FCLF Supports $11 Million Boys & Girls Club Facility

25 June 2018

FCLF, NMTC, Boys & Girls Clubs of Manatee CountyNew Markets Tax Credit Program will finance replacement of existing clubhouse.

Orlando Florida (June 25, 2018) – Florida Community Loan Fund (FCLF), a statewide source of flexible financing for community and economic development, announced the closing of a transaction that will replace the Boys & Girls Clubs of Manatee County’s (BGCMC) worn out, obsolete 50 year-old building with a new 47,500 square-foot facility.

FCLF provided $10.5 million in New Markets Tax Credit (NMTC) allocation for the new facility, consistent with FCLF’s focus on NMTC projects that achieve high social impact, catalyze economic development, and create jobs in severely distressed census tracts. The new BGCMC clubhouse, expected to open in Summer 2019, will be a centerpiece in its West Bradenton community and provide programs for 2,400 members – 75% of whom are low income. In addition to creating 200 jobs, the project is designed to drive academic achievement, good character and citizenship, and healthy lifestyles for local children.

“Without NMTC, it could have taken years to pull together financing for this project,” said Nelson Black, FCLF Chief Lending Officer, “but the time to mentor children and youth is right now. The new Boys & Girls Club will reach thousands of children and teens every year, in their own back yard.”

Learn more about Florida Community Loan Fund and Boys & Girls Clubs of Manatee County in this video.

FCLF, NMTC, BGC Video

FCLF has participated in the NMTC Program since 2004 and been awarded a total of $316 million in NMTC allocation authority from the U.S. Department of Treasury Community Development Financial Institutions (CDFI) Fund. The NMTC Program is designed to attract capital investments into large scale, high priority, locally determined projects statewide. The investor on this project is PNC Bank and additional financing is provided by Synovus Bank.

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 $323 million through 300 loans in Florida, making possible over $940 million in new investments in low-income communities. For more information visit www.fclf.org or www.facebook.com/FCLFOrg

About Boys & Girls Clubs of Manatee County. Boys & Girls Clubs of Manatee County’s mission is “to enable all young people, especially those that need us most, to reach their full potential as productive, caring, responsible citizens.” In operation since 1946, Boys & Girls Clubs of Manatee County currently provides afterschool and summer programs for over 4,100 young people at six locations (2 traditional Clubs and 4 school-based Clubs). The Clubs offer a safe place to learn and grow, where young members experience both life-enhancing and character-building programs focused on academic success, healthy lifestyles, and good character and citizenship. For more information, call 761-2582 or visit www.bgcmanatee.org or www.facebook.com/BoysGirlsClubsManatee.

Read our press release here: Florida Community Loan Fund supports $11 million Boys & Girls Club Facility
Media Contacts: Janet de Guehery, This email address is being protected from spambots. You need JavaScript enabled to view it., or Lisa Junkerman, This email address is being protected from spambots. You need JavaScript enabled to view it..
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Our Partners

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Nutritious snacks are a part of the healthy focused curriculum at Emma Jewel Charter Academy.
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FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
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Greater Heights offers new, safe, affordable rental homes in what was formerly a high crime area.
Casa San Juan Bosco and FCLF
New rental homes are available for farmworker families at Casa San Juan Bosco.
FCLF and Florida Housing Coalition
FCLF representatives are ready to talk about your project success.
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FCLF projects create jobs and stimulate development in low-income communities.
ASPIRA of Florida Aspirantes
ASPIRA of Florida offers education & mentoring with a focus on low-income and Latino students.
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FCLF projects create jobs and stimulate development in low-income communities.
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DuPuis Pointe offers affordable, hurricane proof homes in Miami.
FLACDC Conference
FCLF Staff meet and greet friends at an FLACDC event.
Emma Jewel Academy and FCLF
Emma Jewel Charter Academy offers education for the whole child in Brevard County.
RCRI Conference 2012
The RCRI Conference allows FCLF staff to touch base with our religious supporters.
FCLF at Florida Housing Conference
FCLF staff are active at statewide conferences and events.
Casa San Juan Bosco and FCLF
Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.
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.
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.
ASPIRA of Florida and FCLF
FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
Million Meals 2012
FCLF staff and supporters volunteer at Million Meals event.
FCLF and Rep. Webster
Rep. Daniel Webster visited FCLF staff.
Neighbor Up, Affordable Housing
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
TD Charitable Foundation, TD Bank
TD Charitable Foundation and TD Bank have supported FCLF's mission since 2006.
FCLF Board and Staff
FCLF Board Members represent our investors, borrowers, and technical experts.
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