FCLF and West Palm Bch Housing Authority

22 February 2012

springbrook-commons2-300x200Florida Community Loan Fund finances preservation of affordable rental housing.

West Palm Beach Housing Authority will renovate Springbrook Commons apartment homes with a loan from FCLF.

Florida Community Loan Fund (FCLF) is pleased to announce $3.3 million in financing of the acquisition and renovation of the Springbrook Commons complex in West Palm Beach. Financing is made possible through the FCLF Florida Preservation Fund, a pilot program that was created in 2008 by the Florida Legislature to preserve affordable rental housing.

The West Palm Beach Housing Authority (WPBHA) has a mission of providing safe, decent and affordable housing to families in the City of West Palm Beach. The organization maintains 6 housing developments, providing homes for over 2,000 residents. Springbrook Commons, built in 1994 on 8.3 acres west of I-95, consists of 144 units, all of which will continue to be available only to low-income families. The financing through FCLF will allow WPBHA to upgrade the existing apartments to current market conditions, including new flooring, remodeled kitchens, and interior painting.

The State of Florida selected FCLF to administer the Florida Preservation Fund (FPF) to help preserve affordable multi-family rental housing. The FPF program provides financing for acquisition and rehabilitation of projects, such as this $3.3 million loan to WPBHA for Springbrook Commons in West Palm Beach. Addressing the preservation of affordable rental housing is an important component of FCLF's mission to transform communities throughout Florida.

For more information:
On FCLF, visit our website at http://www.fclf.org
On WPBHA, visit their website at http://www.wpbha.org

"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.

"Aida Palms will be a lasting asset to the City of Lakeland. This revitalization wouldn't be possible without financing partners like FCLF." – Mitchell Rosenstein, Principal, Green Mills Group

Aida Palms

"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.

"When nobody else would take a chance on us, FCLF did. Woodlawn is thriving today and we will always be grateful for your part in that.." – PeterTollefson, Dean of Students

Woodlawn Community Academy

"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

"Trinity Health is happy to partner with FCLF. We look forward to seeing the impact in the communities you serve." – Sr. Kathleen Coll, SSJ, Administrator, Shareholder Advocacy

Trinity 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

“Thanks to FCLF we’re able to provide brand-new safe, affordable homes for 90 families in a sustainable mixed-use, mixed-income community." – Mitchell Rosenstein, Founder & Principal

Green Mills Group

"Without the FCLF initial loan to purchase land, we might not have been able to move forward with farmworker housing." – Peter Routsis-Arroyo, CEO, Catholic Charities, Diocese of Venice

Casa San Juan Bosco

"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 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 appreciate how the work of FCLF primarily benefits low- to moderate-income individuals and areas and supports the needs of our community." – Maria J. Thompson, Community Development Manager

Third Federal Savings

"Our partnership with FCLF helps the American Dream of homeownership come true." – Michael Roberts, Exec Dir

R.E.A.C.H.

"We look forward to continuing our successful relationship with FCLF and working together to meet the needs of our communities." – Nancy Merolla, VP/CRA Officer

Florida Community Bank

“The partnership with FCLF is very exciting for us – an essential component in providing greater access to fresh healthy food in downtown New Port Richey.” – Jeff Wright, Owner

Wright's Natural Market

"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

"FCLF staff shares our vision and commitment to serve needy families and provide a high quality education to all children." – Thomas Cole, Founder

Emma Jewel Charter Academy

"FCLF is a difference maker! Their team provides solutions to bring about real change in a community." – Tim Marks, President & CEO

Metropolitan Ministries

“FCLF addresses local community needs, which aligns with our core values. We appreciate your commitment to our communities.” – Mellissa Slover-Athey, Comm Reinv Ofcr

CenterState Bank

“FCLF will help us have significant ongoing impact in West Lakes as we help families set roots in this community.” – Camille Reynolds, Executive Director

Hannibal Square CLT

Our Partners

TD Charitable Foundation, TD Bank
TD Charitable Foundation and TD Bank have supported FCLF's mission since 2006.
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FCLF staff with local supporters at Metropolitan Ministries Tampa.
FCLF at Florida Housing Conference
FCLF Staff are on hand at conferences and events to discuss our programs.
MTZ Carver Construction
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Emma Jewel Charter Academy
Nutritious snacks are a part of the healthy focused curriculum at Emma Jewel Charter Academy.
RCRI Conference 2012
The RCRI Conference allows FCLF staff to touch base with our religious supporters.
Million Meals 2012
FCLF staff and supporters volunteer at Million Meals event.
FCLF at Florida Housing Conference
FCLF staff are active at statewide conferences and events.
Mathis Place Resident
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
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Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
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FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
FLACDC Conference
FCLF Staff meet and greet friends at an FLACDC event.
FCLF Board and Staff
FCLF Board Members represent our investors, borrowers, and technical experts.
FCLF and Rep. Webster
Rep. Daniel Webster visited FCLF staff.
Housing Programs, Inc.
FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.
Emma Jewel Academy and FCLF
Emma Jewel Charter Academy offers education for the whole child in Brevard County.
duPont Fund and FCLF
The duPont Fund used FCLF and NMTC Financing to revitalize downtown Jacksonville.
Northern Trust Roundtable
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
ASPIRA of Florida Aspirantes
ASPIRA of Florida offers education & mentoring with a focus on low-income and Latino students.
Armature Works
FCLF and the NMTC Program renovated a historic building into a small business incubaor.
Valley Bank
Support from Valley Bank helps FCLF build strong communities.
Boys & Girls Clubs of Manatee
FCLF staff and US Legislative staff at an event honoring Youth of the Year.
KIPP Jacksonville
Rep. Ander Crenshaw visited KIPP Jacksonville School
Casa San Juan Bosco and FCLF
New rental homes are available for farmworker families at Casa San Juan Bosco.
Casa San Juan Bosco and FCLF
Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.
Boys & Girls Clubs of Manatee
FCLF and NMTC are creating a new facility for the Boys & Girls Clubs of Manatee County
Greater Heights Resident
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
Haley Park Construction
FCLF projects create jobs and stimulate development in low-income communities.
TD Bank Charitable Foundation
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
FCLF and Florida Housing Coalition
FCLF representatives are ready to talk about your project success.
DuPuis Pointe Miami
DuPuis Pointe offers affordable, hurricane proof homes in Miami.
BNDC Greater Heights
Greater Heights offers new, safe, affordable rental homes in what was formerly a high crime area.
Axiom Bank
Support from Axiom Bank helps FCLF build strong communities.
Neighbor Up and FCLF
FCLF Chief Lending Officer visits with the Executive Director of Neighbor Up (formerly BNDC)
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Our Vision Opportunity and dignity exist for every person and community in Florida.
Our Mission Our expertise and capital make projects successful and help organizations improve lives and communities.