New Health Programs Association
Application Acceptance: January 14, 2022 Please note all information provided below is as of the date of the application submission with the exception of Loan Size & Closing Date.
Obligor: As a Federally Qualified Health Center, NH operates integrated primary care clinics across its service area. NH currently operates (7) medical clinics, (3) dental clinics, and (3) internal pharmacies. The clinics are spread across approximately 6,000 square miles in rural northeastern Washington. NH currently employs approximately 140 FTE employees across all of its locations. In Colville, NH currently operates a primary care medical facility with 20 staff and 12 exam rooms as well as a dental facility with 20 staff and 16 operatories.
Loan Size: $7,948,100
Description of Loan: Proceeds of the loan will be used to fund the construction of a new facility to replace NH’s Colville medical building. The new facility will house NH’s primary care medical, pharmacy and behavioral health services. The facility will also create a space for specialty services to be offered.
Interest Cost Savings: It is anticipated by NH that it will save approximately $734,666.10 in interest costs over traditional taxable interest rate financing. NEW Health will ensure that the estimated financial benefits resulting from the financing of its project through the Authority will be used for building, providing and utilization of modern, well-equipped and reasonably priced health care facilities to contribute to improving the overall quality of healthcare in Colville.
Purchaser: Key Government Finance
Closing Date: April 22, 2022