CASA Plans New Domestic Violence Shelter

Project will use NMTC allocation from Florida Community Loan Fund

CASA (Community Action Stops Abuse) will build a new 100-bed domestic violence shelter in St. Petersburg, greatly expanding its reach to individuals in need. CASA's current facility has been in operation for more than 25 years, and with a capacity of 30 individuals the organization must turn away 1,400 people each year.

Domestic violence is an issue that touches every community. An article in Forbes magazine estimates domestic violence costs $8.3 billion in expenses annually. 

Funding for the new CASA shelter will be provided in part by a grant from the state of Florida, and in part through the New Markets Tax Credit (NMTC) Program. Florida Community Loan Fund will provide $12 million in NMTC allocation for this project. Nearly $10 million in additional State and NMTC will be used in the project, provided by FCLF and Stonehenge Capital. CASA has also received support from HSN Cares, Carlton Fields, and other local individuals and businesses. U.S. Bank will invest in the tax credits and Fifth Third will provide additional financing for the project.

"CASA is the first organization to receve state and federal NMTC from FCLF," said Nelson Black, Chief Lending Officer. "We are excited to have this as the first of four high impact NMTC projects that we will be involved with over the coming year."

The Tampa Bay Business Journal featured the CASA project in an article on February 4, 2014. To read the article in its entirety, click here (subscription may be required to view full content).

For more information on FCLF NMTC Programs, click here.
For more information CASA, visit www.casa-stpete.org. 
To read the Forbes article on domestic violence, click here. 

Pictured at right: volunteers clear an area behind CASA; photo from Tampa Bay Business Journal.