- 40% expansion of capacity
- 2,500 individuals to receive treatment annually
- 12 permanent and 45 construction jobs created
- 44 supported living units created
NCIF: $6.6 million NMTC allocation
CDFI Bank: Albina Community Bank
Large Bank: Wells Fargo
The Hooper Detoxification and Stabilization Recovery Center is an inpatient treatment facility that is managed by Central City Concern, a nonprofit agency that serves adults and families in the Portland metro area who are impacted by homelessness, poverty and addiction. At its previous facility, a smaller 50-year-old building, the Center was forced to turn away between 15 and 30 people each night because the demand for services far exceeded its capacity. The Center’s new location allows it 40% more beds, with upgraded and modernized facilities. This project needed NMTC allocations, as the income from the operation of the center would not have been sufficient to realize the changes. With the help of this New Markets partnership, the Hooper Center continues to help its very needy population on the way to recovery.
As a leveraged lender to the Hooper Center project, Albina Community Bank was able to generate income from the loan, supporting the sustainability of the bank’s mission and operations. The bank also built a relationship with the other partners in the transaction, and was able to participate in a development that will make real positive changes in the local community.