In October 2014, CDF provided $6 million in New Markets Tax Credit financing to SCR Medical Transportation, Inc., a minority-owned paratransit provider that serves people with physical and mental disabilities and elderly residents of Chicago’s South Side and surrounding communities. CDF financing supported a three-part expansion of SCR’s existing campus. The project includes renovation of a 47,000-square-foot office, vehicle maintenance, and indoor parking facility, rehabilitation of a 17,000-square-foot building for use as a call center, and the development of a secured parking area.
These new facilities are projected to allow SCR to create an additional 590 full-time equivalent positions, retain 700 full-time equivalent positions, and support an estimated 135 temporary construction jobs at stabilization. All full-time positions include a comprehensive benefits package, and many are accessible to ex-offenders, those without a college education, and individuals requiring significant training. It is estimated that 86% of SCR’s employees are low-income community residents. In addition to these significant employment impacts, the project increased the number of rides SCR is able to provide, supported MBE firms in the construction phase, and improved SCR’s energy efficiency.
NMTC equity for the project was provided by JPMorgan Chase.