The Sentinel

Federal tax credit is helping clinics expand in low-income IL communities

by Mark Richardson
Illinois News Connection

CHICAGO - A federal program is awarding billions of dollars in tax credits to spur investment and economic growth in low-income urban and rural communities.

The New Market Tax Credits program has allocated funds to 104 Community Development Entities for projects and job development in Illinois and elsewhere. One such entity, Self-Help Ventures Fund, is investing $50 million in low-income urban, rural and tribal communities.

Sarah Brennan, structured finance sector leader for the fund, said they are focusing their investments on vital entities such as health clinics, charter schools and food banks.

"The program works by the government allocating authority to CDEs like ours to then give that tax credit to projects," Brennan explained. "What that allows projects to do is attract an investor."

Before the clinic expanded, patients were experiencing long waits just to see a doctor.

Self-Help has contributed $7 million to fund an expansion of Esperanza Health Centers in Chicago, more than doubling the public health clinic's capacity. Esperanza ranks among the top 3% of clinics nationwide for patient care outcomes. More than 90% of its patients are low-income people of color.

Esperanza recently opened a 40,000 square-foot expansion that will serve more than 23,000 additional patients.

Ryan Gadia, CFO of Esperanza, said Self-Help guided the clinic to connect with new investors for the project.

"Once we were putting together the financing on this building, we worked with a local community development entity, Chicago Development Fund," Gadia pointed out. "It is through them that we got the introduction to Self-Help."

Gadia added before the clinic expanded, patients were experiencing long waits just to see a doctor.

Brennan stressed their goal is more than just building a new building.

"Another remarkable byproduct of these deals is the new jobs that are created, all the different medical jobs, construction jobs, and then jobs like the food service areas," Brennan outlined. "It's a real economic-engine tool."

Brazilian forward commits to Illinois, Illini land four-star Manuella Alves

Urbana - The Illinois Fighting Illini women's basketball program has secured the commitment of highly touted forward Manuella Alves. The 6'3" Brazilian native will join the team next season after signing a Big Ten Athletics Scholarship Agreement during the National Signing Period.

Alves, a native of Rio de Janeiro, is ranked No. 61 in ESPNW's HoopGurlz rankings and a four-star recruit by 247Sports. She spent her junior year at Central Pointe Christian Academy in Kissimmee, Florida, where she averaged 7.1 points, 7.2 rebounds, 1.4 assists, and 1.6 blocks per game.

“I chose Illinois because I felt it was the right place for me," Alves said in a released statement. "I want to be great, and I know that Illinois is going to make me great.”

Alves has represented Brazil on the international stage, averaging 10.7 points and 8.2 rebounds at the 2024 FIBA U18 Women's AmeriCup. She also contributed 9.6 points, 9.8 rebounds, and 2.4 assists at the 2023 South American U17 Women's Championship.

Known for her physical post presence and ability to score with her back to the basket, Alves is expected to make an immediate impact for the Illini.

"She’s someone that I have watched for the last couple years, and I’ve loved her since I first saw her," says Illinois Women’s Basketball Head Coach Shauna Green. "She brings that toughness to our game, and to our team. Manuella’s versatility is something that our whole staff really loves about her game. She can shoot from the outside, she can put it on the floor, she can defend multiple positions, and is another person that we could not be more excited about."

Alves' commitment adds depth to an Illinois roster that includes current Illini Lety Vasconcelos, who played alongside Alves on the Brazilian U18 team. The Fighting Illini will look to build on their success from last season, when they reached the NCAA Tournament for the first time since 2003.