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NMTC Opportunity: Thomasville Regional Medical Center

Asset ClassNew Market Tax Credit, Rural, Health Facility, Commercial Real Estate, Community Facilities - Healthcare
GeographyAlabama
CityThomasville, AL
Amount$30,000,000
Financing TypeNMTC Allocation
Interest Areas
Equity Investment
Health
Minority

The Thomasville Regional Medical Center (“TRMC”) in partnership with the City of Thomasville requests a $30 million QEI to develop a $44.3 million new hospital and medical office building in rural Thomasville, Alabama (the “Project”). This private public partnership project will dramatically expand healthcare services in a severely distressed non-metropolitan census tract that lost its previous hospital in 2011 leaving the region’s residents to travel as far as 100 miles for healthcare services. The Project will be a 29-bed acute care hospital and anchor facility for a 40-acre Medical Park development.

The newly constructed facility will contain ancillary services, patient diagnostic and treatment spaces, central support functions, and acute care inpatient beds. The Project will also include a Medical Office Building (“MOB”) for Physicians and Outpatient Services along with several non-clinical hospital departments. The new TRMC will be able to provide patient-centric services desired by the community and should be financially viable for years to come.

Community Impacts:
• Jobs: 109 permenant full time employees with substantive benefits and 255 temporary construction jobs. TRMC management plans to hire previously trained medical staff that are residents of Clarke County, as well as graduates of the nursing school and medical training program located in Thomasville, Alabama.
• Healthcare Services to a Medically Underserved Population in a Rural Area: TRMC projects 47,176 patient visits and 3,608 admissions and outpatient surgeries. The region (Clarke, Marengo, and Wilcox counties) also have an African American population of 44.2%, 51.4%, and 71.8% respectively. This ethnic group possesses unique healthcare needs and historically has been underserved in treating its medical needs.
• Location: Non-Metropolitan Census Tract #01025957602, Clarke County, Alabama – 22.5% poverty rate; 100.0% of benchmarked median family income; 8.1% unemployment rate (2006-2010 census data). Medically Underserved Population and Delta Regional Authority Distressed County.

For more information and details on this project, click on the contact button to email the NMTC consultant.

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CDFI Fund New Markets Tax Credit Eligibility

CDFI Fund Investment Areas