FCLF Supports 10th NMTC Project Metropolitan Ministries

25 March 2013

Florida Community Loan Fund supports New NMTC Project with $10 million in credits

Florida Community Loan Fund (FCLF) surpasses $100 million in New Markets Tax Credit (NMTC) Allocation with its announcement of a $10 million allocation to Metropolitan Ministries.  
 

metromin-kids-groundbreaking-300x200Metropolitan Ministries, Tampa, FL
Total Project: $19.4 million
FCLF NMTC Allocation: $10 million

 
FCLF has been involved in NMTC Projects spanning the state of Florida, from Tallahassee and Jacksonville to Miami and Lake Okeechobee. Metropolitan Ministires, our newest and 10th project, is a new human services campus on 4 acres of formerly vacant land north of downtown Tampa, bordering a designated community redevelopment area. Scheduled to open this new facility in Summer 2013, Metropolitan Ministries estimates it will then serve more than 20,000 annually.
 
The expanded campus, named “Miracle Place,” will house 93,000 square feet of new and renovated space offering education, rehabilitation, family counseling, child care, food service, and emergency shelter. Also on site will be a unique K-5 elementary school, part of the Hillsborough County Public School system, offering small class sizes and additional social services for up to 136 at-risk low-income children. All of Metropolitan Ministries’ programs and services are designed to move homeless families toward greater self-sufficiency.
 
The Florida Community Loan Fund (FCLF) provided $10 million in federal NMTC allocation for the Miracle Place project. State NMTCs provided by Enhanced Community Development were paired with FCLF’s federal allocation. The investor in these two layers is JPMorgan Chase. Alongside this funding was an additional $6 million federal NMTC allocation from Whitney New Markets Fund.

Community Profile

  • 48% poverty rate
  • median Income 47% of area median income
  • unemployment 1.57 times national average

Project Highlights

  • $19.4 million total project cost
  • 44 new or permanent jobs
  • 115 temporary jobs

www.metromin.org

metromin-aerial-dec2012-300x200   metromin-site-rendering-300x200   metromin-constr-update-2013feb-300x200

About the Florida Community Loan FundFCLF provides flexible capital and technical assistance, primarily to nonprofit organizations working in community development, through its three financing programs: Community Development Fund, Florida Preservation Fund, and New Markets Tax Credits. Since it began lending in 1996, FCLF has originated more than $100 million in low-cost credit to projects throughout Florida and has leveraged an additional $400 million in loans and grants from various public and private sources for those projects. FCLF has a broad range of investors including most major financial institutions operating in Florida, individuals, religious investors, national foundations and trade associations. FCLF is certified both as a Community Development Financial Institution and a Community Development Entity, and is a member of Opportunity Finance Network.


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“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

"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

“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

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The Transition House, Inc.

"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 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

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US Bancorp CDC

"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

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Dignity 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

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

Metropolitan Ministries

"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

"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

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

R.E.A.C.H.

"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 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.

"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

Our Partners

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