CAHEC New Markets is a certified Community Development Entity that raises capital through the New Markets Tax Credit program to finance community facility projects that aim to create jobs, improve access to educational opportunities, health services, and other critically needed community services and stimulate community expansion in high distress low-income communities.

The U.S. Department of the Treasury’s CDFI Fund awarded CAHEC New Markets $50 million of New Markets Tax Credit (NMTC) allocation authority under the CY 2020 allocation round. In total, CAHEC New Markets has been awarded $220 million of NMTC allocation, of which, $190.5 million has been invested in community development projects. Over the past year, CAHEC New Markets invested in two impactful community projects. A description of each project can be found below.

D.C. Central Kitchen Michael R. Klein Center for Jobs and Justice

DC Central Kitchen (DCCK) is the nation’s first and leading nonprofit community kitchen that uses food to build and strengthen communities by providing hands-on culinary job training for individuals facing high barriers to employment while creating living-wage jobs and bringing nutritious food where it is needed most within the community. CAHEC New Markets provided $8 million of New Markets Tax Credit allocation to help finance the construction of the organization’s new Michael R. Klein Center for Jobs and Justice. This 36,000 square foot, state-of-the-art facility will be a hub for the communities it serves, providing opportunities for DC’s young people, long-time residents, and returning citizens.

The Klein Center for Jobs & Justice will allow D.C. Central Kitchen to increase its job training capacity by 150% to 250 participants annually, increase the production of healthy school and community meals served to over 4,000,000 annually, as well as create 50 new quality jobs.The facility will include a dedicated volunteer workspace and meeting facilities, as well as the nonprofit’s third social enterprise quick-service café offering on-the-job training to Culinary Job Training (CJT) students and full-time living wage jobs for its graduates.

“CAHEC New Markets provides New Markets Tax Credit financing to organizations like DC Central Kitchen that create new opportunities and positive change in their communities,” says Brian Oxford CAHEC’s Manager, Community Capital. “DC Central Kitchen’s innovative social enterprise model aligns directly with our goals by magnifying the social and economic impacts beyond the individuals receiving Culinary Job Training to the broader community that has improved access to healthy foods and local businesses can thrive with a pipeline of quality staff.”

To learn more about the Michael R. Klein Center for Jobs and Justice click here and about DC Central Kitchen click here.

Grady Health System Ponce De Leon Center

CAHEC New Markets provided $12.5 million to the Grady Health System for the expansion and renovation of the Ponce De Leon Center HIV/AIDS clinic. Part of the Grady Health System, Grady Memorial Hospital, is one of the few super-safety-net hospitals in the country that focuses on serving low-income communities, supplying approximately 65% of its annual care to patients who are either uninsured or covered by Medicaid.

The current facility has provided front-line care and support services to individuals living with HIV/AIDS since its opening during the HIV/AIDS crisis in 1993. The renovation will focus on the center’s five operational floors and add nearly 20,000 square feet of space, allowing the hospital to modernize treatment options. The new center will increase the hospital’s patient capacity in a state with one of the highest rates of HIV/AIDS cases. Upon completion, the renovated facility will be able to administer improved medical care for patients, including primary care, dental, infusion services, behavioral health, and treatment coordination.

“The Ponce De Leon Center has long been a leader and innovator in treating and preventing HIV/AIDs,” says Brian Oxford, CAHEC’s Manager, Community Capital. “CAHEC New Markets is proud to provide New Markets Tax Credit financing to support the renovation and expansion of the Ponce De Leon Center which will allow it to continue making positive improvements in health and wellness for a vulnerable population.

To learn more about the Grady Ponce De Leon Center click here.