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revenues, and public insurance, including Medi-Cal and Medicare. Axis's capacity to provide medical care for the rapidly growing indigent and uninsured population of eastern Alameda County has been stretched as far as possible, given existing clinical space. Axis's main clinic is located in downtown Pleasanton at a site that was originally built in the 1950's as a small apartment complex. Since Axis began operating at this site in 1974, the buildings have been remodeled to accommodate 16 examination rooms. This site operates five days a week, two evenings each week and on Saturdays. The site has been grandfathered with respect to meeting OSHPD requirements for clinical space, and most clinical areas and hallways are significantly smaller than current codes require. In order to accommodate the need for clinical space, all storage areas have been converted to staff offices, the employee restroom has been converted to a pharmacy, and all administrative and IT staff have been relocated off-site. Medical care is also currently provided at the City of Livermore's Multi-Service Center where Axis maintains a clinical space that includes seven examination rooms. This site is fully utilized five days a week, two evenings a week and on Saturday mornings. The City of Livermore is unable to enlarge this building, and it is not possible to create additional clinical space at this site. DISCUSSION Capital Project Description In 2010, Axis conducted a comprehensive market assessment to determine future needs for clinical and behavioral health space in eastern Alameda County. This assessment revealed that, based upon community demographics, the continuing increase in population in East County and the impact of federal health reform implementation, Axis will, at a minimum, double the number of people it serves by 2015. The data further indicates that the number of Axis patients will potentially triple over the next five years. By applying industry-specific data, it was determined that Axis will need to develop clinical space that includes an additional 24 to 40 examination rooms by 2015. Based upon this data, Axis's board of directors determined that a third clinical site would need to be developed as quickly as possible in order to meet the existing and projected needs of the community. Following an exhaustive search of the Tri-Valley area, Axis purchased a 24,000 square foot building located at 5925 West Las Positas Boulevard in Pleasanton in December 2011. The new site occupies one half of a 48,000 square foot building. The space acquired by Axis is currently a vacant warehouse and will require a full remodel to create clinical space. Because the site was in foreclosure, Axis was able to realize significant savings, and the site was purchased for $2.35 million (less than $100 per square foot). Financing was secured through a loan from the Northern California Community Loan Fund which supports non-profit organizations and offers better-than- market rates. Page 3 of 9