Village of Hope
Merced, California
Investment
Highlights
2020
Year
$8.5 million
Allocation
3,170
People Served Annually
Client
Central Valley NMTC Fund
Use of Allocation Capital
Real Estate Development
The Merced County Rescue Mission strives to permanently improve the lives of those in Merced County, California who are homeless, have been incarcerated, or are imprisoned by their own addictions. NMTC financing was used to jumpstart construction of the Village of Hope, an innovative, multi-building campus developed to address homelessness through comprehensive support services.
Golden Valley Health Centers will operate the healthcare space, providing respite and behavioral health services to Village of Hope residents and non-residents. The transitional housing in Phase I is available for homeless veterans and homeless families. The project is part of a larger coordinated effort between the City of Merced, the County of Merced, and the State of California to address issues surrounding homelessness.
Services Provided by Classic Lake:
New Markets Tax Credit CDE Advisory
Community and Economic Impacts
59 construction jobs
5 new full-time jobs, in addition to providing hands-on training for 20 nursing students annually
Expands healthcare access, delivering 2,000 annual medical appointments and serving 1,150 clients through an on-site clinic
Provides stable housing and essential services, including 20 shelter beds and over 30,000 meals annually for homeless individuals and families