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.
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.
Community Facilities Loan
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