Community Health of Central Washington
Application Acceptance: March 15, 2019. Please note all information provided below is as of the date of the application submission with the exception of Loan Size & Closing Date.
Obligor: Community Health of Central Washington (CHCW) is a Community/Migrant/Teaching Health Center which is National Committee for Quality Assurances (NCQA) recognized as a Level 3 Patient-centered medical home (PCMH). CHCW provides medical, dental, behavioral health, pharmacy, and enabling services for underserved and underinsured patients served in six clinics in Kittitas and Yakima Counties. CHCW also provides primary care service as well as dental services in ten long term care facilities in Yakima County and in two facilities in Kittitas County.
Loan Size: $4,000,000
Description of Loan: Proceeds of the loan will be used to finance the acquisition, remodeling, and equipping of a facility located at 401 Tieton Dr. Yakima, WA and to pay costs of issuance. The facility will be utilized to provide additional space for support staff, population health, Connect, Information System technology, a centralized call center and patients account team.
Interest Cost Savings: It is anticipated by CHCW that it will save approximately $247,053 in interest costs over traditional taxable interest rate financing over the term of the loan. The formation of CHCW was a collaborative effort between the local hospitals in 1992 to address the need for family medicine providers through a teaching center focusing on the underserved and underinsured. That has been and will continue to be the mission of CHCW. The mission statement: “provides access to quality healthcare through service and education” continue to guide the organization to reach out to the population and meet the most basic of healthcare needs. CHCW’s Managed Care, Medicaid, Medicare and uninsured population is 78.2%. It is through their ability to obtain tax exempt debt that they are able to serve these populations. Without these saving it would make it difficult to achieve their mission.
Purchaser: Key Government Finance
Closing Date: July 1, 2019