Clearinghouse CDFI provided $8 million in New Markets Tax Credit (NMTC) financing to support the Fairchild Medical Center expansion in Yreka, CA. Located in a severely distressed census tract with a poverty rate of 29%, this rural community faces significant healthcare challenges, including shortages of medical professionals and limited access to quality care. The expansion directly addresses urgent needs identified by the Siskiyou County Community Health Improvement Plan.
The expansion adds over 23,000 square feet of modern healthcare space, significantly improving the emergency department and laboratory services. Emergency department capacity will increase by 15%, and laboratory service capacity will grow by 20%. New dedicated behavioral health rooms will ensure critical mental health services are delivered with enhanced privacy and care quality. These improvements directly benefit more than 12,000 low-income individuals annually, strengthening healthcare accessibility throughout Siskiyou County.
In addition to enhancing essential healthcare infrastructure, this project promotes substantial local economic growth. It creates or retains 473 permanent local jobs and 105 construction jobs. Over 70% of these jobs are accessible to low-income residents. FMC works closely with regional workforce development organizations such as STEP (Siskiyou Training and Employment Program) and local community colleges to offer comprehensive training and extensive employee benefits, ensuring job quality and accessibility.
This significant community investment was made possible through strong partnerships with respected financial collaborators, resulting in total project financing of $41.8 million:
- Clearinghouse CDFI: $8,000,000
- CCG Community Partners, LLC: $6,000,000
- Community Hospitality Healthcare Services, LLC (CHHS): $12,000,000
- California Statewide Communities Development Corp. (CSCDA): $8,000,000
- Chase New Markets Corporation: $2,000,000
Long-Term Community Growth
Beyond immediate healthcare improvements, the Fairchild Medical Center expansion is a critical investment in regional resilience. By expanding essential healthcare infrastructure, this project positions Yreka and surrounding communities for sustainable growth. FMC’s improved capabilities will support everyday health needs and emergency situations, underscoring Clearinghouse CDFI’s ongoing commitment to long-term community health and economic stability.
Clearinghouse CDFI is proud to participate in this collaborative effort, demonstrating our commitment to responsible lending and measurable community impact. Together, we are strengthening local healthcare infrastructure, creating quality employment opportunities, and supporting enduring community resilience in Siskiyou County..
#24CA-7786A & B
Download the Just Funded – Fairchild Medical Center – 24CA-7786A & B.
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