In July 2017, CDF provided $9.5 million in New Markets Tax Credits to La Casa Norte to construct a 47,690 square foot facility providing health services (through Howard Brown Health Center, a Federally Qualified Health Center), food pantry, café/soup kitchen, youth drop-in center, and community computer lab. In addition, wraparound social services include case management, employment training and placement, and computer training, among others. The project also includes 25 permanent supportive housing rental units, reserved for homeless, near homeless, and/or disabled individuals or families with incomes at or below 30% of area median income.
La Casa Norte, whose predominantly Latino and African-American clients include a large number of homeless families and unaccompanied homeless youth, will serve over 1,175 low-income participants annually with its services. An additional 1,600 patients are expected at Howard Brown Health, with approximately 5,000 visits per year. The project expects to retain 68 permanent Full-Time Equivalent (FTE) jobs and create 14 permanent FTE jobs.
NMTC equity for this project was provided by PNC Bank. An additional $6 million in NMTC allocation was provided by IFF, and $3.5 million by PNC. In addition to NMTC financing, La Casa Norte provided $6 million in private equity and the City of Chicago provided over $7.5 million in Tax Increment Financing and other City funds to support the project.