Coming Home: Affordable Assisted Living
The purpose of this project is to enable the National Cooperative Bank Development Corporation (NCBDC) to provide technical assistance and access to capital to five rural communities to help them develop community-based systems of chronic care. This initiative will also test the feasibility of financing and operating a revolving loan fund to attract additional public and private capital for future development efforts. Specifically, two models will be explored: (1) expansion into long-term care from a community health center base; and (2) conversion and/or reconfiguration of hospital services into a long-term care campus. Funding will be available in the form of grants for project financing and program-related investments for implementation. NCBDC will provide centralized technical assistance for the effort, focusing initially on health system design and financing issues. They will also use pilot sites to explore the feasibility of establishing a revolving loan fund to provide ongoing assistance for future sites. The expectation is that this initiative will provide NCBDC with the necessary market knowledge, development experience, and financing expertise to integrate this initiative as a new product line into its ongoing business activities.
Amount Awarded $6,531,516.00
Awarded on: 10/28/1992
Time frame: 11/1/1992 - 10/31/1998
Grant Number: 21254