Impact
The village center of Enosburg Falls is federally classified as a medically underserved area. The new facility moved NOTCH from a rented basement in an old garage to a larger, street side clinic in the center of the village. The new highly visible, larger location enables better access to affordable primary care for all, an increase in the number of Medicaid patients served, and new Saturday clinic hours. As a result, the Health Center has created 2.5 new full-time equivalent medical positions while retaining its existing 7.5 full-time equivalent staff. Furthermore, the redevelopment of the site remediated a state prioritized, contaminated Brownfield site.
Gap and Investment
NOTCH was the recipient of a US Department of Health and Human Services Health Resources and Services Administration (HRSA) grant in the amount of $850,000 for the purchase, rehabilitation, occupancy and operation of the new facility in Enosburg Falls. The grant along with $750,000 of NOTCH’s own funds, however, was not able to fully fund the nearly $2 million development costs. Vermont Rural Ventures combined these two sources with equity from its New Markets Tax Credits to fully fund the new Enosburg Health Center. Smaller projects like the Enosburg Health Center demonstrate Vermont Rural Ventures’ commitment to bring the New Markets Tax Credit program to disadvantaged communities and groups which otherwise lack access to capital. The below market rate financing from Vermont Rural Ventures and flexible terms saves NOTCH at least $25,000 annually in debt service payments than if the gap was financed with traditional debt.