Slide 1

PCDC – a Healthcare CDFI

Financial Innovation RoundtableTom Manning, PCDC

Washington, DC - March 2014

Slide 2

PCDC Background• Nonprofit CDFI formed in 1993

• Mission – Similar to that of FQHCs:– To expand and transform primary care in underserved

communities to improve health outcomes, lower health costs and reduce disparities.

• Nearly $500 million invested in 100+ primary care projects in LICs serving over 700,000 individuals

• 4,600 jobs created/retained in low-income communities.

Slide 3

What’s Behind a Health Center Project Project: Replacement for Addabbo Health Center; Queens, NY

•Services closely linked to nearby public housing•Success of project has helped Addabbo build from 1 site to 5; 12,000 patients to 50,000;become financially strong.

PCDC Loans:$1.4 million - Pre-Construction Loan$3.6 million - Subord. Const. Loan$3.9 million - 15-yr. Fixed LoanOther Sources:$1.5 million - HOPE VI$6.5 million - Other State, Fed, Local$3.9 million – Bank Senior Const. Loan$250,000 – Private Foundations

Slide 4

Building to Save At-Risk Services

• Created in response to hospital closing

• Provides medical, dental, mental health care to 30,000 patients

• Includes medical & dental residencies, training new doctors for HPSAs & MUAs

• Services & residencies linked to local schools, housing & social service agencies

• Financing included $30 million NMTC credits; bridge loans to grants; $8.7 million in NMTC equity

Slide 5

What’s Next?• $130MM national fund – Collaborative for

Healthy Communities• Expansion Without Construction– Operational improvements to improve efficiency,

expand services in existing footprint– Triggers capital need to finance growth

• Pay For Success Financing– PCDC selected by NYS to finance $10MM diabetes

prevention initiative– Non-medical intervention to maintain health

Slide 6

Tom ManningManaging Director, Capital Investment

tmanning@pcdc.org