funding to other critical projects," said Mark Meyer, Chief Financial Officer, Grady Health System.

One of the nation's largest safety net hospitals, Grady is nationally recognized for its emergency and trauma services.

"As a healthcare focused New Markets Tax Credit (NMTC) allocatee, we are very proud to be supporting Grady's mission and its ability to expand its capacity to serve all patients regardless of their ability to pay," replied Ben Cirka of CHHS when asked about his entity's interest in participating in this landmark renovation.

The project, including development of a new 90,000 sf facility, will add new patient care space to the Emergency Department (ED) and renovate the existing ED. With an approximately 400 ED visits per day, Grady anticipates a 15 percent increase in demand over the next few years to more than 135,000 emergency visits per year.

"As the primary nexus for emergency care, Grady is a key cornerstone of our community and a perfect example of what we look for in using our resources," stated Dale Royal of AEMI, an affiliate of Invest Atlanta.

The new state-of-the-art facility is designed to optimize patient care, and at the same time enhance Grady's role as a leading academic medical center – serving as the primary teaching hospital for the Emory and Morehouse schools of Medicine.

"This project is of significant importance to the Atlanta area and the critical role Grady plays in emergency and trauma care. We are very pleased to be both a NMTC allocator and the investor in this most noteworthy transaction," commented Eric Rosen of SunTrust Community Capital.

The Emergency Department project is expected to be completed and ready for patients in late 2016.