FCLF Provides $12 million in Federal NMTC to CASA in Pinellas County

Domestic Violence Shelter will also utilize Florida New Markets Development Program

Florida Community Loan Fund (FCLF) provided $12 million in Federal New Markets Tax Credit (NMTC) and $4.8 million in Florida NMTC to CASA – Community Action Stops Abuse – for the construction of a new 45,000 square-foot building on 5 acres in Pinellas County, Florida.

Scheduled to open in July 2015, the new facility will:

• more than triple CASA's capacity, from 30 to 100 beds
• allow the organization to reach more than 1,100 clients annually
• provide space for on-site daycare, counseling, and other services

CASA marks FCLF's 13th New Markets Tax Credit project, and the 11th project in Florida. FCLF has received a total of $151 million in Federal NMTC allocation, which has been used on projects totaling $371 million and creating or retaining 1,478 temporary and 828 permanent jobs. This is the first use by FCLF of the Florida New Markets Development Program; FCLF was approved under this Program in 2013.

"We are honored to work with CASA on this new Pinellas County facility," said Nelson Black, FCLF Chief Lending Officer. "CASA exemplifies the type of high social impact project that the New Markets Tax Credit program makes possible."

CASA has been active in the Tampa Bay area since 1977, providing refuge, crisis intervention, advocacy, professional training and community outreach for victims of domestic violence. CASA also offers transitional housing apartments, mental health and addiction counseling, legal assistance, youth education, and other services. Linda Osmundson, Executive Director of CASA, is nationally recognized for her expertise and work in the field of domestic violence.

"The NMTC Program provides the organization with funding that we will not need to raise from other sources," said Linda Osmundson. "With this expansion we know we can reach additional special populations with our outreach, education, and services."

The total estimated cost of the CASA facility is $12 million. In addition to FCLF, Stonehenge Capital also provided state tax credits. The investor is U.S. Bancorp Community Development Corporation.

For more information, visit www.fclf.org or www.casa-stpete.org.
Pictured: vacant land that will be the new home of CASA. 

Also see related articles on FCLF website (here and here) and in the Tampa Bay Business Journal.

About Florida Community Loan Fund: FCLF provides flexible capital and technical assistance, primarily to nonprofit organizations working in community development, through its three financing programs: Community Development Fund, Florida Preservation Fund, and New Markets Tax Credits. Since it began lending in 1996, FCLF has originated more than $145 million in low-cost credit to projects throughout Florida and has leveraged an additional $445 million in loans and grants from various public and private sources for those projects. FCLF has a broad range of investors including most major financial institutions operating in Florida, individuals, religious investors, national foundations and trade associations. FCLF is certified both as a Community Development Financial Institution and a Community Development Entity, and is a member of Opportunity Finance Network.

About CASA: CASA, Community Action Stops Abuse, has been working in the Tampa Bay area since 1977 providing refuge, crisis intervention, advocacy, professional training and community outreach to break the silence that isolates victims of domestic violence and prevents them from a life of hope, independence and peace. CASA staff members understand the courage it takes to disclose abuse, and they work with the community to build a network of support for survivors and their children.