May 27, 2020

Ko-Kwel Wellness Center

North Bend, Oregon

Ko-Kwel Wellness Center

The Ko-Kwel Wellness Center is a 22,000 square foot facility providing integrated health care to the Coquille Indian Tribe and others in the community. Craft3 used New Market Tax Credits (NMTCs) to help fund this project and bring jobs and better health outcomes to the Coquille Tribe.

Don Ivy, Chief of the Coquille Indian Tribe describes the Ko-Kwel Wellness Center as a “home for healing.” The 22,000 square foot facility provides holistic health care, including primary care, behavioral health, dentistry, and a pharmacy — to a community facing public health challenges and with inadequate access to health care.

The Ko-Kwel Wellness Center is an important step for the Coquille Tribe as they work to create a sustainable and prosperous future out of a painful history. The tribe lost significant land to 19th-century treaty violations and had their federal status terminated for more than 30 years.

Craft3 is proud to have been a partner in assembling the $12 million financing package for this ambitious project. We used New Market Tax Credits (NMTCs) — a federal program designed to incentivize investments in communities with high unemployment and high poverty — to deliver capital to the Coquille Tribe. Projects like this one that meet community needs, provide economic benefits, and build resilience are central to our mission. Read more about the Ko-Kwel Wellness Center.

About NMTC

New Market Tax Credits (NMTCs) are an important tool in Craft3’s community financing toolbox. Established in 2000, NMTCs incentivize investment in low-income communities. Investors provide capital to community development entities (CDEs) in exchange for significant federal tax credits: 5 percent of the investment for each of the first three years and 6 percent for the remaining four years for a total of 39 percent. Craft3 is a CDE and we use NMTCs to finance larger, more complex projects that offer significant and multiple community benefits.