U.S. Bank Invests $5.6 Million to Build New Reno Health Clinic
June 24 2015 - 12:00PM
Business Wire
U.S. Bank is investing $5.6 million in the construction of a
new, nearly $20 million medical facility for the Northern Nevada
HOPES clinic that will care for an additional 400 patients a month,
including for the first time, primary pediatric care.
The clinic, which is operating out of a modular building at 580
W. Fifth St., is under construction now and is slated to be
completed by December. The new 37,500-square-foot building will
span three stories and be named for its benefactor “The Stacie
Mathewson Community Wellness Center.”
“The new HOPES clinic will be Reno’s first integrated care
facility, where patients will have access to a wide range of
medical and wellness services in one location,” said HOPES CEO
Sharon Chamberlain.
It will become a “medical home” for 10,000 patients a year, the
vast majority of whom are low-income or homeless individuals. A
medical home is akin to a traditional physician’s office where all
non-urgent care begins and is coordinated.
HOPES performed a needs assessment of its area downtown and
found that there is a tremendous shortage of medical providers
(3,952 patients for every provider).
“Northern Nevada Hopes is vital to so many in the greater Reno
area who struggle to access comprehensive and quality health care,”
said Maria Bustria-Glickman, vice president of U.S. Bancorp
Community Development Corporation. “U.S. Bank is proud to be part
of the team that helped make this new clinic and expanded patient
services possible for an organization that shares our mission of
putting people first.”
The new space will house 42 exam rooms and allow HOPES to
provide primary care for children for the first time. The site will
also include radiology and diagnostic labs, infectious disease
center, wellness center, pharmacy, community meeting room,
basketball court to encourage fitness and a combination community
vegetable and HIV-memorial garden.
The clinic expansion will generate 105 construction jobs, 43 new
permanent positions and retain 52 existing jobs.
Stonehenge Community Development, Enhanced Community Development
and Clearinghouse Community Development Financial Institution each
provided state and federal New Markets Tax Credits to the
project.
“Thanks to the support of U.S. Bank and New Markets Tax Credit
partners (Enhanced Community Development, AI Wainwright, Stonehenge
Community Development, and Clearinghouse CDFI), HOPES was able to
bridge a significant budget gap through the NMTC program,”
Chamberlain said. “U.S. Bank’s participation helped make this
building project a reality, and it will help HOPES serve 400 more
patients a month.”
U.S. Bank has invested $17 million in four projects in Nevada
since late 2014 and anticipates additional investments this year.
These developments will generate nearly 300 construction jobs and
create or retain 225 permanent jobs.
About U.S. Bancorp Community Development CorporationWith
nearly $14.5 billion in managed assets as of March 31, 2015, U.S.
Bancorp Community Development Corporation, a subsidiary of U.S.
Bank, provides innovative financing solutions for community
development projects across the country using state and federally
sponsored tax credit programs. USBCDC's commitments provide capital
investment to areas that need it the most and have contributed to
the creation of new jobs, the rehabilitation of historic buildings,
the construction of needed affordable and market-rate homes, the
development of renewable energy facilities, and the generation of
commercial economic activity in underserved communities. Visit
USBCDC on the web at www.usbank.com/cdc.
About U.S. BankU.S. Bancorp (NYSE: USB), with $410
billion in assets as of March 31, 2015, is the parent company of
U.S. Bank National Association, the fifth largest commercial bank
in the United States. The company operates 3,176 banking offices in
25 states and 5,022 ATMs and provides a comprehensive line of
banking, brokerage, insurance, investment, mortgage, trust and
payment services products to consumers, businesses and
institutions. Visit U.S. Bancorp on the web at www.usbank.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150624006039/en/
U.S. Bank Corporate CommunicationsShera Dalin,
314-335-3335shera.dalin@usbank.com@usbank_news
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