WEST REGION
$23.3 Million Total Project
$13 Million FCLF Federal NMTC Allocation
$3.7 million FCLF Community Development Financing
43,826 sq ft of new construction or renovated space
New construction and renovation of existing community facility providing housing and services to families experiencing or at risk of homelessness
Estimated reach 20,184 annually
55 Temporary and 64 Permanent Jobs estimated
"Florida Community Loan Fund is an invaluable financial ally. At Metropolitan Ministries, we frequently emphasize the pivotal role of community support in our work. FCLF demonstrates a profound commitment to Florida's communities. Their services empower us to effect positive change, and once more, FCLF has exhibited exemplary dedication by contributing invaluable resources, fostering partnerships, and providing crucial leadership to bring this project to fruition." – Tim Marks, President & CEO, Metropolitan Ministries
Founded in 1972, Metropolitan Ministries is a leading provider of homeless services in Hillsborough, Pinellas, and Pasco Counties, serving over 100,000 families annually. Many of these families ore either homeless or on the brink due to a lack of affordable housing and the prevalence of low-paying jobs. This combination leaves 45% of households unable to afford basic needs, just one emergency away from homelessness and placing thousands of children at risk of limited paths out of poverty. Metropolitan Ministries was founded when 13 area churches joined together to create a single organization to increase efficiency, eliminate duplication of services, and meet the growing needs of the homeless community.
With financing through Florida Community Loan Fund and the New Markets Tax Credit program, Metropolitan Ministries will expand its existing campus in Holiday, Florida with approximately 43,000 square feet of new facility space, including construction of 3 new buildings and expansion of an existing building. This MiraclePlace Pasco project will address shelter and housing needs for families and single women, seeking to prevent homelessness and stabilize families by equipping them with tools to overcome barriers to self sufficiency. The project will include 24 residential units, early childhood and after-school education programs, a support center with services and resources, and a kitchen / dining space that will also offer fresh produce and clothing for community members in need. An on-site program will provide workforce training and job placement. Without NMTC, the project’s completion would be delayed as other funding comes in.
This is FCLF’s third NMTC project with Metropolitan Ministries through a partnership that dates back to 2012. Florida Community Loan Fund provided $13 million in Federal NMTCs for the Miracles for Pasco project, with additional NMTCs provided by Chase New Markets Corporation and The Reinvestment Fund, Inc.. FCLF also provided $3.7 million financing through its community development loan program. The investor is Chase Community Equity, LLC.
Metropolitan Ministries is highly supported by the local community. MiraclePlace Pasco aligns with the Pasco County Consolidated Plan that prioritizes affordable housing and a need for homeless services, and the project has received funding from Pasco County and the Florida Dept. of Children and Families. Additionally, input from key partners and residents shaped the project, including the Early Learning Coalition of Pasco and Hernando Counties, the Homeless Coalition of Pasco County, Generations Christian Church, Pasco County School District, the Pasco County Sheriff’s Office, and resident voices from monthly house meetings.
"FCLF is privileged to have been invited to partner with Metropolitan Ministries on this, our 3rd NMTC transaction together since 2012. It’s gratifying to work with an organization that recognizes the unique value of NMTC equity – equity that Metropolitan Ministries continues to use to expand and redefine its services to its clients and the community as a whole." – Nelson Black, Chief Lending Officer, Florida Community Loan Fund
This transaction was completed in March 2024.
Community Profile:
- Income 72% of area median income (AMI)
- 17% Poverty rate
- Food Desert, FEMA-Designated Disaster Area, Medically Underserved Area / Populaion (MUAP)
Pictured: architectural rendering of Metropolitan Ministries MiraclePlace Pasco facility upon completion.
