FCLF Supports $11 Million Boys & Girls Club Facility

25 June 2018

FCLF, NMTC, Boys & Girls Clubs of Manatee CountyNew Markets Tax Credit Program will finance replacement of existing clubhouse.

Orlando Florida (June 25, 2018) – Florida Community Loan Fund (FCLF), a statewide source of flexible financing for community and economic development, announced the closing of a transaction that will replace the Boys & Girls Clubs of Manatee County’s (BGCMC) worn out, obsolete 50 year-old building with a new 47,500 square-foot facility.

FCLF provided $10.5 million in New Markets Tax Credit (NMTC) allocation for the new facility, consistent with FCLF’s focus on NMTC projects that achieve high social impact, catalyze economic development, and create jobs in severely distressed census tracts. The new BGCMC clubhouse, expected to open in Summer 2019, will be a centerpiece in its West Bradenton community and provide programs for 2,400 members – 75% of whom are low income. In addition to creating 200 jobs, the project is designed to drive academic achievement, good character and citizenship, and healthy lifestyles for local children.

“Without NMTC, it could have taken years to pull together financing for this project,” said Nelson Black, FCLF Chief Lending Officer, “but the time to mentor children and youth is right now. The new Boys & Girls Club will reach thousands of children and teens every year, in their own back yard.”

Learn more about Florida Community Loan Fund and Boys & Girls Clubs of Manatee County in this video.

FCLF, NMTC, BGC Video

FCLF has participated in the NMTC Program since 2004 and been awarded a total of $316 million in NMTC allocation authority from the U.S. Department of Treasury Community Development Financial Institutions (CDFI) Fund. The NMTC Program is designed to attract capital investments into large scale, high priority, locally determined projects statewide. The investor on this project is PNC Bank and additional financing is provided by Synovus Bank.

About Florida Community Loan Fund. Florida Community Loan Fund is a nonprofit, multifaceted financing entity with a 20+ year history of providing flexible capital and expertise to low income communities across Florida. FCLF is nationally recognized for its work as a certified CDFI and CDE through the U.S. Dept. of Treasury and as a member of the Federal Home Loan Bank of Atlanta. FCLF has financed $323 million through 300 loans in Florida, making possible over $940 million in new investments in low-income communities. For more information visit www.fclf.org or www.facebook.com/FCLFOrg

About Boys & Girls Clubs of Manatee County. Boys & Girls Clubs of Manatee County’s mission is “to enable all young people, especially those that need us most, to reach their full potential as productive, caring, responsible citizens.” In operation since 1946, Boys & Girls Clubs of Manatee County currently provides afterschool and summer programs for over 4,100 young people at six locations (2 traditional Clubs and 4 school-based Clubs). The Clubs offer a safe place to learn and grow, where young members experience both life-enhancing and character-building programs focused on academic success, healthy lifestyles, and good character and citizenship. For more information, call 761-2582 or visit www.bgcmanatee.org or www.facebook.com/BoysGirlsClubsManatee.

Read our press release here: Florida Community Loan Fund supports $11 million Boys & Girls Club Facility
Media Contacts: Janet de Guehery, This email address is being protected from spambots. You need JavaScript enabled to view it., or Lisa Junkerman, This email address is being protected from spambots. You need JavaScript enabled to view it..
Twitter: @FCLFOrg, #FCLF20

"We couldn't achieve our mission of creating strong neighborhoods without FCLF's help. Their staff is always friendly, quick to respond, and efficient." – Bonnye Deese, Executive Director

BAND

"Without FCLF's support, we would not have been able to deliver the services our area so desperately needs. We look forward to a lifetime relationship." – Tom Griffin, CEO

The Transition House, Inc.

"FCLF made it possible for us to provide many special needs and low-income students with the educational services that they need." – Charlotte Tollefson, Director & Founder

Woodlawn Community Academy

"BankUnited understands the challenges facing our communities; we applaud FCLF's efforts. Thank you for making our community a better place to live." – Katrina Wright, VP Comm. Dev.

BankUnited

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Sister Mary Heyser, RSHM

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Florida Community Bank

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Griffin Heights

"Cade Museum is proud to be partners with FCLF and JPMorgan Chase. Thanks to the NMTC Program, we will provide a transformative asset to our community." – Jennifer Denault, COO

Cade Museum for Creativity & Inventi…

"FCLF understands and is a part of what we are doing: helping families have the American dream of owning a home." – Isaac Simhon, Executive Director

Housing Programs, Inc.

"We consider FCLF a valued partner and strong advocates for low-income communities and families. We look forward to many more years of working together." – Jennifer Westerbeck, Vice President

US Bancorp CDC

"I recommend FCLF for attracting investment to the Florida Preservation Fund... I believe that says something about investor comfort." – Nancy Muller, Policy Director

Florida Housing Finance Corp.

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St. Johns Housing Partnership

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Dignity Health

"Our partnership with FCLF will allow us to build an attractive, state of the art facility that patients, staff, and community will be proud of." – Bakari Burns, President-CEO

Orange Blossom Family Health

"FCLF plays a significant role in sustaining vibrant and thriving communities. We are pleased to support your ongoing community based efforts." – Ernie Diaz, South Florida Market President

TD Charitable Foundation

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Wealth Watchers

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Emma Jewel Charter Academy

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Trinity Health

“We cannot thank FCLF enough for this partnership, creating permanent housing for our neighbors in need, and their commitment to Florida communities.” – Shannon Nazworth, President & CEO

Ability Housing

"We commend the important work of your organization, are glad to support its efforts." – Beverly Dabney

JPMorgan Chase Foundation

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