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 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 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

“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 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

“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'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

“Thank you so very much for the exceptional services. We truly value FCLF’s contributions to furthering our mission." – Michael L. Bean, CEO

Housing Authority of Brevard County

"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

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

Dignity Health

“The collaboration with FCLF and using NMTC financing allows us to bring the most ambitious projects to life to benefit the communities we serve.” – Elodie Dorso, President & CEO

Community Health Centers of Pinellas

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

JPMorgan Chase Foundation

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

Neighborhood Renaissance

“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

“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 are proud to partner with FCLF on this project, which expands access to innovative, quality, comprehensive primary healthcare in our communities.” – Annie Neasman, President & CEO

Jessie Trice Community Health

"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

"Cade Museum is proud to be partners with FCLF and JPMorgan Chase. Thanks to the NMTC Program, we will provide a transformative asset to our community." – Jennifer Denault, COO

Cade Museum for Creativity & Inventi…

"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

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

Metropolitan Ministries

Our Partners

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