PIDC provides financing for priority developments in every corner of the city, supplying the critical resources to complete the capital stack for anchor projects. With access to capital resources not available to traditional banks, PIDC is able to take greater risk and offer flexible terms and innovative products for projects that help launch the transformation of neighborhoods.
PIDC’s guidance and financing have allowed Phyllis and her staff to continue providing health care services for local families, while ramping up their ability to see more patients. The state-of-the-art primary care health facility – funded through loans, grants, and tax credits structured by PIDC – has allowed Spectrum to double its patient visits, hire additional staff, and inject a sense of pride into the community.
“PIDC understood this was an investment that could not only help Spectrum, but also develop the properties around us,” said Phyllis. “They gave people a sense that this community was worth revitalizing.”
PIDC’s role in filling funding gaps for these kinds of projects can transform a whole area, creating jobs, revitalizing neighborhoods, and delivering important goods and services to the community.