FCLF & R.E.A.C.H., Helping Front-Line Medical Workers with Affordable Housing

07 September 2020

The following is a guest post from R.E.A.C.H. Learn more about FCLF and R.E.A.C.H. here.


Florida Community Loan Fund and Real Estate Education and Community Housing, Inc. (R.E.A.C.H.)
Helping front-line medical workers achieve home ownership.

At Real Estate Education and Community Housing, Inc. (R.E.A.C.H.) we are pleased to have access to financing through a line of credit from Florida Community Loan Fund (FCLF) that enables us to purchase and hold properties for first-time homebuyers offered through the National Community Stabilization Trust (NCST) and the Fannie Mae Home Program (FNMA). Having a credit line with FCLF, R.E.A.C.H. can purchase homes quickly, reducing the investor opportunity and keeping homes affordable. Investor cash is often available more quickly than first time homebuyers. Therefore, balancing the opportunity for the purchase is achieved, and this helps bring stability to the new homeowner and the community.

REACH WeekiWachi homeWeeki Wachee
R.E.A.C.H. was offered a home in Weeki Wachee, Florida, through NCST. This attractive 2000-plus square foot home needed some minor repairs and had a landscaping issue. R.E.A.C.H. purchased it with affordable homeownership and stability in view.

Not long after purchase R.E.A.C.H. received the following letter along with a contract offer from a potential buyer.

March 2020

Hello! In just a few weeks I will be graduating medical school and becoming the first physician in my family. I will be doing my four-year residency training to become an anesthesiologist.

I have absolutely fallen in love with your home and think it would be perfect for me during my time as a resident physician. This will be the first home I have ever purchased.

I have independently put myself through school and am quite fortunate there are loans available to young physicians in order to purchase a home. I ask that you please consider my offer, in part knowing that I have been a full-time student for the past ten years while studying to become a doctor.

With the COVID-19 outbreak, there ls a strong likelihood my services will be needed sooner. I am hoping to move to the area as soon as possible in order to help the elderly patient population in the area combat the virus, as it is an extremely vulnerable community. I hope to do so while living in your beautiful home.

Again, I want to compliment you on your lovely home and I promise I will take wonderful care of it as well as make some lifelong memories there.

Please stay safe and well! Very Sincerely,
Olivia

This offer was made by a first responder and closed quickly under a special doctor’s program offered by Regions Bank. Olivia (last name omitted for privacy) is a first responder serving at a local hospital. As the letter reveals, she is a hard-working young lady, trained and ready to serve her community. Florida Community Loan Fund assisted R.E.A.C.H. in making this medical professional’s dream come true.

REACH StPete homeSt. Petersburg
Not long after this transaction, another young medical resident, Kyle (last name omitted for privacy), moved to the area to help through the pandemic. He purchased another of the affordable homes that was offered to R.E.A.C.H.through NCST and was also financed though FCLF.

This home is located in St Petersburg, Florida, in a wonderful, safe area near the water and within walking distance of all shops and hotels. Again, Regions Bank offered the resident a loan for this small condo. At closing, Kyle wanted to know how he was able to buy after losing so many properties to others. R.E.A.C.H. was able to tell the story of our support through NCST, FNMA, and FCLF.

R.E.A.C.H. has been able to help these two individuals on the front lines of the medical pandemic due to the partnership with Florida Community Loan Fund. It is so important to be able to receive site control and the ability to limit the purchase to first time homebuyers – which creates stability in a neighborhood of previously foreclosed upon homes.

R.E.A.C.H.
www.reach4housing.org
8409 N. Military Trail, Suite 112
Palm Beach Gardens, FL 33410

REACH logo

“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

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

Neighborhood Renaissance

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

JPMorgan Chase Foundation

“We are proud to partner with FCLF on this project, which expands access to innovative, quality, comprehensive primary healthcare in our communities.” – Annie Neasman, President & CEO

Jessie Trice Community Health

“Our partnership with FCLF makes an enormous difference in overcoming the challenge of providing affordable housing." – Jo Ann Nesbitt, President/CEO

St. Jude Great Commission CDC

"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

"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

"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

“The collaboration with FCLF and using NMTC financing allows us to bring the most ambitious projects to life to benefit the communities we serve.” – Elodie Dorso, President & CEO

Community Health Centers of Pinellas

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

Sabadell United Bank

"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 provides stability for families, strengthens the region, and helps Truist fulfill our purpose to inspire and build better lives and communities." – Sandy Hostetter, Central Florida Region P

Truist

"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 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

"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

“Thanks to FCLF adults with disabilities are living independently, fully included in their community." – Sheryl Soukup, Exec Dir

Residential Options of Florida

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

Dignity Health

"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

Our Partners

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