OKLAHOMA CITY — Oklahoma City-based nonprofit MetaFund is crossing state lines to help fund an expansion of a residential addiction treatment center in Atchison, Kansas, with a New Markets Tax Credit (NMTC) allocation.
For more than 50 years, Valley Hope Association has been treating people for addictions, operating 19 locations across the central United States. They serve as a cornerstone of recovery services for an eight-county rural region of northeast Kansas and northwest Missouri. Valley Hope is the only residential addiction treatment center in the area and currently operates at 95 percent occupancy, treating about 1,100 patients a year.
Valley Hope has acquired and is renovating an 18,000 square foot building next to their existing campus. Operating under a comprehensive care approach, they are adding detox capacity, more residential beds, and upgrading the current facility along the way.
“The BRIDGE TO RECOVERY capital campaign has been propelled by the New Market Tax Credits. Expanding and improving the campus has been on the “wish-list” for years. Thanks to support from donors, private and public funding, and the New Market Tax Credits, we are embarking on a realized dream for the treatment center and our patients,” said Megan O’Connor, Executive Director of the Valley Hope Foundation.
Valley Hope is fairly unique in that they treat people based on clinical need, not their ability to pay. Over the past two and a half years, 60 percent of Atchison patients received some form of financial assistance equaling about $11.1 million.
Approximately 37 percent of patients arrive at treatment unemployed because addiction cost them their jobs. So treatment serves the dual purpose of also helping to restore the regional workforce.
MetaFund provided $7 million in NMTC allocation against the total project cost of more than $10 million. It marks MetaFund’s first NMTC deal in Kansas. Capital One served as the tax credit investor for the funds.
"MetaFund is grateful to be part of Valley Hope's story in serving patients recovering from substance abuse challenges. Valley Hope has a demonstrated track record of providing transformative care and we anticipate that the impact this expansion will have on the trajectory of their patients' quality of life and economic mobility will be substantial,” said Evan Fay, MetaFund’s NMTC Program Manager.
Valley Hope of Atchison has served the community since 1972. The outcomes at the facility are strong and their patients experience a 50 percent lower readmission rate than the national average. Valley Hope is also ranked in the top 5 percent nationally for patient satisfaction.
For more information about the project, please visit valleyhope.org/atchison-project.
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Media Contact:
Austin Marshall
(405) 397-1532
About MetaFund
MetaFund is a nonprofit Community Development Financial Institution (CDFI) investing in impact and expanding economic opportunity through flexible financing and partnerships with banks, philanthropic investors, government entities, and community leaders. Since 1999, we’ve worked alongside underinvested communities to mobilize capital for organizations that align with our focus areas of work, housing, and health. Through our programs, MetaFund has deployed more than $470 million over our history to help businesses and communities grow stronger and thrive.. For more information, please visit metafund.org.
About Valley Hope Foundation
The Valley Hope Foundation is the charitable arm of Valley Hope, providing financial assistance to those committed to recovery. As a 501(c)(3) nonprofit, the Foundation supports patients by funding partial treatment grants, essential items, and facility enhancements, helping remove barriers to healing when it’s needed most.
