The Fund

The Healthy Futures Fund (HFF) is a $200 million initiative formed by the Local Initiatives Support Corporation, Morgan Stanley and The Kresge Foundation. Initially formed in 2012 with $100 million in resources that have been fully deployed, the Fund partners came together in late 2015 to announce the immediate availability of another $100 million in capital. The Healthy Futures Fund seeks to improve community health by expanding healthcare access through a co-location model for health centers and affordable housing projects.

For Federally Qualified Health Centers and Look-Alikes who are expanding their facilities and services, the Fund offers New Markets Tax Credits (NMTCs) and loan capital in one streamlined execution with very low transaction costs. The ideal health center project is co-located with a provider of non-clinical services that impact one or more social determinant of health. Examples of such services include but are not limited to: affordable housing, healthy food outlets and grocery stores, education or job training, fitness and wellness services.  

For affordable housing projects, the Fund offers competitive Low Income Housing Tax Credit (LIHTC) equity to finance projects co-located with a Federally Qualified Health Center or other community-based health center. Grants and other loan resources may be available to support Healthy Futures Fund projects.

The Goals of the Healthy Futures Fund


•     To encourage community development organizations and community health care providers to work together on programs that improve the health of low-income individuals and families

•     To provide new capital to FQHCs at a time of significant patient growth

•     To expand health care programs and services available to tenants in affordable housing developments financed with Low Income Housing Tax Credits

•     To utilize an innovative New Markets Tax Credit structure to finance health centers, in an effort to reduce transaction costs and better leverage capital from investors

Current Healthy Futures Fund Capital Sources


•    $50 million in Low Income Tax Housing Credit equity
For affordable housing developments incorporating health care programs and services

•    $50 million New Markets Tax Credit equity and loans
For health center construction and permanent financing

•    $250,000 in technical assistance and planning grants

•    $600,000 in program grants for projects we invest in
To support Healthy Futures Fund goals

Healthy Futures Fund Expected Community Impact


•    Federally Qualified Health Centers supporting 100,000 in patient capacity

•    450 units of affordable housing

•    New partnerships between health centers, affordable housing providers and other community stakeholders focused on improving the social determinants of health and creating healthy communities

•    New capital source for investment in health centers with a goal of additional investment in the future and a deeper understanding of the credit risks of health centers

Healthy Futures Fund Team


Founding Partners: LISC, Morgan Stanley, and The Kresge Foundation

Fund Manager: New Markets Support Company (a LISC subsidiary)

Fund Partners: National Development Council, Capital Impact Partners, Capital Link, Primary Care Development Corporation, Mercy Loan Fund, Opportunity Finance Network and Corporation for Supportive Housing

Contacts


Program Info    Emily Chen, Program Director
                                Local Initiatives Support Corporation
                                212-455-9882 or echen@LISC.org

NMTC Financing    Robert Poznanski, Senior Vice President & Chief Operating Officer
                                New Markets Support Company
                                269-459-4123 or rpoznanski@newmarkets.org

LIHTC Financing   Mike Jacobs, Senior Vice President of Acquisitions
                                National Equity Fund
                                312-697-6443 or mjacobs@nefinc.org

 

New Markets Support Company, an affiliate of LISC, is managing the fund.  You can download a hard copy of the Fund Summary here or, for more information, email info@healthyfuturesfund.org.