Alston & Bird client Grady Memorial Hospital has secured $7.3 million in tax credits to help fund a $37 million renovation of its Women’s and Infants’ Center.
The tax credits will help Grady revitalize the center into a modern and welcoming facility that reflects the health system’s commitment to excellence and that delivers more for women, infants, and the community.
Improvements to the facility and patient experience will include a contemporary family birthing center, enhanced mother/baby unit, and expanded neonatal intensive care unit.
The tax credits were made possible by the federal New Markets Tax Credit (NMTC) program, which was instituted by Congress in 2000 to incentivize private businesses and organizations to invest in low-income communities.
Advising Grady on the project were Alston & Bird partner Jack Sawyer and associate Jake Kaplan of the firm’s Exempt Organizations Group.