PCDC’s First Financing in Georgia to Help Expand Primary Care for Children
The Primary Care Development Corporation (PCDC) today announced the completion of its first financing in Georgia: a $13 million-project partnership that will dramatically expand behavioral health services and integrated primary care, particularly for children.
Headquartered in Atlanta, CHRIS 180 is a social services organization serving six counties in Georgia by providing behavioral health services for children and families who have experienced trauma. Combining new construction and renovation of existing facilities, the project will transform CHRIS 180’s facilities to include fully operational medical and dental services, in partnership with MercyCare, a local federally qualified health center (FQHC).
The expansion, which will bring together primary care and behavioral health services under one roof, encompasses various enhancements:
“CHRIS 180 is thrilled about this expansion which will allow us to provide trauma-informed integrated care, training, and support services to our community,” said Kathy Colbenson, LMFT, President and CEO of CHRIS 180. “We are looking forward to our next chapter and the ability to holistically meet the needs of many more people and help them succeed in changing the direction of their lives through services in state-of-the-art facilities and homes.”
The timing and location of this project are critical. Georgia ranks 34th in the country for overall mental health capacity, with 88 percent of youth with severe depression unable to access consistent mental health services. This disparity is linked to a shortage of child psychiatrists — only 7.5 providers per 100,000 children practice statewide.
CHRIS 180 is the only organization in the Atlanta area that specializes in trauma-informed care for the rehabilitation and treatment of children and families with acute behavioral health diagnoses. Additionally, CHRIS 180 provides continuing education training to licensed behavioral health professionals, 25 percent of whom are expected to access services once the larger training hub is opened.
PCDC financed the project in partnership with Nonprofit Finance Fund (NFF), SunTrust Community Capital, and Shah Capital. PCDC provided $5.5 million in New Markets Tax Credits (NMTC) allocation with NFF providing $7.5 million in NMTC. SunTrust Community Capital is the NMTC investor and Shah Capital is CHRIS 180’s financing consultant.
“CHRIS 180 has had a tremendous impact on the Atlanta community, and this growth will allow them to increase the critical services they can deliver,” said Anne Dyjak, PCDC Managing Director. “PCDC is proud to support the expansion of services in Georgia by financing this innovative and necessary project. It has been our honor to work with CHRIS 180 to bring the people of Atlanta the quality care they need and deserve.”
“It is increasingly important to connect the many factors that impact the health of people and their communities, which is precisely what CHRIS 180 will accomplish with this project,” said Norah McVeigh, Managing Director of Financial Services at Nonprofit Finance Fund. “We are proud to support them with NMTC financing as they expand their facilities and programs to bring more services to more people.”
“The need for more behavioral health care facilities and service providers in Georgia is acute,” said Adam Oates, president of SunTrust Community Capital. “This new project from Primary Care Development Corporation and CHRIS 180 represents meaningful progress toward addressing this problem. Our team at SunTrust Community Capital is tremendously proud that we could help turn their big idea into a real place where children can get the care they need.”
“We would like to extend a thank you to Primary Care Development Corporation, Nonprofit Finance Fund, SunTrust Community Capital, and Shah Capital for their financing and partnership during this exciting process,” Colbenson said. “We are proud of the important work we have accomplished together, and are excited about CHRIS 180’s impact in the years to come.”
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About CHRIS 180
CHRIS 180 saves, serves, and protects children, young adults, and families who have experienced trauma to help them change the direction of their lives. The mission of CHRIS 180 is to heal children, strengthen families, and build community through mental health counseling, training, providing safe housing, and real-world skill building.
CHRIS 180 was established in 1981, operating the first specialized group homes in Georgia for children and youth with behavioral/emotional challenges and who could not thrive in foster homes. Over the last three decades, it has expanded through operating a variety of programs and facilities that strengthen families: a permanent supportive housing apartment complex to address the needs of homeless youth and youth aging out of foster care and providing life skills; targeting outreach to underserved minorities including LGBTQ youth and sexually exploited youth; and creating a counseling center for the community to provide behavioral health services through trauma informed care as well as offering specialized training to third parties in trauma, child abuse awareness/prevention, and play therapy. CHRIS 180’s award-winning leadership and programs have transformed more than 60,000 lives, and CHRIS 180 is an acknowledged pioneer among mental health, child advocacy, and family welfare providers.
CHRIS 180 believes that potential is a right, not a privilege and we are dedicated to the children, young adults, and families we serve to unlock their potential happiness, health and success despite challenging circumstances, often beyond their control.
About Primary Care Development Corporation
Primary Care Development Corporation (PCDC) is a nationally recognized nonprofit and Community Development Financial Institution (CDFI) whose mission is to expand access to primary care in underserved communities. PCDC currently achieves this mission through three programs: capital financing to build and expand primary care infrastructure; technical assistance to help primary care practices improve their performance and operate more efficiently; and public advocacy to support policies that sustain and expand primary care. Since our founding 25 years ago, PCDC has invested $990 million in low-income communities, and is currently managing $247 million in assets. PCDC began in 1993 in New York, and now operates nationally, providing capital financing and technical assistance in states and communities throughout the US, and playing an increasingly important role in shaping national policy related to primary care.
About Nonprofit Finance Fund
Nonprofit Finance Fund® (NFF®) advances missions and social progress in underserved communities through financing, consulting, partnerships, and knowledge-sharing that empower leaders, organizations, and ideas. A leading Community Development Financial Institution (CDFI), NFF currently manages over $310 million. Since 1980, we have provided almost $700 million in financing and access to additional capital in support of over $2.3 billion in projects for thousands of organizations nationwide.
About SunTrust Banks, Inc.
SunTrust Banks, Inc. (NYSE: STI) is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of December 31, 2017, SunTrust had total assets of $206 billion and total deposits of $161 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Join the movement at onUp.com.