Open House Celebrates Grand Opening of Vinings at Greencastle Apartments, an Affordable-Housing Complex for Seniors in

  Open House Celebrates Grand Opening of Vinings at Greencastle Apartments, an
  Affordable-Housing Complex for Seniors in Clarksville

  *New first-of-its-kind, 80-unit development addresses critical need for
    affordable housing in the area
  *$9.3 million project funded by UnitedHealthcare, U.S. Bank and City of
    Clarksville

Business Wire

CLARKSVILLE, Tenn. -- September 26, 2013

UnitedHealthcare and U.S. Bank joined the City of Clarksville, The Vantage
Group, community leaders, project partners and new residents today to
celebrate the grand opening of Vinings at Greencastle Apartments. The 80-unit
housing complex is a first-of-its-kind development for seniors in Clarksville
that helps address a critical need for affordable housing in the area.

Clarksville Mayor Kim McMillan (center) officiates the ribbon-cutting for The
Vinings at Greencastle ...

Clarksville Mayor Kim McMillan (center) officiates the ribbon-cutting for The
Vinings at Greencastle with State Rep. Joe Pitts and project partners for the
new $9.3 million affordable housing community in Clarksville for senior
citizens. L to R: Steve Kemmer, Clarksville District Manager, U.S. Bank; Keith
Lampkin, Director of the Clarksville Office of Housing and Community
Development; Rep. Pitts; Mayor McMillan; Lorrie Shearon, Chief Strategy
Officer, Tennessee Housing Development Agency; Dr. Melinda Henderson,
Executive Director, Long Term Care & Medicare, UnitedHealthcare; and Lowell
Barron II, president, The Vantage Group (Photo: Robbie Quinn).

Vinings at Greencastle Apartments is designed to accommodate residents 55
years old and older, with 68 two-bedroom and 12 one-bedroom open-floor-plan
units. The residential complex offers residents amenities such as
energy-efficient appliances, a community building, and onsite management and
maintenance.

UnitedHealthcare provided $7.7 million in Low-Income Housing Tax Credit
(LIHTC) equity for the $9.3 million project through a partnership with U.S.
Bank subsidiary U.S. Bancorp Community Development Corporation. U.S. Bank also
provided a construction loan and a first mortgage for the benefit of the
project. The City of Clarksville Office of Housing and Community Development
provided the additional funding, with the Tennessee Housing Development Agency
(THDA) approving the use of tax credits for the complex.

The collaboration between UnitedHealthcare and U.S. Bank brings together one
of the nation’s top health and well-being companies and one of the nation’s
leading banking institutions to provide innovative financing for community
development projects using federally sponsored tax credit programs.

“UnitedHealthcare is grateful for the opportunity to partner with the
community of Clarksville and U.S. Bank to help expand access to affordable
housing for seniors, and to provide an economic boost to the region through
the construction of these new homes,” said Scott Bowers, president and CEO of
UnitedHealthcare Community Plan of Tennessee.

“Our shared commitment to affordable, quality housing is increasing housing
options available for seniors living in the Clarksville area,” said Steve
Kemmer, market president for U.S. Bank. “We’re proud to partner with
UnitedHealthcare to help ensure that seniors in need of affordable housing
have a place to call home.”

The $7.7 million investment by UnitedHealthcare in Clarksville is part of its
Affordable Housing Investment Program, which has provided more than $100
million in financing for community development projects throughout the United
States, $35 million of which is in partnership with U.S. Bank. The program is
one of several community initiatives undertaken by UnitedHealthcare that is
providing millions of dollars each year to help fund local infrastructure
projects to improve the quality of life for residents in communities where
UnitedHealthcare conducts business.

UnitedHealthcare, a UnitedHealth Group (NYSE: UNH) company, serves the health
care needs of more than 1.1 million Tennesseans, including people enrolled in
employer-sponsored plans, as well as Medicare and Medicaid beneficiaries.
UnitedHealthcare operates 12 offices and employs nearly 2,200 people
statewide.

U.S. Bank operates 110 branches and employs more than 1,800 people in
Tennessee.

About UnitedHealthcare
UnitedHealthcare is dedicated to helping people nationwide live healthier
lives by simplifying the health care experience, meeting consumer health and
wellness needs, and sustaining trusted relationships with care providers. The
company offers the full spectrum of health benefit programs for individuals,
employers and Medicare and Medicaid beneficiaries, and contracts directly with
780,000 physicians and other health care professionals and 5,900 hospitals and
other care facilities nationwide. UnitedHealthcare serves more than 40 million
people in health benefits and is one of the businesses of UnitedHealth Group
(NYSE: UNH), a diversified Fortune 50 health and well-being company.

About U.S. Bank
U.S. Bancorp (NYSE: USB), with $353 billion in assets as of June 30, 2013, is
the parent company of U.S. Bank, the 5th largest commercial bank in the United
States. Celebrating its 150th anniversary this year, the company operates
3,087 banking offices in 25 states and 5,032 ATM and provides a comprehensive
line of banking, brokerage, insurance, investment, mortgage, trust and payment
services products to consumers, businesses and institutions. Visit U.S.
Bancorp on the web at www.usbank.com.

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Contact:

UnitedHealth Group
Lynne High, 952-979-5861
lynne.high@uhc.com
or
U.S. Bank
Nicole Garrison-Sprenger, 612-303-0731
nicole.sprenger@usbank.com
 
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