Governor Cuomo Announces a New $19.5 Million Community Health Care Revolving Capital Fund

Funding Will Provide Low-Cost Loans to Community Health Providers to Improve Access to Care

(February 02, 2017) - Governor Andrew M. Cuomo today announced the establishment of a $19.5 million Community Health Care Revolving Capital Fund. The public-private partnership will deliver low-cost loans to health care providers across the state for capital projects that will improve access to care for all New Yorkers.

"Every New Yorker deserves access to quality health care, and this new funding will help provide exactly the type of support health facilities need to make that a reality for communities across this state," Governor Cuomo said. "These critical, low-cost loans will help expand and improve services, taking one more step toward a stronger, healthier New York for all."

The Community Health Care Revolving Capital Fund is designed to improve access to capital for clinics and other organizations that have limited resources and are seeking to broaden access to primary care services. This revolving loan fund will provide affordable and flexible loans to these groups that are often unable to obtain or afford commercial financing.

DASNY, in consultation with the New York State Department of Health, selected the Primary Care Development Corporation to administer the fund. Borrowers will be chosen by PCDC through an application process that is approved by DASNY and NYSDOH. The funds will be used to provide loans for projects at eligible facilities. Eligible projects may include construction, renovation, expansion and upgrading costs. The funds may also be used for credit enhancement and loan and debt service reserves to allow a facility to stimulate greater private sector investment. For more information, visit PCDC's website.

Dormitory Authority of the State of New York President and CEO Gerrard P. Bushell said, "This public-private partnership exemplifies the resources New York State can leverage as we transform and strengthen health care across New York State. By establishing the Community Health Care Revolving Capital Fund we are providing low-cost resources to help create a world class health care system that promotes wellness, and contributes to the growth of New York State’s economy."

Department of Health Commissioner Howard Zucker, M.D., said, “We are delighted to be working with our partners at DASNY to make funds available to clinics and treatment centers that need financial assistance to expand. Primary care and preventive care are essential to our health care reform initiatives. These funds will help us pursue those goals.”

Office of Mental Health Commissioner Ann Marie Sullivan, M.D., said, "Access to high quality mental health services is critical to create healthy communities and health equity across the state. By integrating mental health care with primary health care and substance use disorder treatment, New York State will bring additional and much-needed support to community-based behavioral health providers, in order to improve the overall wellness of New Yorkers."

New York State Senate Health Committee Chair Kemp Hannon said, "I am proud to have sponsored the creation of the $19.5 million Community Loan Fund. PCDC has a strong history of investing in community health centers, and now is a critical time to deploy additional funding to strengthen primary care throughout New York State."

New York State Assembly Health Committee Chair Richard N. Gottfried said, "New York's healthcare system requires a strong foundation of primary care. This has taken years of work. It’s an important step towards healthy communities. DASNY and the Health Department were right to choose PCDC to administer the program, with its excellent track record supporting community health centers statewide."

Primary Care Development Corporation CEO Louise Cohen said, "We are delighted that DASNY and DOH have selected PCDC to administer the Community Health Care Revolving Capital Fund. This initiative will help PCDC meet the substantial expansion needs of community-based primary and behavioral health care providers throughout New York State, which is critical to successful health system and payment reform. The leadership of Governor Andrew Cuomo, Assembly Health Committee Chair Richard Gottfried and Senate Health Committee Chair Kemp Hannon, as well as our partnership with the Community Health Care Association of NYS, made this innovative program a reality."

Community Health Care Association of New York State Board Chair and Finger Lakes Community Health CEO Mary Zelazny said, "We appreciate the efforts of the Legislature and the Governor to make this new capital fund a reality. They clearly recognize the crucial rule that community-based providers, including FQHCs, play in helping to transform New York’s health care delivery system to improve the delivery of quality health care services at a more affordable cost. The Community Health Care Revolving Capital Fund provides a new funding opportunity for our members to address a portion of their critical capital needs as they grow and modernize their facilities. We know that the Primary Care Development Corporation recognizes both the needs and the value of strong community health providers, and we look forward to working with PCDC and DASNY on this initiative."