Tax Exempt Bonds
Established in 1996 in partnership with the City of New York and the Dormitory Authority of New York State, PCDC's Tax Exempt Bond program has leveraged an $80 million investment in project costs in New York City. This investment has created or preserved 555 permanent jobs and improved 187,000 square feet of space. Bond funds are typically used for large-scale projects that help modernize, expand or build new primary care facilities.
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| Summary of Terms | |
| Purpose: |
Financing for typical capital costs, including property acquisition, construction, renovation, professional services, equipment and fees. Up to 5% of each loan may be used for working capital and operating start-up costs. |
| Financing Size: |
Minimum of $6 million |
| Term: |
Up to 28 years |
| Interest Rate: |
Fixed at tax exempt rates |
| Repayment: | Monthly payments after the construction period |
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