RENO, Nev.--(BUSINESS WIRE)--Jun. 24, 2015--
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
“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
“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 Corporation
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. Bank
U.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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Source: U.S. Bank
U.S. Bank Corporate Communications
Shera Dalin, 314-335-3335