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

“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

"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

“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

"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

"It is really working. FCLF is really touching low-income people." – Florida Community Loan Fund Founding Board Member

Sister Mary Heyser, RSHM

"Thanks to FCLF, we are one step closer to providing a permanent housing solution for veterans and others seeking quality housing at an affordable price." – Carrie Davis, Executive Director

Wealth Watchers

"FCLF has a keen knowledge of Florida challenges & opportunities. We are confident our investment will be used to improve lives." – Kathleen Rizzo Young, Sr. VP, Community Development

HSBC Bank USA, N.A.

"We appreciate the accomplishments your organization attains." - Robert Sucher, Executive VP

Sabadell United Bank

“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 are delighted to partner with you to serve those most in need in our communities." – Eileen S. Coogan, President & CEO

Allegany Franciscan Ministries

"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.

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

JPMorgan Chase Foundation

"I appreciate FCLF for lending in rural areas, where many other lenders are exiting. From the first moment we spoke with FCLF staff, we felt we had a partner." – Jamie Kerr, President, AMCS Dev.

Griffin Heights

"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.

"Thank you to our friends at FCLF. Your staff has been patient and helpful. We'll make you proud!" – Bill Lazar, Executive Director

St. Johns Housing Partnership

"We're thrilled to partner with FCLF to make our project a reality to serve generations of kids in our community." – Dawn Stanhope, President & CEO

Boys & Girls Clubs of Manatee County

"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

"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…

"Our relationship with FCLF provides the capital to achieve long-lasting impact." – Terri Murray, Exec Dir

Neighborhood Renaissance

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

R.E.A.C.H.

Our Partners

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