Primary Care Development Corporation Chosen as Administrator for $19.5 Million New York State Community Health Care Revolving Capital Fund

Categories: Investment, Press Release

NEW YORK – The Primary Care Development Corporation (PCDC) announced that it has been named the administrator for a new $19.5 million Community Health Care Revolving Capital Fund in New York State. The fund was established in the New York State 2015-16 Enacted Budget under the authority of the New York State Department of Health (NYSDOH) and Dormitory Authority of the State of New York (DASNY) to improve access to affordable capital to expand and improve preventive or primary care capacity.

As administrator, PCDC will manage the funds, select eligible projects, and provide affordable loans to Article 28 health centers, Article 31 mental health centers, and Article 32 substance abuse treatment centers in New York State to finance the construction, expansion, and renovation of community health care facilities.

“We are thrilled that DASNY and NYSDOH have selected PCDC to administer the Community Health Care Revolving Capital Fund,” said PCDC Chief Executive Officer Louise Cohen. “This initiative is an important step toward meeting the substantial expansion needs of community-based primary and behavioral health care providers in all corners of New York State, which is critical to successful health system and payment reform.”

Dormitory Authority of the State of New York President and CEO Gerrard P. Bushell said, “This public-private partnership exemplifies the resources New York State can leverage as we transform and strengthen health care across New York State. By establishing the Community Health Care Revolving Capital Fund we are providing low-cost resources to help create a world class health care system that promotes wellness, and contributes to the growth of New York State’s economy.”

Said Commissioner of Health Dr. Howard Zucker, “We are delighted to be working with our partners at DASNY and PCDC to make funds available to clinics and treatment centers that need financial assistance to expand. Primary care and preventive care are essential to our health care reform initiatives. These funds will help us pursue those goals.”

PCDC has long advocated for the fund in order to further its goal of catalyzing excellence in primary care. The establishment of this fund was made possible with the stalwart support and sponsorship of State Assemblyman Richard Gottfried and State Senator Kemp Hannon.

“New York’s health care system requires a strong foundation of primary care,” said New York State Assembly Health Committee Chair Richard N. Gottfried, who led the effort in the State Legislature to establish the Community Health Care Revolving Capital Fund. “This has taken years of work. It’s an important step toward healthy communities. DASNY and the Health Department were right to choose PCDC to administer the program, with its excellent track record supporting community health centers statewide.”

“I am proud to have sponsored the creation of the $19.5 million community loan fund,” said New York State Senator Kemp Hannon. “As the Chairman of the Senate Health Committee, I have worked closely with PCDC, which has a strong history of investing in community health centers, and now is a critical time to deploy additional funding to strengthen primary care throughout New York State. Keeping New Yorkers healthy will have the added benefit of strengthening our economy.”

Ms. Cohen continued, “The leadership of Governor Andrew Cuomo, Assembly Health Committee Chair Richard Gottfried and Senate Health Committee Chair Kemp Hannon, as well as our partnership with the Community Health Care Association of New York State (CHCANYS), have made this innovative program a reality.”

“Access to high quality mental health services is critical to create healthy communities and health equity across the state,” said Dr. Ann Sullivan, Commissioner, New York State Office of Mental Health. “By integrating mental health care with primary health care and substance use disorder treatment, New York State will bring additional and much-needed support to community-based behavioral health providers, in order to improve the overall wellness of New Yorkers.”

“This new community loan fund has a critical role to play in ensuring access to community-based health care services for the people of New York State,” said Mary Zelazny, CEO of Finger Lakes Community Health and Chair, Community Health Care Association of New York State. “The Primary Care Development Corporation has done a wonderful job of investing in and advocating for primary care in the State, and we are confident that they will continue to be a trusted collaborator in new projects through this new fund.”

“This new community loan fund has the potential to bring improvements for primary care and behavioral health providers in New York State, particularly in upstate cities such as Buffalo,” said L. Nathan Hare, President and CEO of Community Action Organization of Erie County, and a member of PCDC’s Board of Directors. “PCDC’s work has supported improved health care, and with this new $19.5 million fund, we expect that impact to grow and to support healthier communities especially in places which have not had sufficient investment.”

“This is a tremendous boost for integrated primary and behavioral health care in New York City and across the state,” said David Woodlock, President and CEO, Institute for Community Living. “PCDC has repeatedly proved that it has the commitment and the expertise to substantially support community behavioral health providers to improve health care delivery in underserved communities. These additional funds will enable PCDC to increase its reach to help many more providers successfully provide more innovative services for more New Yorkers.”

PCDC has a long history of lending in New York, dating back to its founding in 1993 by New York City Mayor David N. Dinkins. The organization has financed 115 projects valued at over $560 million in New York, and since 2013 has financed projects outside the state valued at $300 million.

About the Primary Care Development Corporation

Founded in 1993, the Primary Care Development Corporation is a nationally recognized nonprofit organization that catalyzes excellence in primary care through strategic community investment, capacity building, and policy initiatives to achieve health equity. To date, PCDC has helped over 1,000 primary care practices in 34 states to improve delivery of care by providing capital as well as training and technical assistance services. Since its founding, PCDC has leveraged over $800 million on projects that enhance capacity in low-income communities. In 2016, PCDC received a AAA+2 rating from Aeris, an independent community investment rating agency.

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