FCLF Receives $45 million NMTC Award

15 February 2018

Florida’s only NMTC Award will maximize opportunities in distressed communities.

Ribbon Cutting at NMTC Project Metropolitan Ministries in TampaFlorida Community Loan Fund (FCLF), a statewide source of flexible financing for community and economic development, announced it has received $45 million in New Markets Tax Credit (NMTC) allocation authority from the U.S. Department of Treasury Community Development Financial Institutions (CDFI) Fund.

The $45 million is the 8th NMTC allocation for FCLF bringing the organization’s total in federal allocation to $316 million since the program began. The tax credit allocation will allow FCLF to attract capital investments into large scale, high priority, locally determined projects statewide. FCLF’s NMTC strategy focuses on high social impact projects, such as community health centers, emergency shelter and services for at-risk populations, youth education, and those that create jobs.

“With this infusion of $45 million in tax credits we can create lasting impact in Florida and maximize opportunities for people and places outside of the economic mainstream,” said FCLF CEO Ignacio Esteban.

FCLF is one of 76 organizations nationwide – and the only organization in Florida – to have received a total of $3.5 billion tax credits. Created in 2000, NMTC has proven to be an essential tool in driving capital investment into the poorest, most severely distressed urban and rural communities across the country… to grow businesses, create jobs, achieve high social impact, and strengthen local economies. To date over 1 million jobs have been created nationally through NMTC projects.

FCLF’s previous 7 NMTC allocations have been deployed to 21 projects statewide, providing:

  • Healthcare services for 37,000 low-income individuals annually
  • Youth services and education for 20,000 low-income students annually
  • 5,000 jobs created or retained, both permanent and temporary during construction
  • 1.6 million square feet in new or renovated facilities

Examples of FCLF NMTC investments in Florida include:

  • Lotus Village Miami, providing shelter and a support system to homeless women, youth, and children, as well as on-site healthcare accessible to the surrounding area.
  • South Florida Museum Bradenton, expanding its footprint with a new facility designed to target disadvantaged youth with STEM education.
  • Armature Works Tampa, restoring a historic building to provide retail space for local small businesses, access to fresh foods through weekly markets, and creating over 700 jobs.

About 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 $300 million through 275 loans in Florida, making possible over $900 million in new investments in low-income communities. 

Pictured: ribbon cutting at NMTC project Metropolitan Ministries in Tampa.
Read the press release from FCLF here.
Learn more on the CDFI Fund website.

"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

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

Neighborhood Renaissance

“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

"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

"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.

"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

"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

"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

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

Sabadell United Bank

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

Sister Mary Heyser, RSHM

"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 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 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.

"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 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

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

Allegany Franciscan Ministries

“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

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

JPMorgan Chase Foundation

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

Metropolitan Ministries

Our Partners

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