November 12, 2013
Buffalo, NY- Roswell Park Cancer Institute welcomed Sen. Charles Schumer, Rep. Brian Higgins, City of Buffalo Mayor Byron Brown as well as project investors and partners to a press event today to announce securing New Markets Tax Credit (NMTC) Funding for the construction of its Clinical Sciences Center (CSC).
Roswell Park Cancer Institute (RPCI), is America’s first cancer center founded in 1898 by Dr. Roswell Park. The non-profit institute has been providing hospital care to a medically underserved area in Buffalo, NY for over 100 years. With the assistance of the NMTC Program, RPCI will construct a 140,000 square foot CSC building on its campus. The 11-story CSC building will connect the Main Hospital to a new Research Center and expand the Institute’s Cancer Prevention program space by 100%. Benefits include space for administrative offices previously held in the Main Hospital and space for up to 10,000 additional community mammogram screenings to be performed each year. The institute also plans to work with several area nonprofit and governmental organizations to recruit low-income employees to fill jobs created by the project.
NDC’s $8 million NMTC Qualified Equity Investment in the $46 million project was combined with financing and NMTC allocation from Chase Bank, Building America CDE and Dudley Ventures, resulting in the creation of 200 construction jobs and 340 permanent jobs.
Find out more about the event HERE!