Hatcher at Scyene Title Holding Company

The organization was formed in August 2014, and entered into a primary lease with Frazier Revitalization, Inc., which in turn entered into a sub-lease with Dallas County Hospital District, doing business as Parkland Health & Hospital System (Parkland Health) for 25 years. In August 2014, the Dallas Development Fund (DDF) awarded a $15,000,000 New Markets Tax Credit (NMTC) allocation to Frazier Revitalization, Inc. for the construction of 44,378 square foot medical facility in the Frazier area of Dallas, Texas. The transaction closed in August 2014, with the DDF and JPMorgan Chase, N.A. (Chase). As the NMTC Equity investor, Chase provided approximately $4.89 million in NMTC Equity. Chase provided a $11.7mm term loan (Senior Loan) to Frazier Revitalization, Inc., part of which was used to fund a $10.45 million "Leverage Loan" from Frazier Revitalization to Chase Investment Fund (CIF), a special purpose investment fund entity. Chase is responsible for the management of CIF. The NMTC Equity and Leverage Loan was combined to capitalize the CIF, which in turn made a Qualified Equity Investment (QEI) of $15 million into a subsidiary of DDF (Sub-CDE). DDF, through the aforementioned Sub-CDE, made two Qualified Low Income Community Investment (QLICI) loans to the Organization. The is a Qualified Active Low Income Community Business (QALIC B). Construction of the facility was completed in April 2015 and opened in May 2015.In August 2021, in accordance with NMTC regulations, the compliance period for the investment made by the Sub-CDE to the organization ended. The NMTC transactions were terminated, and interests were realigned as follows: CIF transferred 100% of its member interest to Chase NMTC Hatcher Station Investment Fund, LLC, owned by Frazier Revitalization, Inc.; DDF assigned the QLICI loans to Chase MNTC Hatcher Station Investment Fund, LLC in consideration of its member interest in DDF; being the only owner, Frazier Revitalization, Inc. dissolved the Chase NMTC Hatcher Station Investment Fund, LLC.In accordance with a provision in the sub-lease between Parkland Health and Frazier Revitalization, the tenant, Parkland Health, exercised their right to purchase the facility after the end of the seven year NMTC tax compliance period. In October 2021, the organization sold the medical facility to Parkland Health for $22.8 million, terminated the sub-lease, and Frazier Revitalization, Inc. terminated the primary lease with the organization; The organization repaid QLICI loan A to the Frazier Revitalization, Inc.; Frazier Revitalization, Inc. forgave QLICI loan B, and repaid the Chase Senior Loan. The Transaction resulted in a gain of approximately $8.2 million.