Vgmhc Holdings Inc

Vgmhc holdings, inc. (holdings) was formed in 2024 as a public benefit corporation to exclusively benefit the virginia garcia memorial health center (the center). Holdings was established as part of a new markets tax credit (nmtc) transaction for the center's newberg wellness center project.the nmtc program is a federal subsidy program for economic development of depressed areas. The nmtc program is designed to stimulate the flow of investment capital into underserved areas by providing tax credit investment in a "low income community," which is claimed over a seven year credit compliance period. On february 8, 2024, the center closed a nmtc transaction of approximately $25.2 million to develop its newberg wellness center.

$4.5M from 1 funder · 1 grant · 2023