NMTC Case Study for Faith Family Medical Center

ProjectFaith Family Medical Center (FFMC) began in 1999 as an outreach mission for two Nashville based doctors dedicated to providing primary medical care to uninsured patients. It has grown from that small clinic to a full service medical center providing the best comprehensive care for working uninsured and underinsured Tennesseans. In addition to the uninsured nature of the patients, The project involves FFMC acquiring additional property adjacent to their current location and constructing a 17,000 SF medical center. The new space will relieve overcrowding in their current facility plus providing much needed room for growth in the coming years. With the use of the NMTC subsidy, FFMC was able to build a building for the future rather than just the immediate need. Based the size of the building and current needs, FFMC will be able to lease a portion of the new space to other similarly aligned, non-profit health care providers. Even in their overcrowded current space, FFMC is able to serve over 2,600 unique patients (95% uninsured) with over 8,900 total visits annually. With the new facility, over the NMTC compliance period, FFMC will be able to expand services to 4,300 unique patients with an increase to 15,000 total visits annually. The FinancingThe approximately $9.5 million dollar project was financed utilizing bridge debt from The Reinvestment Fund to support a $7 million capital campaign used through a selfleveraged structure, NMTC equity from SunTrust Community Capital and $8.5 million of New Markets Tax Credit Allocation provided by The Reinvestment Fund, Inc.
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