U.S. Bank invests $3.4 million to build new health clinic in Colorado

December 21, 2017 | GET MORE : Corporate

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Clinica Family Health will serve 4,000 more patients a year.

Clinica Family Health is receiving a $3.4 million investment from U.S. Bank to help build a 65,000-square-foot health clinic that will expand care to more residents.

The new building at 1735 S. Public Rd. will serve 4,000 more patients a year and offer a full spectrum of medical services, dental care, mental health counseling and the Women, Infants and Children nutrition program.

"We very much value the opportunity to be a trusted partner on this expansion by Clinica Family Health because of its dedication to improving the health of disadvantaged residents of Lafayette and the greater Boulder area. The new clinic will better enable patients to improve and protect their health, which helps the entire community become stronger," said Maria Bustria-Glickman, vice president of U.S. Bancorp Community Development Corporation, a subsidiary of U.S. Bank.

USBCDC is investing $3.4 million in federal New Markets tax credit equity in the $26 million project. The new clinic will care for an estimated 11,000 patients and provide more than 54,000 health visits a year. 

"Our existing facility was too small to handle the number of patients we had and lacked the space we need to add additional services," said Clinica Family Health President and CEO Simon Smith. "This new clinic will help us fill the tremendous need our patients have for dental care. Additionally, having a pharmacy and Boulder County Public Health onsite will allow us to better serve our patients."

Construction has already started and is expected to finish in June. The new health center will create 30 new jobs and 250 construction jobs.

U.S. Bank has invested more than $189 million in 25 historic, affordable housing, business expansion and renewable energy projects across Colorado since 2001.

About USBCDC

With $25 billion in managed assets as of Sept. 30, 2017, USBCDC provides innovative financing solutions for community development projects across the country using state and federally sponsored tax credit programs. USBCDC's commitments provide capital investment to areas that need it the most and have contributed to the creation of new jobs, the rehabilitation of historic buildings, the construction of needed affordable and market-rate homes, the development of renewable energy facilities, and the generation of commercial economic activity in underserved communities. Visit USBCDC online.

About U.S. Bank

U.S. Bancorp, with 73,000 employees and $459 billion in assets as of September 30, 2017, is the parent company of U.S. Bank, the fifth-largest bank in the United States. The Minneapolis-based bank blends its branch and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, small business, wealth management, payment, wholesale and securities services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank a 2017 World's Most Ethical Company. In 2016, U.S. Bank contributed $54.2 million to nonprofit organizations across the country through the U.S. Bank Foundation and corporate contributions. Additionally, employees donated more than 219,000 volunteer hours creating opportunities at work, home and play across the country. Visit U.S. Bank online or follow on social media to stay up to date with company news.

Contact

Shera Dalin, U.S. Bank Public Affairs and Communications
314.335.3335, shera.dalin@usbank.com