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		Hacienda Pediatric Skilled Nursing Facility to Expand!
		Sara LeBeau, Project Management Assistant

Phoenix Community Development and Investment Corporation (PCDIC), in partnership with US Bancorp Community Investment Corporation, created a loan fund for non-profit businesses that have commercial real estate needs within Phoenix's low-income communities. Hacienda HealthCare is the first loan recipient under this fund for the expansion of their skilled pediatric nursing facility located in southeast Phoenix. Hacienda, a long-term healthcare facility for children, has been authorized for a $6 million Phoenix New Markets loan. The financing will provide for the construction of a 38,000 square foot pediatric skilled nursing facility that will offer 29 new beds (Phase I) on the existing site. When all phases of the project are completed, the total patient capacity will reach 104. As a result of the below market rate financing, Hacienda will advance Phase II implementation by 12 months. Established in November 2000 as Arizona's first skilled nursing facility specializing in the care of infants, children and young adults, Hacienda remains Arizona's only pediatric nursing facility. The facility's programs focus on the medical, educational, therapeutic, social and recreational needs of each patient. Hacienda's services include 24-hour nursing and respiratory therapy, on-grounds and public elementary and high school education, respite care and a transition program that allows parents and relatives to develop the skills necessary to care for their family member at home. The non-profit loan structure is based on a two tier program (A and B loans), that when combined, offer an interest-only loan for 7 years, up to 100% loan-to-value. This structure will allow non-profit entities to increase their ability to serve the low income community. The Phoenix New Markets Loan Program now has three different funds that can provide help to for-profit and non-profit businesses focusing on commercial real estate needs-office, industrial, retail, construction, acquisition-for projects that are located in low-income communities within the city of Phoenix. An established business with financing needs of $1 million++ for a commercial real estate project may be eligible for the program. To see if your business or project qualifies for a Phoenix New Markets Loan or for further information, contact either Lynda Dodd at 602-261-8708 or Sara LeBeau, of the City of Phoenix, at 602-534-2351, or visit our website at www.phoenixnewmarkets.org.   Pictured above with permission: Assilem, Jesus, Aurora, and Bryson.

For information on small business assistance programs, please call (602) 534-CITY (2489) or visit the following URL:
http://phoenix.gov/ECONDEV/index.html
City of Phoenix Community and Economic Development Department 200 West Washington Street, 20th Floor Phoenix, Arizona 85003	Call: 602.262.5040 or 602.534.6838 Fax: 602.495.5097 TTY: 602.534.3476
The city of Phoenix provides accessibility to information, participation, services and employment for persons with disabilities. This guide may be made available in the following alternative formats: large print, braille or audio-tape by calling (602) 534-CITY (2489).