New Orleans Medical Clinic (FQHC) - 2500 Louisiana New Orleans

Sponsor: Harmony Neighborhood Development

Type of QALICB: New Orleans Medical Clinic (FQHC)

Owner: Harmony Neighborhood Development

City and State: New Orleans, LA

Contact Person: Michael Hellier

Phone: 5045243919

Contact Email: [email protected]

Allocation Amount Requested: $2,700,000 to $3,500,000

Brief Description of QALICB:

In an effort to integrate a health focus into our mission, Harmony is in discussions with First NBC CDC to partner on a development to bring a Health Clinic to the corner of Louisiana and Freret. The Bio-Medical employment opportunities have been well documented due to an aging population and health concerns in our neighborhoods. Harmony is responding by exploring opportunities to bring a much needed clinic to a neighborhood with significant chronic health issues and a lack of health providers. The clinic will offer primary care, chronic illness management, pediatric services, women s health services, behavioral health services, dental care, and eye care. The clinic is also committed to ensuring affordability for all patients through Medicaid enrollment and Affordable Care Act enrollment. Furthermore, the clinic will integrate themselves into this community through their Neighborhood Health Partnership Program and Homeless Outreach Program. In additi  on to th  e transformative medical benefits, this development will also create accessible job opportunities for a neighborhood with a high unemployment rate.
 
Census Tract:
 
22071010200
 
Demographics:
 
2010 5 Year ACS
 
Poverty Rate-27.7
Median Income as & of AMI-63.05%
Ratio of Local to US Unemployment Rate-24.4/7.9
 
2012 5 Year ACS
 
Poverty Rate-37.6
Median Income as & of AMI-54.98% (26,078/47,429) Ratio of Local to US Unemployment Rate-27.5/9.3
 
Other Metrics:
 

  • SBA-designated HUB Zone 
  • Federally designated medically underserved areas 
  • State or local TIF district, enterprise zone programs, other state/local programs for economically distressed areas 
  • Food desert designated by the Health Foods Financing Initiative definition (USDA-ERS) 
  • Adjacent to Harmony Oaks HOPE VI Redevelopment

But For Statement:

The property at 2500 Louisiana has been vacant since 2005, continually deteriorating and presenting a dangerous and un-appealing condition for the surrounding community. It has also been for-sale during this time, but has not received any tangible investment or interest. While historic tax credits are available here, it is clear that the development would not take place without NMTC financing. Without this structure potential investors would not be interested in the deal, evidenced by the lack of development on similar sites within the census tract and by the long-term marketing period the property has experienced. The development team is exhausting all funding strategies, but it is evident  that without the net benefit anticipated from the NMTC transaction, the redevelopment would not be able to move forward.