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.

"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

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

R.E.A.C.H.

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

Dignity 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.

"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 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

"FCLF understood our context, embraced the project vision, and were willing to make an investment that others deemed as too risky." – Lynn Brockwell-Carey, Executive Director

Brevard Neighborhood Development Coaliti…

"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

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

Sabadell United Bank

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

Neighborhood Renaissance

"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

"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

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

Sister Mary Heyser, RSHM

"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.

"FCLF shows a clear strategy and demonstrated evidence of addressing prevalent community needs." – J. Reymundo Ocañas, Director, Corp Responsibility

BBVA Compass

"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

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

Allegany Franciscan Ministries

"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

Our Partners

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