Florida Community Loan Fund Receives $40 Million NMTC Award

28 October 2022

Award will directly impact Florida low-income communities with healthcare, youth services, and jobs.

FCLF Receives NMTC Allocation Award 2022Florida Community Loan Fund, a statewide nonprofit lending institution, today announced it has received a $40 million New Markets Tax Credit Allocation Award from the U.S. Department of Treasury Community Development Financial Institution (CDFI) Fund. The NMTC award allows FCLF to continue its 27-year history of providing flexible financing solutions for high social impact projects that support community development in low-income communities throughout Florida. 

This is FCLF’s 10th NMTC award and 100% of the award will benefit Florida’s low-income communities. As a Florida-based and Florida-focused organization, FCLF will utilize this NMTC award to support projects that offer critical community services, including healthcare and youth / education services, and that create and support jobs that offer living wages and opportunities for upward mobility.

“This most recent New Markets Tax Credit allocation award from the CDFI Fund will multiply our organization’s reach and allow us to achieve outcomes in those communities where the need is the greatest,” said Ignacio Esteban, FCLF CEO.

"NMTC financing can provide a way for organizations to greatly expand their services and can bring jobs for residents of low-income communities. Seeing these projects succeed means a lot to us at FCLF, but it means even more to the people and communities our borrowers serve,” said Nelson Black, FCLF Chief Lending Officer.

FCLF has a track record of leading capital into Florida’s low-income communities, maximizing opportunities for people and places outside of the economic mainstream. This NMTC Award will provide outcomes consistent with previous projects; for example:

  • Overtown Youth Center, Miami, has served its low-income community for 18 years with mentoring, education and family support services. With NMTC, OYC constructed a new youth and family services facility that will reach 5,000 annually and support 175 jobs.
  • Evara Health, Pinellas County, this Federally Qualified Health Center (FQHC) used NMTC to finance the construction of two and the renovation of two existing health care facilities, expanding health services to reach 17,000 low-income patients annually, 51% of whom are on Medicaid or Children’s Health Insurance Program (CHIP). The project supports 300 jobs.
  • Jessie Trice Community Health System, Miami Gardens, financed construction of a FQHC in a medically underserved low-income community to expand its service offerings to reach 13,000 annually with medical, dental, mental health, and pharmacy services. The project supports 110 jobs.

About Florida Community Loan Fund. Florida Community Loan Fund is a nonprofit, multifaceted financing entity with a 27-year history of providing flexible capital and expertise to nonprofit and mission-aligned for-profit entities that benefit people and places outside the economic mainstream 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. www.fclf.org

To view the press release on PRNewswire, click here.

Media Contact: Janet de Guehery, This email address is being protected from spambots. You need JavaScript enabled to view it.

“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

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

Sister Mary Heyser, RSHM

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

Dignity Health

“FCLF is much more than a financing entity; they are the ultimate partner. They are on the front line protecting and building resources for the most vulnerable in our community."– Seth Eisenberg

Purpose Built Families Foundation

“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

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

JPMorgan Chase Foundation

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

Sabadell United Bank

"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

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

Residential Options of Florida

“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 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 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.

"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

“Expanding our facility with NMTC financing provides the Overtown community resources necessary to provide a fighting chance to break down barriers and break the cycles of poverty.” – Tina Brown, CEO

Overtown Youth Center

"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

"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'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 Partners

FCLF representatives are ready to talk about your project success.
FCLF representatives are ready to talk about your project success.
FCLF staff with Tampa's Chloe Coney at Metropolitan Ministries Tampa.
FCLF staff with Tampa's Chloe Coney at Metropolitan Ministries Tampa.
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.
FCLF Staff meet and greet friends at an FLACDC event.
FCLF Staff meet and greet friends at an FLACDC event.
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
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.
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
Support from Axiom Bank helps FCLF build strong communities.
Support from Axiom Bank helps FCLF build strong communities.
Rep. Ander Crenshaw visited KIPP Jacksonville School
Rep. Ander Crenshaw visited KIPP Jacksonville School
Rep. Daniel Webster visited FCLF staff.
Rep. Daniel Webster visited FCLF staff.
FCLF staff and supporters volunteer at Million Meals event.
FCLF staff and supporters volunteer at Million Meals event.
FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.
FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.
FCLF projects create jobs and stimulate development in low-income communities.
FCLF projects create jobs and stimulate development in low-income communities.
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 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.
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.
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 Board Members represent our investors, borrowers, and technical experts.
FCLF Board Members represent our investors, borrowers, and technical experts.
DuPuis Pointe offers affordable, hurricane proof homes in Miami.
DuPuis Pointe offers affordable, hurricane proof homes in Miami.
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)
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.
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 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
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 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.
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
FCLF projects create jobs and stimulate development in low-income communities.
FCLF projects create jobs and stimulate development in low-income communities.
Support from Valley Bank helps FCLF build strong communities.
Support from Valley Bank helps FCLF build strong communities.
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.
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.
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
FCLF staff are active at statewide conferences and events.
FCLF staff are active at statewide conferences and events.
The duPont Fund used FCLF and NMTC Financing to revitalize downtown Jacksonville.
The duPont Fund used FCLF and NMTC Financing to revitalize downtown Jacksonville.
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
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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.