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.

"FCLF made it possible for us to provide many special needs and low-income students with the educational services that they need." – Charlotte Tollefson, Director & Founder

Woodlawn Community Academy

"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

"FCLF was instrumental in making this important project a reality, bringing us one step closer to ending chronic homelessness in Miami-Dade County." – Dr. Paul A. Ahr, President & CEO

Camillus House

"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.

"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

"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

"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

“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 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

"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 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

"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

"Our partnership with FCLF will allow us to build an attractive, state of the art facility that patients, staff, and community will be proud of." – Bakari Burns, President-CEO

Orange Blossom Family Health

"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.

"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

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

Metropolitan Ministries

"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 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 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

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

BBVA Compass

Our Partners

RCRI Conference 2012
The RCRI Conference allows FCLF staff to touch base with our religious supporters.
Northern Trust Roundtable
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
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.
BNDC Greater Heights
Greater Heights offers new, safe, affordable rental homes in what was formerly a high crime area.
MTZ Carver Construction
FCLF projects create jobs and stimulate development in low-income communities.
Neighbor Up, Affordable Housing
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
Haley Park Construction
FCLF projects create jobs and stimulate development in low-income communities.
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.
FCLF at Florida Housing Conference
FCLF staff are active at statewide conferences and events.
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.
ASPIRA of Florida Aspirantes
ASPIRA of Florida offers education & mentoring with a focus on low-income and Latino students.
ASPIRA of Florida and FCLF
FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
FCLF and Rep. Webster
Rep. Daniel Webster visited FCLF staff.
KIPP Jacksonville
Rep. Ander Crenshaw visited KIPP Jacksonville School
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.
Casa San Juan Bosco and FCLF
Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.
Emma Jewel Charter Academy
Nutritious snacks are a part of the healthy focused curriculum at Emma Jewel Charter Academy.
Million Meals 2012
FCLF staff and supporters volunteer at Million Meals event.
FLACDC Conference
FCLF Staff meet and greet friends at an FLACDC event.
TD Charitable Foundation, TD Bank
TD Charitable Foundation and TD Bank have supported FCLF's mission since 2006.
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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.