FCLF Awarded $1.8 Million from CDFI Fund

26 September 2017

Award will finance affordable rental housing and access to healthy foods in Florida’s low-income communities

Orlando, Florida (Sept. 26, 2017) – Florida Community Loan Fund (FCLF), a statewide source of flexible financing for community and economic development, announced it has been awarded $1.8 million by the U.S. Department of Treasury Community Development Financial Institutions (CDFI) Fund. The award comprises a Financial Assistance Award of $776,500, and a Healthy Food Financing Initiative Award of $1 million.

The CDFI Award is part of FCLF’s strategy to bring long-term capital to underserved neighborhoods, a strategy which includes a pending application to the CDFI Fund for the Bond Guarantee Program. These awards will bring capital resources to Florida low-income communities.

“The needs in Florida’s low-income communities remain high, particularly in the areas of affordable rental housing and access to fresh foods,” said FCLF CEO Ignacio Esteban. “The CDFI award will exclusively benefit those Floridians who suffer the consequences of these deficiencies.”

FCLF’s Financial Assistance Award will finance affordable rental housing and community facilities, including those offering healthcare, education and services for special needs populations. FCLF can help alleviate Florida’s shortage of affordable rental housing where 70 percent of renter households pay more than 50 percent of income on rent.

FCLF was the only recipient of a Healthy Food Financing Initiative Award in Florida. The award expands FCLF’s program to provide access to fresh, healthy foods in food deserts. Florida’s low-income populations suffer from above average obesity and diabetes rates – conditions that can be improved with increased food access.

Examples of FCLF financing for affordable rental housing and food access include:
City View Apartments, Miami, offering 66 fully furnished apartments to low-income households with a focus on formerly homeless.
Treasure Coast Food Bank, Fort Pierce, processing fresh produce and vegetables from local farmers and distributing it to local schools and food banks.

The total of CDFI Fund Awards nationally was $208.7 million to 303 CDFIs, the largest pool of awardees in CDFI fund history. Over 430 applications were received for this competitive process. FCLF’s FA Award was 1 of 13 in Florida, and FCLF was the only recipient of an HFFI Award in Florida.

CDFI Award 2017 300wAbout Florida Community Loan Fund    Florida Community Loan Fund is a nonprofit, multifaceted financing entity with a 20+ year history of providing flexible capital and expertise to low income communities across Florida. FCLF is nationally recognized for its work as a certified CDFI and CDE through the U.S. Dept. of Treasury and as a member of the Federal Home Loan Bank of Atlanta. FCLF has financed $306 million through 275 loans in Florida, making possible $912 million in new investments in low-income communities.


Media Contacts: Janet de Guehery, This email address is being protected from spambots. You need JavaScript enabled to view it., (407) 246-0846 or Lisa Junkerman, This email address is being protected from spambots. You need JavaScript enabled to view it., (407) 252-3983
Twitter: @FCLFOrg

"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

"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

"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.

"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

"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

"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 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

"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'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

"FCLF demonstrates a mission-oriented philosophy that is compatible and supportive, broadens our platform and deepens our portfolio of products and services." – Kent Adcock, CEO

Habitat for Humanity of Lake-Sumter

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

Sabadell United Bank

"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.

"The Fathers Table Foundation appreciates the services FCLF provides and the impact on the communities you serve. We believe in your organization and your mission." – Dan Gilardi, President

Fathers Table Foundation

"We couldn't achieve our mission of creating strong neighborhoods without FCLF's help. Their staff is always friendly, quick to respond, and efficient." – Bonnye Deese, Executive Director

BAND

"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

"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 has proven its community impact and hard work. We are proud to partner with FCLF." – Leslie Watson, Analyst, Community Investments

Dignity Health

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

Metropolitan Ministries

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

JPMorgan Chase Foundation

Our Partners

Boys & Girls Clubs of Manatee
FCLF and NMTC are creating a new facility for the Boys & Girls Clubs of Manatee County
Emma Jewel Charter Academy
Nutritious snacks are a part of the healthy focused curriculum at Emma Jewel Charter Academy.
Mathis Place Resident
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
ASPIRA of Florida and FCLF
FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
Boys & Girls Clubs of Manatee
FCLF staff and US Legislative staff at an event honoring Youth of the Year.
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.
Northern Trust Roundtable
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
FCLF and Rep. Webster
Rep. Daniel Webster visited FCLF staff.
MTZ Carver Construction
FCLF projects create jobs and stimulate development in low-income communities.
Metro Min Grand Opening
FCLF staff with local supporters at Metropolitan Ministries Tampa.
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.
Casa San Juan Bosco and FCLF
Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.
Million Meals 2012
FCLF staff and supporters volunteer at Million Meals event.
Neighbor Up and FCLF
FCLF Chief Lending Officer visits with the Executive Director of Neighbor Up (formerly BNDC)
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.
FCLF and Florida Housing Coalition
FCLF representatives are ready to talk about your project success.
Greater Heights Resident
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
RCRI Conference 2012
The RCRI Conference allows FCLF staff to touch base with our religious supporters.
TD Bank Charitable Foundation
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
Neighbor Up, Affordable Housing
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
Emma Jewel Academy and FCLF
Emma Jewel Charter Academy offers education for the whole child in Brevard County.
Casa San Juan Bosco and FCLF
New rental homes are available for farmworker families at Casa San Juan Bosco.
KIPP Jacksonville
Rep. Ander Crenshaw visited KIPP Jacksonville School
Housing Programs, Inc.
FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.
duPont Fund and FCLF
The duPont Fund used FCLF and NMTC Financing to revitalize downtown Jacksonville.
Haley Park Construction
FCLF projects create jobs and stimulate development in low-income 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.
Valley Bank
Support from Valley Bank helps FCLF build strong communities.
FCLF at Florida Housing Conference
FCLF staff are active at statewide conferences and events.
FCLF Board and Staff
FCLF Board Members represent our investors, borrowers, and technical experts.
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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.