FCLF Receives 4th New Markets Tax Credit Award

23 February 2012

wexford-exterior-300x200Florida Community Loan Fund (FCLF) is pleased to announce a New Markets Tax Credit (NMTC) allocation award of $30 million from the U.S. Treasury CDFI Fund. The awards were announced this week by Deputy Secretary of the Treasury, Neal Wolin. FCLF is the only Florida entity to have received this award of tax credit allocation authority during the current round.

FCLF received its first NMTC allocation award in 2003, and with this most recent award of $30 million it now has four awards totaling $111 million. These allocations have benefited 8 projects that include 3 charter schools, 2 health related facilities, and 3 green projects - one will produce solar energy, another will use wood waste residuals to produce a recycled coal substitute product which can be used in coal-fired power plants.

In addition to the economic stimulus created in the neighborhoods by these projects, over 2,500 jobs have been provided to the residents in the severely distressed census tracts in which they are developed. The projects financed through FCLF's NMTC Program enhance the organization's mission of ensuring critically needed financing to low-income communities and the families that live, work and play in those communities. This allocation award cements FCLF's position as Florida's most active and accomplished NMTC entity.

"New Markets Tax Credits are an important part of our three-program lending strategy. Together, these three programs have created significant social impact throughout the state of Florida," said Nelson Black, Director of Lending of FCLF. "This most recent allocation of $30 million allows our organization to continue to provide jobs, encourage economic development, and provide community services to low-income neighborhoods. We were the only Florida-based entity selected for an award in this round; and we are proud to have been recognized for our work by the CDFI Fund."

“For so many vital economic development projects across the country, the New Markets Tax Credit has been a critically important piece of the puzzle,” said Deputy Secretary Wolin. “This targeted tax credit has a strong record of spurring economic growth in low-income and distressed communities across our country.”

The award process this year was more competitive than ever. The CDFI Fund received 314 applications for a total of $26.7 billion. Of those 314, 70 were chosen to receive $3.6 billion in awards.

For more information:
About FCLF, visit our website at www.fclf.org.
About the CDFI Fund, visit their website at www.cdfifund.gov.
To view this announcement in your web browser, click here.

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

Sabadell United Bank

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

BBVA Compass

"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.

"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…

"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 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

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

Dignity Health

"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 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

"I appreciate FCLF for lending in rural areas, where many other lenders are exiting. From the first moment we spoke with FCLF staff, we felt we had a partner." – Jamie Kerr, President, AMCS Dev.

Griffin Heights

"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

“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

"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

"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

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

Metropolitan Ministries

"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 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

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

Neighborhood Renaissance

Our Partners

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