The Bad River Band of Lake Superior Chippewa Indians have unique health care needs. There are numerous health care facilities outside the boundaries of the reservation but the Band sought to develop its own health and wellness center to address Tribal health care needs in a modern, culturally appropriate setting. The health and wellness center helps the Band not only to treat its member with health problems but to work with families and youth to help with prevention. Travois New Markets used $9.8 million in allocation partnering with Indion Ventures to bring $2.5 million in equity to the project. Because the entire leverage loan came in the form of grants, the only debt with any return on investment expectation will be the NMTC soft debt. This below-market source will allow the center to keep operations costs down and ensure the Band can provide affordable quality care to its members.
At a Glance
- Native Organization: Bad River Band of Lake Superior Chippewa Indians
- Environmental Services Client
- Date Closed with Investor: 2011
- Date Completed: 2012
- Development Type: Health Care
- Project Status: Complete
- Total Investor Equity: $2,484,300
- Total Project Cost: $9,800,000
